Zambia needs IMF programme – Zanaco

ZAMBIA needs the International Monetary Fund (IMF) programme to give an assurance to lenders that the country will ensure fiscal consolidation, Zanaco has observed.
Zanaco said with the country’s sovereign credit risk further weakening in the absence of successfully completing the ongoing debt restructuring efforts to put the country back on the debt sustainability path, there will be need for the endorsement of IMF.
“If the foregoing is to be averted, the country will need the support of the endorsement of the IMF with a programme to guarantee lenders that the fiscus will stay the talk on fiscal consolidation,” the Zanaco research unit said in the latest economic review and outlook.
In the report, dubbed ‘Restoring Zambia’s macroeconomic stability in 2021 crucially depends on IMF and the external debt restructure’, Zanaco said although there is a boom in copper prices on the international market as well as the projected marginal recovery in CLICK TO READ MORE

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