SECRETARY to the Treasury Felix Nkulukusa has announced that the Ministry of Finance and National Planning and an IMF staff delegation will today commence virtual discussions on a programme under the Extended Credit Facility (ECF).

In a statement, Wednesday, Nkulukusa stated that the aim of the discussions with the IMF was to achieve a staff level agreement that outlines an agreed policy reform package and a related medium-term macro-fiscal framework.

He stated that government was committed to fostering economic recovery and restoring debt sustainability as part of its plan to build a more resilient and productive economy.

“The Ministry of Finance and National Planning, led by Honourable Dr Situmbeko Musokotwane, MP, and an IMF staff delegation, led by Ms Allison Holland, will commence virtual discussions on a programme under the Extended Credit Facility (ECF) on Thursday, 4 th November 2021. The new Zambian administration – inaugurated in August 2021, is committed to foster economic recovery and restore debt sustainability as part of its plan to build a more resilient and productive economy in order to create jobs, drive innovation, and protect livelihoods. On 29th October 2021, the Finance and National Planning Minister presented the 2022 National Budget. At that event, he took the opportunity to lay out broad measures which the Government will be taking to restore economic growth and fiscal sustainability,” stated Nkulukusa.

“The aim of the discussions with the IMF is to achieve a staff level agreement that outlines an agreed policy reform package and a related medium-term macro-fiscal framework that, together with a debt restructuring package, would restore fiscal and debt sustainability, boost inclusive growth, and strengthen economic governance. WE take this opportunity to notify stakeholders that Zambia’s latest debt figures, including a detailed creditor-by-creditor breakdown, can be accessed on the Ministry’s website -www.mof.gov.zm.”