Economics
Zambia Needs IMF Aid, Ex-Finance Minister Musokotwane Says
- Government avoiding spending cuts ahead of 2016 elections
- Zambia `not averse' to IMF package, deputy minister says
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Zambia should access emergency funding from the International Monetary Fund to prevent further deterioration in the economy, according to Situmbeko Musokotwane, a former finance minister in Africa’s second-largest copper-producing country.
A team from the Washington-based lender visited Zambia this month at the invitation of the government to assess the state of the economy and discuss responses to the fiscal issues facing the country. Neither the government nor the IMF mentioned the possibility of talks about an economic program in their statements at the end of the tour on Nov. 20.