Govt, IMF partner for economic growth, says Mutati

September 21 2016

GOVERNMENT will work together with the International Monetary Fund (IMF) and other cooperating partners in constructing the country’s economic recovery program, Finance Minister Felix Mutati has said.

Mr Mutati said he believed that President Lungu would prescribe invaluable reforms aimed at assisting the country in handling the pressing socio-economic challenges facing our people and shipping them out of the troubled waters of poverty.

This is according to a statement prepared by the ministry’s public relations officer Chileshe Kandeta after the British High Commissioner to Zambia Fergus Cochrane-Dyet paid a courtesy call on the minister to congratulate him on his appointment.

“I believe that President Lungu’s exceptional leadership talent coupled with the diverse experience of his team, will prescribe invaluable reforms aimed at assisting the country in handling the pressing socio-economic challenges facing our people and shipping them out of the troubled waters of poverty,” he said.

According to the statement, the ministry of finance had embarked on rigorous engagement with internal and external stakeholders to ensure that broad consultation was attained in formulating economic recovery policies which would be announced alongside the 2017 Budget.

“As part of the economic recovery consultation process, Mr. Mutati is this week scheduled to meet the Industrial Development Corporation, Bank of Zambia, Bankers Association of Zambia, Zambia Revenue Authority, and the Zambia Chamber of Mines,” read the statement in part.

And Mr Cochrane-Dyet said there was sufficient room for improved engagement between Britain and Zambia.

“We are ready to share experiences and help build capacity in order for Zambia to recover from her economic shocks,” he said.

Mr Cochrane-Dyet also introduced the visiting British Department for International Development Chief Economist Professor Stefan Dercon.

Speaking during the visit, Proffessor Dercon advised that export oriented economic diversification as a way of cushioning Zambia’s legacy dependency on copper revenue inflows is one option that the country could consider.