The Zambian government said on Monday that it will commence discussions with the International Monetary Fund (IMF) on a possible financing program.
Minister of Finance Bwalya Ng’andu said the government has just completed a two-week virtual mission with the IMF at which an assessment of the macroeconomic and fiscal situation was undertaken.
In his statement on the state of the economy, the Zambian minister said the talks with IMF follows the country’s request for an economic program which was made at the end of 2019.
According to him, Zambia will now discuss with the international lender on an appropriate macroeconomic framework that may lead to a program.
Meanwhile, the government says it was engaging with the IMF with a view to benefiting from other financing programs the IMF has.
Zambia was not among 25 countries that benefited from the IMF Catastrophic Containment and Relief Facility recently. Enditem