IMF to Visit Zambia in October 2016 for Aid Program Discussions

IMF Zambia

A team from the International Monetary Fund (IMF) will visit Zambia by the end of October 2016 to discuss the provision of an aid program.

This is indicated in a statement issued by the Zambian Ministry of Finance on October 5th 2016.

The IMF team will discuss the design of an economic stabilization program with various governmental, statutory, private sector and other stakeholders in Zambia.

“[…] the IMF will be provided with home-grown macro and fiscal aspirations for the next annual budget and the medium term in order to pave way for program discussions so that once in place, the Fund supported program will not be at variance with the budget and the medium term expenditure framework,” the statement indicates.

“The relationship between Zambia and the IMF is strong and we look forward to working with you to strengthen this partnership further,” IMF Director for the African Department, Abebe Aemro Selassie, recently said.

“I wish to assure you that we at the IMF are fully committed to assisting you in formulating and implementing policies to stabilize the macroeconomic situation and achieve sustained and inclusive growth for the benefit of all,” he added.

In March 2016, a team from the Fund visited Zambia to appreciate the country’s macroeconomic situation and commence engagement towards a formal program between Zambia and the IMF.

Furthermore, another round of engagement was initiated at the April 2016 Bretton Woods Institutions’ Spring Meetings in Washington DC whereby the Zambian Government and the IMF agreed on an engagement approach which would lead to the country getting on a program.