‘ZAMBIA CAN STILL ACCESS IMF PACKAGE’

By BUUMBA CHIMBULU ZAMBIA still has a chance to acquire a package from the International Monetary Fund (IMF) because the institution has not closed off the discussions, Centre for Trade Policy and Development (CTPD) has said.

Government is negotiating for a US$1.3 million IMF economic package.

CTPD executive director, Isaac Mwaipopo, said there was still room for Zambia to access the programme provided it followed strict reforms which the IMF was suggesting.

Mr. Mwaipopo explained that among the reforms to be followed through included venturing into projects which would bring in investment while scaling down on expenditure.

“There is still room for us to get back to the discussion table with IMF and discuss the way forward. We do not think the IMF has closed off the negotiations with Zambia completely,

“But we think that what the IMF wants us to put on the table is to request Government to follow through some of the reforms they have put in place and demonstrate that they will abide by the proposed reforms,” he said.

He said in an interview that Government needed to demonstrate to the fund its commitment of follow through with the required reforms.

“There is still room for Zambia to get the bailout package if we demonstrate that the proposed measures that we have put in place, we are following them through and we are venturing into projects that we are scaling down in terms of expenditure,” Mr. Mwaipopo said.

Mr. Mwaipopo also said the current prevailing copper prices was expected to improve economic prospects for the country if they were sustained.

A tonne of copper on the international market is trading at over US$7, 000.

“If you look at the performance of copper prices, there is a good improvement and if there is a sustained performance of the commodity, it is likely to have a positive bearing in terms of our prospective growth for 2018,” Mr. Mwaipopo said.

Mr. Mwaipopo