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IMF, Govt engagement yields results

KELVIN CHONGO, Lusaka
MINISTER of Finance Felix Mutati says Zambia’s engagement with the International Monetary Fund (IMF) and the World Bank during the just-ended spring meetings in the United States (US) has produced positive results beyond Government’s expectations.

Mr Mutati said in a statement released by Ministry of Finance public relations officer Chileshe Kandeta that a high-powered delegation from the World Bank will visit Zambia in June to explore means on how Zambia can accelerate the absorption rate for close to US$1billion of the bhank’s portfolio covering poverty reduction, agriculture, irrigation, water and sanitation.
Mr Mutati led the Zambian delegation at the 2017 spring meetings of the IMF/World Bank in Washington DC.
“Zambia is on a constructive path in her quest to achieve full economic recovery, socio-economic stability, and reach greater heights of job-creation, prosperity, and country-wide poverty reduction.” he said.
Mr Mutati said the World Bank delegation will also engage Government on a special programme which will see the country secure additional resources to help stabilise and grow the local economy.
“The two high profile visits by the IMF and World Bank will put Zambia on the global sport light as a key destination for increased investments,” Mr Mutati said.
Mr Mutati said the financing opportunities may be provided through the Development Bank of Zambia and other banks.
The Zambian delegation to the spring meetings was negotiating for an IMF financial package for a home grown stabilisation and growth programme pending the board’s approval.

 

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