‘IMF relevant to Zambia`s growth’
By BUSINESS REPORTER
WE still need the International Monetary Fund (IMF) for economic growth, says Economic Association of Zambia (EAZ) committee member, Phillipe Masengo.
Mr Masengo said in an interview that assertions that Zambia did not need IMF for economic growth were misplaced as there was more to benefit from the organization than just money.
Recently, University of Zambia economics lecturer Dr Lubinda Habazookas indicated that Zambia did not need to be a member of the IMF to grow the economy.
But Mr Masengo said the country also benefitted through technical assistance and collaborations with other countries through the IMF.
“There is a lot that countries benefit from being with the IMF, countries receive delegates that advise on what economic measures should be introduced for the economy to flourish,”he said
Mr Masengo said members of the IMF pledge to cooperate with countries in resolving international monetary problems while members do share information on financial, fiscal and other economic policies that would benefit the country.
He said being a member of the IMF was beneficial as there was increased opportunity for trade and investment through partnerships.
“Of course we may need the $1.4 billion but that is not the only benefit of being part of the IMF,” Mr Masengo noted.