Zambia and IMF talks on financial support to respond to COVID-19 economic fallout continue

The International Monetary Fund (IMF) said on Thursday it is still in talks with authorities in Zambia over their request for financial support to respond to COVID-19 economic fallout.

Speaking at a press briefing from Washington DC, Gerry Rice, Director of Communications at the IMF, said the discussions continue.

“The Zambian authorities have requested IMF support for their economic program to restore macroeconomic stability, as well has assistance under our emergency financing to help address the human and the economic impact of the pandemic.

“I can tell you, that a virtual IMF staff mission took place June 22 to July 10 to discuss the emergency financing request.

Dr. Bwalya Ng'andu is current Zambian Minister of Finance 
Dr. Bwalya Ng’andu, Zambian Minister of Finance

“Progress was made, but discussions continue as the authorities determine their policies and priorities in the context of their revised 2020 budget, as well as the medium-term fiscal stance needed to restore debt sustainability, revive growth and reduce poverty. That’s where we are on Zambia,” Mr. Rice said.

Chief White House Correspondent for

Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.

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