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FORMER MINISTER of Works and Supply Felix Mutati

IMF awaits State’s plans

THE International Monetary Fund (IMF) is waiting to hear from Government on how it envisages undertaking its borrowing plans in line with public debt as it focuses on economic recovery.

The Zambian delegation led by Finance Minister Felix Mutati is attending the IMF-World Bank annual meeting that is running from October 9 to 15.
Zambia, which intends to borrow US$1.3 billion from the IMF, has a total public debt (external and domestic) standing at K114.9 billion as at end of August 2017. The debt is equivalent to US$12.45 billion, representing 47 percent of gross domestic product (GDP).