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Saturday, October 16, 2021

Govt finally bows to IMF, requests for financial assistance

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The Zambian government has finally formally requested a financing arrangement with the International Monetary Fund (IMF) to support their reform efforts.

In a statement from Washington, the IMF says it is currently assessing this request.

As part of this assessment, and following an invitation from the Zambian authorities, IMF’s Africa Director Mr. Abebe Aemro Selassie and Mr. Alex Segura-Ubiergo, mission chief for Zambia are visiting Lusaka during December 7-9 for high-level discussions.

This is the first time under President Edgar Lungu that Zambia has formally engaged the IMF for a bailout package after many years of procrastination.

Yesterday, President Edgar Lungu met the Director of the International Monetary Fund’s (IMF) Africa Department, Abebe Aemro Selassie, at State House.

In a statement issued to the media in Lusaka yesterday evening, Special Assistant to the President for Press and Public Relations, Isaack Chipampe, said the Head of State discussed wide-ranging issues regarding Zambia’s relations with the IMF going forward.

Mr. Chipampe disclosed that in the meeting, was Secretary to the Cabinet Simon Miti, Secretary to the Treasury, Fredson Yamba, Bank of Zambia Governor, Christopher Mvunga and Permanent Secretary in the Ministry of Finance, Mukuli Chikuba.

“Dr. Selassie was accompanied by IMF Mission Chief, Alex Segura,” Mr. Chipambe stated in the statement.

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