SITUMBEKO MUSOKOTWANE, Zambia’s finance minister, claims that the International Monetary Fund (IMF) has put off disbursing $188 million in assistance to Zambia because the nation’s creditors have been reluctant to sign a Memorandum of Understanding (MoU).
The MoU, according to Dr. MUSOKOTWANE, is intended for creditors to reassure the IMF of their support for Zambia.
Speaking to the media in Lusaka today on the 2023 spring meetings, Dr. MUSOKOTWANE said that despite Zambia having completed all necessary steps, the funds could not be secured since the creditors have not signed the MoU.
The majority of stakeholders indicated satisfaction with the government’s economic performance, which gives the minister reason for optimism that Zambia would be able to receive the second tranche of funding.
Furthermore, according to FELIX NKULUKUSA, secretary of the Treasury, the administration is planning ahead by making sure that any potential economic shocks or gains are taken into account in its recommendations.