Govt, IMF talks still active, says Minister

GOVERNMENT will engage the International Monetary Fund (IMF) to define a working relationship and determine the nature of its support to Zambia, Finance Bwalya Ng'andu has said.

Dr Ng’ndu said in November last year Government and IMF mission discussed recent economic developments and the economic outlook for 2020 and the medium term.

He said based on the outcome of the mission in November and the debt and fiscal measures, Government would continue to work with IMF.

Government has been pursuing a $1.3 billion bail-out package from the IMF.

The minister was speaking in Lusaka yesterday when he gave an update on the state of the economy.

Dr Ng'andu said Government recognised the support from cooperating partners in social and economic sectors such as education, health, energy and agriculture.

"We will therefore continue our engagement and interaction with cooperating partners as we value their support," he said.

He said Government would ensure that it implemented the debt management measures as directed by Cabinet.

"We will also enhance revenue collections whilst remaining mindful of the need to support private sector growth. We will continue to engage cooperating partners to support our growth and development agenda," he said.

Dr Ng'andu said through implementation of remedial measures, Government would

return the country to debt sustainability and get the economy on the path to recovery.

He said the measures and policies were sound and had the support of the Zambian people.

"What is required is effective and sustained implementation. We are therefore, all called to action," he said.