IMF chief jets in, hails Zambia
By KASUBA MULENGAINTERNATIONAL Monetary Fund (IMF) managing director Dominque Strauss-Khan arrived in Zambia last night and commended the government for having effectively managed the negative impact of the global economic crisis.
Mr Strauss-Khan, whose plane touched down at the Lusaka International Airport at about 18:35 hours, said he chose Zambia, Kenya and South Africa as the African countries to visit because of the good mitigatory measures they put in place to ensure that their economies remained resilient in the wake of the global economic crisis.
“The IMF is your institution, which helps with technical advice on economic policy and lends funds to countries in crises,” he said.
Mr Strauss-Khan said the economic policies some African countries put in place during the economic crisis should be commended.
He said he chose to visit Kenya, South Africa and Zambia because they are some of the countries that give a positive picture of how Africa is fairing economically.
“Zambia, Kenya and South Africa give a good picture of how Africa really is today, and it was my idea to come and visit this country. We are on a business trip,” he said.
Mr Strauss-Khan said the IMF has been helping various countries in need of financial aid, and when they require some technical assistance on any part of economic policy.
He said he is in Zambia to visit various stakeholders and IMF clients.
Mr Strauss-Khan said Africa is an important part of IMF, and that it is the reason he felt that it was important to visit some countries to see how they coped with the global economic crisis.
And Mr Strauss-Khan said good governance is a key factor for any country’s economic development.
He said economic development does not flourish in a country with a volatile political environment, especially if there is conflict.
Mr Strauss-Khan said the IMF works in close collaboration with the United Nations, which recommends which countries should be members of the international financial lending institution.
He said Zimbabwe was suspended from the IMF membership because of the political conflicts that characterised the southern African country, although everything possible is being done to bring it on board.
The IMF chief said the fight against poverty and corruption is also one of the main factors that enhance the economic development of any country.
And earlier, Minister of Finance and National Planning Situmbeko Musokotwane said the IMF is a credit union to which member countries contribute funds, which they later go to borrow in case of a crisis.
Dr Musokotwane said the IMF contributed greatly to the Zambian government’s efforts in mitigating the negative effects of the global economic crisis.
Mr Strauss-Khan was received at the airport by Dr Musokotwane, Bank of Zambia Governor Caleb Fundanga, Secretary to the Treasury Likolo Ndalamei and other senior Government officials.
He is today expected to meet President Banda and Dr Musokotwane, after which he will hold a public discussion forum with the business community, civil society organisations and students from higher institutions of learning.
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