Zambia News

IMF’s bailout plan is based on a locally created economic recovery program, according to H.H.

The agreed US$1.3 billion International Monetary Fund (IMF) bailout package, according to President HAKAINDE HICHILEMA, is based on a locally created economic recovery program built on the Eighth National Development Plan (8NDP).

Zambia was the country that presented a proposal to the international organization, contrary to what others have claimed, according to President HICHILEMA.

He advises individuals to take the time to become familiar with the specifics of the agreement so they can avoid making unwarranted criticisms.

This was said by the Head of State in a keynote address today in Lusaka at the beginning of the eighth national development plan.

The 8NDP, according to President HICHILEMA, is intended to put the nation on a high growth trajectory and feed into the Vision 2030 initiative, which aims to make Zambia a prosperous middle-income nation.

The Economic Transformation and Job Creation, Human and Social Development, Environmental Sustainability, and Good Governance Environment are the four key development areas included in the Eighth National Development Plan.

The plan’s subject is “Socio-Economic Transformation for Improved Livelihoods” and it will run from 2022 to 2026.

Earlier, the Finance Minister, SITUMBEKO MUSOKOTWANE, reaffirmed that the plan had been written down and that it was now time for it to be implemented for the benefit of all Zambians.

Dr. MUSOKOTWANE indicated that his Ministry will make sure that funds are directed into the plan’s activities.

According to him, the 8 years before 2030, or the 8NDP, are crucial for making the Vision 2030 a reality.

However, according to Dr. MUSOKOTWANE, youth unemployment is the nation’s second major problem, and it needs to be quickly addressed.

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