Washington, DC: Following the August election, the new government of Zambia invited the International Monetary Fund (IMF) for a virtual staff visit to share their key policies and reform measures. The IMF team, led by Ms. Allison Holland, Mission Chief for Zambia, held virtual meetings from September 27 to October 1, 2021. [1]
At the conclusion of the visit, Ms. Holland issued the following statement:
“We welcomed the opportunity to hear an update on recent fiscal and macroeconomic developments and learn about the new authorities’ reform priorities that focus on restoring macroeconomic stability, re-establishing fiscal and debt sustainability, generating growth, and improving human development.
“In light of the deeply challenging macro-economic environment that prevails, the new administration faces an urgent need to take steps to restore sustainability while protecting the vulnerable and creating more inclusive growth. The discussions last week provided us with a better understanding of how the authorities’ reform priorities are informing their 2022 Budget preparations.
“We look forward to discussions on a Fund-supported program in the near future.”
[1] The team met with Finance Minister Situmbeko Musokotwane, Acting Governor of the Central Bank Francis Chipimo as well as other senior government officials.