Africa-Press – Zambia. Stakeholders have received with mixed feelings the approval of the US$1.3 billion international monetary fund-IMF bailout package, with a call for government to reveal the conditions attached to the bailout.
The International Monetary Fund-IMF approved a 3 years US$1.3 billion support package for Zambia based on home-grown economic reform plan that aims to restore macroeconomic stability and foster higher, more resilient, and more inclusive growth
Economist Lubinda Habazoka says there is need for the government to communicate the conditions attached to the program and its impact on the Zambian people. Dr Habazoka says it is the conditions attached to the program that will determine if the country’s economy will be able to recover going forward.
Meanwhile opposition New Heritage Party president Chishala Kateka has charged that despite the bailout package being positive, the country does not need an IMF program as it has a capacity to raise its own money. Ms. Kateka says government does not need to be taught how to be fiscal disciplined as it can do that on its own.
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