Zambia has finally received approval of a long-awaited IMF-supported program, what next?
Now that Zambia has finally received approval of a long-awaited IMF-supported program, what will it do for the country? Renowned economist Prof. Oliver Saasa gave Mining For Zambia this exclusive comment:
“At the end of the day, in Zambia, the entry of the IMF spells good tidings. It allows us to go back to being a member of the global village where there is fiscal prudence and management of our economy, alongside other like-minded countries. It allows us to receive advice from multilateral institutions on the number of challenges that the country is facing – in particular, how to manage the debt situation that we are in. It opens up opportunities to begin discussions with those to whom we owe money, Zambia’s creditors – official creditors, but also private creditors, in the case of the Eurobonds. These are the opportunities that everybody has been waiting to see and, once this is approved, we’ll see a lot of action. And that’s why we are very excited for this package to be realised.”
