Government will continue putting in place measures that will form the basis for facilitating discussions with the International Monetary Fund (IMF) on the possibility of securing more financial support. And Cabinet has approved Zambia’s hosting of the International Development Association (IDA) 18 high-level mid-term review meeting in Livingstone next month.

Minister of Finance Margaret Mwanakatwe said in a statement yesterday that Government’s engagement with the IMF has continued through staff visits. “President Edgar Lungu assured the World Bank and other development partners, through its vice-president Hafez Ghanem, who recently visited the country, of Zambia’s commitment to transparent cooperation with all development partners,” she said.

Mrs Mwanakatwe said President Lungu also assured the World Bank of Zambia’s commitment to strengthening public finance management across the public service and increasing oversight over the country’s debt.
She said Government will continue engaging other multilateral organisations such as the African Development Bank and World Bank because their support in private sector development and other sectors is yielding results.

She said Zambia’s cooperation with donors will always be based on principles of transparency, accountability, prudence and cost-effectiveness in the use of their resources. Mrs Mwanakatwe said Government will also continue to strengthen its financial governance systems and detecting raud-related activities before they happen.

She said Government will be meeting cooperating partners and other stakeholders on a quarterly basis to brief them on the country’s economy, public finance management measures and other areas of concern. And Mrs Mwanakatwe said with the strengthened Public Finance Management Act, civil servants found guilty of financial misconduct will be suspended, dismissed and prosecuted. She said Government has already started taking appropriate action against officers involved in the social cash transfer financial irregularities and the mismanagement of funds in the education sector.

Mrs Mwanakatwe said similar action is being taken in various ministries, where mismanagement has been unearthed by auditors.
She said no public funds, whether donor or government, will be allowed to be misused in the wake of scarce resources for implementation of development programmes.

And Mrs Mwanakatwe said Cabinet’s approval of Zambia to host the IDA 18 high-level mid-term review meeting shows Government’s continued efforts to maintain cordial bilateral and multilateral relations with cooperating partners.