Africa-Press – Zambia. A Zambian delegation led by Finance and National Planning Minister Dr. SITUMBEKO MUSOKOTWANE has commenced engagements at the World Bank Group and the International Monetary Fund (IMF) Spring Meetings in Washington, DC, United States of America. The country’s delegation includes Secretary to the Treasury FELIX NKULUKUSA and Bank of Zambia Governor Dr. DENNY KALYALYA.
The delegation has since held high-level talks with the World Bank Group Managing Director for Operations, AXEL VAN TROTSENBURG. The meeting took place at the World Bank Headquarters in the United States Capital.
At the Monday talks, Dr. MUSOKOTWANE discussed Zambia’s economic reform agenda and the debt challenges. He called on the World Bank and other development partners to act swiftly in supporting the country’s reform agenda and proposed debt restructuring. The Minister noted with concern, the delays in the formation of the Official Creditor Committee under the G20 common framework for debt restructuring.
And speaking at the same meeting, Mr. TROTSENBURG said he was pleased with the Zambian delegation’s visit. The World Bank Managing Director for Operations announced that his organisation and its Bretton Woods Partner, the International Monetary Fund (IMF), had completed a joint debt sustainability analysis which indicated the need for Zambia to access debt relief and strengthen the country’s return to sustainable debt levels.
“As a long-term partner of Zambia, the World Bank is committed to providing substantial International Development Assistance (IDA) to Zambia,” Mr. TROTSENBURG said as he took the opportunity to also appeal for swift action and international solidarity for Zambia’s debt relief and economic reform agenda.
Dr. Musokotwane thanked the World Bank Managing Director for according the delegation the opportunity to discuss Zambia’s economic reform programme and debt matters, and for the expressed solidarity for Zambia’s debt relief and economic reform agenda.
The Minister and his delegation are in Washington DC, for the 2022 Spring Meetings of the IMF and the World Bank Group. The Spring Meetings bring together Ministers of Finance and Central Bank Governors of member countries, and other stakeholders, to discuss issues of global concern such as the world economic outlook, poverty reduction, and sustainable economic and social development. Supportive and side meetings and events, held on multilateral and bilateral platforms, are scheduled throughout the Spring Meetings. The 2022 meetings are from 18th to 24th April, 2022.
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