Zambia News

Zambia Impressed The IMF Chief

The way Zambia is handling its public resources has impressed the International Monetary Fund (IMF).

Zambia is investing in sectors like education and social protection, according to IMF Managing Director KRISTALINA GEORGIEVA.

The Fund, according to Ms. GEORGIEVA, is pleased with the economic reforms Zambia has started.

The IMF Chief adds that she is aware that while changes may hurt, they eventually result in stronger and more dynamic economies.

When Ms. GEORGIEVA met President HAKAINDE HICHILEMA at the State House, she said this.

Speaking at the same gathering, President HICHILEMA urged for the quick conclusion of Zambia’s debt restructuring negotiations since the nation runs the risk of undoing the gains it has made in reestablishing the foundations of its economy.

If the talks are not finished by the end of the first quarter of this year, according to President HICHILEMA, the nation will struggle to adequately handle its economic issues.

The Head of State continued, noting that the delay is also harming investor confidence.

In addition, President HICHILEMA asked Zambians not to spread the idea that the IMF is a foreign organization bent on ruining the economies of developing nations.

In contrast, he claimed, the IMF is a worldwide organization whose members include Zambia.


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