PMRC urges for IMF package to resuscitate the economy
By Staff Reporter
The Policy Monitoring and Research Center (PMRC) has reiterated the importance of International Monetary Fund package to Zambia as a requirement for a homegrown economic recovery plan.
According to the annual analysis report, PMRC executive director Bernadette Deka says IMF bailout policy focuses on measures such as economic adjustments, austerities and consolidation of the fiscal position which should be prioritized.
Deka added that Zambia had an opportunity to tap into the US$60 billion cooperation commitment to Africa pledged by China at the Forum on China–Africa Cooperation.
The center also said that the 2019 national budget had been formulated against the framework of austerity measures being implemented by government to deliver fiscal consolidation.
Deka stated that the 2019 national budget provided a firm foundation for the country to return to moderate debt levels, entrench overall macroeconomic stability and promote sustained and inclusive growth.
“The National Budget intends to actualize poverty reduction through proportional investments to sectors as outlined in the 7NDP (7th National Development Plan). The Economic Stabilization and Growth Programme is aimed at fiscal consolidation, reduction of the budget deficit and management of debt while stimulating growth,” she said.
