Collective hard work way to go for IMF programme success


ZAMBIANS will have to collectively work hard for the successful implementation of the International Monetary Fund (IMF) programme aimed at restoring the country’s economy. In December last year, the IMF reached an agreement with Zambian authorities on a crucial three-year lending programme worth around US$1.4 billion that will help the country to restructure its extensive debt. The Ministry of Finance and National Planning also says that undertaking the IMF programme hinges on the fundamental shift in mindset and teamwork from everyone. “Zambians will have to work hard at individual levels as well as collectively for successful implementation of the programme. “Of equal importance is the need for Government to maintain steadfast commitment to agreed policies and structural measures that will be undertaken before and during implementation,” the ministry states. This is according to a statement issued by the Ministry of Finance and National Planning containing responses to online questions from stakeholders who queried it on various economic issues. One of the queries was on what the ministry has learnt from the past challenges to ensure successful implementation of the IMF programme over the next three years. The ministry was also asked to give examples of where the IMF programme yielded success and how the bailout package improved the lives of the poor. “A more recent successful story of an IMF-supported programme under the Extended Credit Facility is the case of Ghana from 2015-2019. “The programme paved way for a significant improvement of Ghana’s macro-economic performance, with higher growth from 2.1 percent in 2015 to 6.5 percent in 2019,” the ministry says.
It also states that for Ghana’s 31 million people, the IMF programme culminated into CLICK TO READ MORE

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