IMF wants relaxed conditions for Africa Get cheaper funding from capital market, Zambians urged

International Mone- tary Fund (IMF) has called for the relaxation of exter- nal financial conditions for Sub-Saharan Africa to access hard currency bond markets.

ready for ops at new

Hard currency is money

Kazungula that comes GOVERNMENT from a has country prodded with a citizens strong to utilise government the stock and economy markets for and cheaper that is capital not

border likely to funding, lose its as it value. develops a bill

IMF which Division will allow Chief the use Re- of search electronic Department, signature Malhar during Shyam By online BUUMBA Nabar, transactions. CHIMBULU expressed concern The that Ministry the conditions of Finance had been ALL is therefore tax extremely collecting working systems tight with for the

Sub-Saharan Africa over the

at Lusaka the new Securities Kazungula Exchange One past several Stop to introduce Border months. Post Retail (OSBP) Bonds on

Mr are the Nabar ready capital to markets. said start operations a turn- around immediately This in will conditions enable after the citizens official and to better opening buy a retail of the bond project with as low

access for Sub-Saha- ran African scheduled issuers to take place to access this

as K500 once an initiative external month. hard currency bond

called markets According would Retail to Bond the certainly Zambia which is help Revenue with currently improving Authority being developed (ZRA), the is outlook. all introduced. systems, processes,

“In procedures, terms Retail Bonds of and people what are bonds the

are specifically all ready to issued take up for the retail

global outlook means for

challenge investors. at the new border

Sub-Saharan Africa, of

post. Stock course, the partial markets recovery are a

ZRA is the way lead to raise border capital that we cheaper are projecting next

agency as they at do Kazungula not attract assisted any

year clearly has a beneficial

by interest, other border says agencies Ministry

impact for the outlook in of

such as Immigration, terms Finance of stronger Permanent external Secretary

Ministry of Health, Ministry

demand. for Economic Management

of Agriculture, Ministry of

“But Mines, and one Finance, Zambia key Mukuli element Compulsory Chikuba. re- ally is Standards that Mr Chikuba the Agency, external. explained Zambia that fi- nancial Police capital conditions, and markets Road Transport offered which a have been and number Safety extremely of Agency. benefits such tight as for Sub-Saharan raising The ZRA cheaper has Africa therefore funds over and the past indicated encouraged several that savings. months,” it will move its he said during regional The Permanent customs a recent command Secretary press briefing. centre however from expressed Livingstone concern to

The Kazungula. that IMF, the he capital said, markets had stepped had The in been new with facilities underutilised very are wide- and

expected to improve trade spread therefore support called on conces- for more

facilitation procedures sional sensitisation. financing and debt

and reduce transit time of

service relief to try and

about He two said to this seven when days making to conserve about a presentation liquidity two hours, at says for the ZRA ongoing these economies. Corporate media training Communications organised Manager, by the Topsy Financial Sikalinda. Sector Deepening Mr Sikalinda Zambia explained (FSD in

Mr Nabar explained this was meant to countries redirect resources to combatting the health sis and the economic crisis an they interview are that facing. the current system IMF used Chief pontoons Economist which Director were slow of hence the Research the increased Zambia). partment, dwell times Gita at the Gopinath, border. said: "The “overall treasury bills, for the region bonds as “As a the have whole, ZRA quite continues good our returns numbers on its and close modernisation you to do what not agenda need we a had lot of in June, that money so began it for is in you 2016, -3 percent to it that invest in for innovation bonds and or then is treasury holistic, [-]3.1 product bills percent but and 2021, process but should there both is be significant

we need to do a lot of work

included. A balance should

heterogeneity that citizens can know within that the also so be done on both systems

gion.” with little money, you can and even physical infrastructure. invest Ms in. Gopinath observed

“Recently, the ZRA launched that "But also its there new the buildings use were of stock countries in markets, that Mongu we and were have another not commodity seen new a lot building of porters use of in the Chinsali stock that exchange has had been been in completed that negatively regards and for yet raising impacted to be capital not launched. which by the for me Covid-19 is the cheapest pandemic because but The Kazungula by what the you drop project do in is you oil prices. is don’t another have huge to pay milestone interest you

“There is always a differ- with ence support between from the countries

just offer shareholding and Government,” are more he said. diversified, Mr

you can still maintain majority

Sikalinda seem also to said have in the better growth Eastern shareholding," part of the Mr country, Chkuba

prospects than others, the said. new Mwami border post

it is also important to was in Meanwhile, almost mind complete that, and for Mr instance, would Chikuba soon said be commissioned. there was

in Sub-Saharan Africa, currently He explained in Parliament that the the

World Bank projected

OSBP Electronic concept transaction ensured that and

over 20 million people facilities, communications and associated bill which will

enter extreme poverty processes enable citizens and procedures to transaction

year,” she said. that using permit an electronic goods, humans, signature. cargo, Mr and Chikuba vessels There or explained is always

vehicles stop at one single that the bill was a difference currently at be-

point or facility and do all the committee stage tween in Parliament countries

clearance procedures to exit one where country submissions and that enter were the are being more other received country from or diversified, state. stakeholders that (witnesses). Mr Sikalinda seem said the to have Chirundu "You can OSBP now better between transact using growth Zambia the prospects electronic and Zimbabwe signature than was but others, recognised most but importantly it to is be the also Government first important fully is to also functional keep setting OSBP in up on a mind the fully- that, African fledged for continent. department instance, that in will Sub-Sa- be looking “It haran is gratifying at the Africa, issue to state of that the rolling World the lead Bank consultant projected for this

out the electronic transaction that

role model was Zambian and in the over country. 20 million people

the current Commissioner

"It will is expected enter extreme that before pov-

General of the Zambia

erty this year,”

Revenue Parliament Authority rises, at it the will time be he passed was in ready the private for ascending," sector.

Mr Chkuba said.