IMF plan needed to relieve pressure off market

ZAMBIA needs an International Monetary Fund (IMF) programme to relieve pressure off the domestic market and to attract external funding, Citibank Group chief economist for Africa David Cowan says.
Minister of Finance Margaret Mwanakatwe is this week expected at IMF/World Bank annual meetings where she will discuss the fiscal consolidation measures for the 2019 budget and debt position.
Next month, a team from IMF are expected in the country to seek a debt sustainability analysis which will ascertain whether Zambia has full control of its borrowing liabilities.
In an interview on the sidelines of the just-ended Citi Middle East and Africa Summit, Mr Cowan said the IMF programme is necessary as it will instil credibility, which will enable the country to attract external funding.

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