IMF clarifies delay on Zambia’s bailout
The International Monetary Fund has clarified that discussions on a possible US$1.3 billion IMF support program for Zambia were put on hold because there is work that needs to be done pertaining to government’s policy intentions for the country.
IMF country representative Alfredo Baldini says the discussions on the IMF bailout were put on hold because new information provided on government’s external borrowing plans needed to be reconciled with the key program objective of putting Zambia’s public debt on a sustainable path.
Mr. Baldini has further dismissed as false an online publication suggesting that the former IMF country mission chief Tchidi Tsikata was replaced for failing to close the deal with the Zambian government.
He has since announced that the IMF director for Africa department Abebe Selassie and the newly appointed mission chief to Zambia Baileau Loko will be in the country from 1st to 2nd November to meet with the Zambian authorities to discuss recent economic developments and policies.