Government Urged To Speed Up Measures That Will Help To Clinch The IMF Bailout Package

By Tinkerbel Mwila

Private sector development association Chairperson Yusuf Dodia has called on government to speed up measures that will sharpen chances to clinch the long awaited international monetary fund –IMF- bailout package.

Mr. Dodia is of the view that doing so will help the country’s economy to recover at a faster rate as opposed to the current situation.

He told Phoenix Business News that the US$1.3 billion sought after by Zambia from the IMF would help in reducing the increasing high cost of production and doing business.

Zambia has been pursuing a US$1.3 billion financial bailout from the IMF for over three years but the IMF has stressed the need for a large, front-loaded and sustained fiscal adjustment that would help set debt on a downward path and reduce domestic arrears.

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