THE debate over Zambia’s ongoing engagement with the International Monetary Fund (IMF) has sparked a clash of perspectives between Economist Noah Kabwita, and Finance and National Planning Minister Dr Situmbeko Musokotwane. While Kabwita insists that Zambia no longer needs the IMF’s extended credit facility and should graduate from dependence, Dr Situmbeko Musokotwane, on the other hand, argues that pulling out of the programme at this stage would destabilise the budget and jeopardise donor confidence. In our opinion, both men are right, and also wrong. Kabwita’s fundamental argument is rooted in sovereignty and confidence that Zambia, having made macroeconomic progress and exited the worst of its debt crisis, should demonstrate that it can chart its own path. He is not advocating...
