THE Zambian government has accepted an International Monetary Fund aid package to help restore the battered economy to be implemented after the August 11 elections 2016, says Secretary to the Treasury Fredson Yamba.
Yamba stated that both the IMF and the government agreed to commence the programme starting with the implementation of the 2017 national budget.
“Further discussions were held at the just-ended 2016 spring meetings in Washington D.C whereby the Zambian government and the IMF agreed to have some milestones that will eventually lead to the country getting on a programme by the fourth quarter of 2016,” Yamba explained in a press statement issued in Lusaka on Friday.
“In line with the roadmap, the IMF will be provided with Zambia’s macro and fiscal plans for the 2017 budget and the medium term, in June 2016, in line with the national budget calendar. This is meant to pave way for their input so that once in place, the programme will not be at variance with the budget because a large portion of the programme is executed through budget implementation.”
He stated that prior to the 2017 national budget, an IMF team is set to visit the country to finalise budget numbers.
“Further, the Fund will field a mission in September 2016 to finalise budget numbers with Zambia, taking into full account the adjustments that will be required for a programme. This will be followed by programme discussions in October/November 2016 with a view to have board discussions around mid-December 2016,” Yamba added.
“With respect to Zambia going on an IMF programme, the government is fully resolved, and as directed by Cabinet, this is inevitable.”
And Yamba added that one important issue to be tabled in Parliament in the coming weeks, among other policy issues, will be the mineral royalty tax.
I hope the conditions won’t hurt zambians
So now it is all in black and white that the economy had been battered by these thugs who have no vision and only achievement they get are honorary degrees like kambwili kikikikiki ?. Bane vote upnd if you want to see positive economic growth
But nez ndiwe chipuba , how can celebrate such nonsense?
Kambwili himself is celebrating his honorary degree for apparently his contribution to governance and yet zambia economy is almost collapsing. Do you see the absurdity of it all kikikikiki ?
IMF conditions are very simple; Expect the following:
1. Increase in the retirement age,
2. Increase in taxes for the middle class,
3. Reduction in the public service size and expenditure,
4. Increase in the price of fuels.
Others include;
5. Wage freeze
6. Increase in the cost of living worse than we are now.
7.increase in poverty levels.
The question is how have we found ourselves here? Illiterate PF carders like KAmbwili were lecturing to Educated economists on unfounded global reasons. Tell me has IMF gone to Malawi, has IMF gone to Zimababwe, has IMf gone to Botswana, Namibia, DRC, Angola, SA, Mozamboque all in the global SADC. Truth is people who took over power in 2011 were id.iots and visionless who should flushed out like toilet rubbish in August 2016
Add: 8. Devalue currency
Mj Banda-nez is not celebrating-the ones who are bipuba are our so called leaders who have created the mess we are in