The next visit by IMF Managing Director KRISTALINA GEORGIEVA, according to Zambia’s Finance Minister SITUMBEKO MUSOKOTWANE, is proof that Zambia is doing responsibly.
According to Dr. MUSOKOTWANE, Ms. GEORGIEVA’s visit takes place at a time when Zambia’s international profile is expanding due to the successful economic reforms the nation has implemented.
He has mentioned a rise in CDF funding to support more grassroots development, the hiring of many teachers and healthcare professionals to enhance service delivery, and the clearing of old pensions, among other things.
High profile individuals will continue to visit Zambia, says Dr. MUSOKOTWANE, because the nation’s chances for collaboration and economic change are once more looking promising and forward-thinking.
The Minister has also welcomed Ms. Georgieva’s statement that a new roundtable on global sovereign debt will convene for the first time on the sidelines of the G-20 Finance Ministers Meeting in India. This roundtable will include creditors and certain borrower countries.
He has stated that Zambia appreciates the clarity that the new roundtable won’t replace the Common Framework for debt treatment, but will instead supplement it.
Additionally, Dr. MUSOKOTWANE is representing President HAKAINDE HICHILEMA at the WEF in Davos, Switzerland in 2023.
Dr. MUSOKOTWANE will attend and participate in both scheduled WEF events and bilateral engagements with a number of development and cooperating partners. He will be joined by the Minister of Commerce, Trade, and Industry, CHIPOKA MULENGA, and the Governor of the Bank of Zambia, Dr. DENNY KALYALYA, among others.
One of the bilateral meetings was with the Minister of Planning and Economic Development of Egypt to discuss Zambia’s exports to Egypt, look into potential areas of future collaboration, and share knowledge on debt management and Zambia’s IMF-supported program.
The group from Zambia will also meet with MOHAMMED AL-JADAAN, the Saudi Arabian Minister of Finance, and ALVARO LARIO, the President of the International Fund for Agricultural Development (IFAD).