Africa-Press – Zambia. President Hakainde Hichilema has said that the approval of the International Monetary Fund (IMF) finance program for Zambia is an endorsement of the UPND administration’s credibility to restore the economy.
President Hichilema says his administration has managed to secure a deal within two months yet the PF administration failed to do so in seven years because of a lack of credibility. He says the UPND was elected on the assurance to restore the economy by dismantling the country’s debt.
Speaking on Arrival from Malawi where he had gone for bilateral engagements in the morning, President Hichilema said the IMF program is necessary for Zambia’s quest to restore the economy.
And President Hichilema said he has agreed with his Malawian counterpart Lazarous Chakwela to keep borders open for trade. He said the two Presidents also talked about the works at the Mwami and Muchinji border to establish a one-stop border post aimed at enhancing trade.
President Hichilema said he also discussed issues of insecurity in some parts of neighboring Mozambique and DRC with Dr. Chakwela in his capacity as SADC Chairperson. He expressed concern that failure to address the insecurities in the said countries will affect peace and trade in Zambia and Malawi.
Meanwhile, Finance and National Planning Minister Situmbeko Musokotwane has encouraged Zambians not to be fearful of the economic programme that has been reached between the government and the International Monetary Fund -IMF. Dr. Musokotwane says that the staff agreement reached with the IMF intends to deliver a better living condition for the average citizen.
Speaking when he delivered a ministerial statement in parliament today, Dr. Musokotwane said the UPND Administration is of the firm conviction that spending government money on the youth and education is a worthier and a more beneficial measure than pending
on fuel subsidies. He added that this measure is beneficial in the medium-long term as it will allow government to enhance allocation of funds to the Constituency Development Fund, and pay off outstanding pension arrears.
Dr. Musokotwane further said the measure will enable government hire 30 thousand teachers, eliminate tuition fees for secondary schools and bring back the meal allowances that were abolished by the previous PF government, to college and University students.
The Minister of finance and National Planning has also disclosed that with support by the IMF, government will administer reforms aimed at increasing checks and balances required for government to borrow money and increase revenue mobilization.
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