IMF withdraws its representative from Zambia

24th August 2018

Local

International Monitory Fund (IMF) resident representative Dr Alfredo Baldini speaks during the Sub-Saharan Regional Economic Outlook for 2017 at Pamodzi Hotel in Lusaka on December 4, 2017 - Picture by Tenson Mkhala

Local

International Monitory Fund (IMF) resident representative Dr Alfredo Baldini speaks during the Sub-Saharan Regional Economic Outlook for 2017 at Pamodzi Hotel in Lusaka on December 4, 2017 - Picture by Tenson Mkhala

The International Monetary Fund has withdrawn its representative in Zambia, Alfredo Baldini, former communications advisor Chibamba Kanyama has revealed.

According to a tweet by Kanyama, an economist and Bridges Limited CEO, the IMF is unlikely to send a replacement anytime soon.

“IMF has withdrawn its representative in Zambia, Alfredo Baldini and does not plan to have a replacement any time soon. This happened to Ethiopia/Zim but under rate circumstances. What message is IMF sending cz ResRep not here for program only?” twitted Kanyama.

And Kanyama added that Eurobond owners must forget about a bailout package from the IMF to Zambia, saying there was no hope left.

“I pity the Eurobond holders who still believe that IMF programme for Zambia is still on. This level of optimism is like that of helpless congregants who still believe their bishop will come back from the morgue,” he stated.

But Chief Government Spokesperson Dora Siliya says Baldini’s replacement will be in the country soon.

“The IMF is in Zambia for various Progs and is not leaving. However, Mr Alfredo Baldini is leaving Zambia. His replacement will be here soon. Hon. Mwanakatwe will issue a detailed statement over the weekend. As such the circulating tweet must be ignored,” Tweeted Siliya a few minutes ago.