Zambia News

MUSOKOTWANE Leads Delegation To IMF/World Bank Spring Meetings

Zambia’s participation in the 2023 IMF/World Bank Group Spring Meetings, according to Finance and National Planning Minister SITUMBEKO MUSOKOTWANE, is crucial for the country’s debt restructuring process.

The meetings, according to Dr. MUSOKOTWANE, are beneficial for enhancing the country’s appeal as one of the top investment locations in Africa.

He said the special session on concessional finance for donors and recipients, which is aimed at promoting economic and financial stability in low-income countries, is something the delegation is looking forward to.

Dr. MUSOKOTANE also expects high-income nations to come to an agreement on a medium-term plan to stabilize the Poverty Reduction Growth Trust’s finances through proper funding and subsidies.

He claims that the country is certain that a successful outcome will enable countries like Zambia to strengthen their resilience and move toward middle-income status.

According to a statement the Ministry of Finance issued to ZNBC News this evening, this is the case.

The 2023 SPRING MEETINGS OF THE WORLD BANK GROUP AND THE INTERNATIONAL MONETARY FUND begin on Monday, April 10, and go through Sunday, April 16, 2023.

Dr. MUSOKOTWANE is accompanied by FELIX NKULUKUSA, the Secretary to the Treasury, DENNY KALYALYA, the Governor of the Bank of Zambia, MWAKA MUKUBESA, the Acting Permanent Secretary in charge of Budget and Economic Affairs, and FRANCIS CHIPIMO, the Deputy Governor of the Bank of Zambia.

Several significant bilateral gatherings and engagements will also be held by the team.

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