His Excellency Mr. Edgar Chagwa Lungu, President of the Republic of Zambia has met the International Monetary Fund (IMF)assuring that the Zambian Government remains committed to spearheading the nation’s development based on an economic stabilisation and growth programme.
“Although we remain committed to continue on the path of economic reform and stabilisation, there is need to bring the programme negotiations to a conclusion. We are committed to move forward with the programme. We are taking painful decisions now, to ensure we make progress in the economy and secure the livelihoods of our people,” the President said.
The President said this when IMF Director for the Africa Region, Dr. Abebe Selassie paid a courtesy call on him at State House today.
“Government is unanimous on the need to ensure debt sustainability and fiscal discipline while maintaining a healthy balance between social spending and growth programmes.”
The President said Government has taken unprecedented measures such as removal of consumption subsidies and the progression of electricity tariffs to cost reflective levels.
The President was accompanied to the meeting by Minister of Finance Felix Mutati, Secretary to the Treasury Fredson Yamba, Special Assistant to the President for Economic and Development Affairs Hibeene Mwiinga, Bank of Zambia Governor Dr. Denny Kalyalya and Bank of Zambia Deputy Governor Dr. Bwalya Ngandu.
And the IMF Director Mr. Selassie was accompanied to State House by newly appointed IMF Mission Chief for Zambia Dr. Boileau Loko, IMF Executive Director for Zambia Dr. Maxwell Mukwezalamba, and IMF Resident Representative Dr. Alfredo Baldini.
PRESS AND PUBLIC RELATIONS UNIT STATE HOUSE