FINANCE Minister Dr Bwalya Ng’andu has directed ministry officials to prepare a well-structured engagement strategy in preparation for the forthcoming virtual consultative and information exchange mission of the International Monetary Fund from June 22 to July 1, 2020.
And the minister has advised ministry officials and public sector agencies to adopt a positive, symbiotic and systemic mindset towards the IMF talks.
According to a statement, Dr Ng’andu was speaking during a weekly top-management visioning and milestone setting meeting on economic policy, fiscal affairs, tax policy financial management, and internal controls.
“Finance Minister Dr Bwalya Ng’andu has announced that the International Monetary Fund will conduct a virtual consultative and information exchange mission for Zambia from 22nd June 2020 to 1st July, 2020. Dr Ng’andu has since directed officials in the Ministry of Finance to deeply reflect on the forthcoming assignment and prepare a well-structured engagement strategy. He has asked his management team to closely monitor the cleaning-up of all the required data requirements and ICT facilities in preparation for seamless engagement with the International Monetary Fund. Dr Ng’andu seized the opportunity to encourage his management team to ensure that innovation, professionalism, integrity, and diligence take root in the work culture of the Ministry ‘especially during this difficult period’. To emphasize his expectation for improved service delivery, Dr. NG’ANDU asked for expeditious implementation of the government policy on performance management for all divisions, directorates, and agencies under the Ministry of Finance,” Ministry of Finance public relations officer Chileshe Kandeta stated, Thursday.
During the meeting, Dr Ng’andu reiterated his pledge to sustain commitment to the deceleration of public debt accumulation.
“Among the Minister’s other points of emphasis was the need for accuracy in the production of debt related data, firmness in the implementation of liability management measures, and a sound domestic arrears dismantling programme. Dr Ng’andu took the opportunity to pledge sustained commitment to the deceleration of public debt accumulation. He appealed, strongly, that a close watch on external debt metrics ‘must be maintained so that obligations that fall due are serviced in a timely manner’. Dr Ng’andu concluded the meeting by reiterating the need for the Ministry of Finance to frequently engage both local and foreign development partners in order to improve information exchange on matters of mutual developmental and multi-sectoral investment interest,” Kandeta stated.
According to the statement, the minister further called for the development of an effective domestic revenue collection system to help reduce the financing gaps created by the impact of Covid-19.
“Let us ensure that non-tax revenue collection initiatives are implemented and monitored well,” Dr Ng’andu said, according to Kandeta.
And Dr Ng’andu implored relevant public sector agencies to adopt mindsets that are positive, symbiotic, and systemic.
“During the staff mission, the IMF team will conduct virtual consultative and information exchange sessions with Central Government, Bank of Zambia, Zambia Revenue Authority, and other stakeholders in the Zambian economy. In this regard, Dr Ng’andu has implored relevant public sector agencies to adopt mindsets that are positive, symbiotic, and systemic. The Minister also emphasised the need to identify competent and dedicated staff who will adequately allocate time to prepare for the assignment in order for the country to obtain the best possible conclusive outcome on future cooperation with the Fund,” read the statement.
The meeting was attended by Secretary to the Treasury Fredson Yamba, Permanent Secretary for Economic Management and Finance Mukuli Chikuba, Permanent Secretary for Budget and Economic Affairs Dr Mulenga Pamu, Accountant General Kennedy Musonda and Controller for Internal Audit Chibwe Mulonda.