The Zambian government on Wednesday said delay in concluding a financing package with the International Monetary Fund (IMF) will not weaken nation’s ability to implement the 2018 national budget.
Ministry of Finance Public Relations Officer Chileshe Kandeta said the delay in sealing the financing package will not affect financing of the budget as the deal was meant to support balance of payments.
“The domestic resource mobilization enhancement measures which are being implemented as part of the 2018 budget, coupled with the stepped-up focus on public-private partnerships, will be the game changers in the way the government finances development programs,” he said in a statement.
According to him, the envisaged IMF support has not been taken into account in the government’s economic parameters as no program has been concluded yet.
Last year, Zambia and the IMF failed to conclude a deal for a 1. billion U.S. dollars financing package and the two parties agreed to chart a new path towards debt sustainability after the international financial institution expressed concern on the rising debt. Enditem
