Africa-Press – Zambia. President Hakainde Hichilema has said that greatness for Zambia lies ahead after the International Monetary Fund approved the 1.3 billion dollars loan for the country.
The Head of State said when he launched the 8th National Development Plan 2022-2026 under the theme “Social Economic Transformation for improved livelihood” that citizens should familiarize themselves with the details of the deal which have been made public.
The President said the IMF loan contains social economic policies anchored on development outcomes of the 8th National Development Plan adding that underlying policies of these outcomes are homegrown contrary to assertions by some quarters of society that this is a foreign programme.
He explained that the micro-economic objectives set out in the 8th NDP include; placing the country’s economy on a higher growth trajectory, restrain fiscal deficit, enhance domestic revenue mobilization, curtail accumulation of domestic arrears, contain inflation, maintain adequate international reserves and reduce debt to sustainable levels.
President Hichilema said with the attainment of the objectives set out in the ambitious but realistic plan, government expects to address the challenge of poverty, enhance economic diversification and reduce high inequality levels among Zambians.
And the Zambia-China Friendship Association has paid tribute to President Hakainde Hichilema and his economic management team for successfully negotiating the 1.3 billion dollars extended credit facility with the International Monetary Fund.
Association Secretary General Dr. Fredrick Mutesa says the Association also takes note of the role China played in the credit restructuring talks with the bilateral partners that paved the way for the IMF milestone that the country is celebrating yesterday.
Dr. Mutesa said that working together with China and other members of the international community, the Association is confident that Zambia is poised for rapid economic recovery, growth and development.
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