An International Economic Expert says the move by International Monetary Fund (IMF) and World Bank group to call for the suspension of debt payment by countries affected by covid-19 gives the Ministry of finance time to properly budget and create a line of credit.
Speaking in an interview with Money FM News, Trevor Simumba said the decision will give the Ministry of Finance time to properly combat the effects of the coronavirus propose a line of credit to be paid after the epidemic is contained.
“IMF’s decision is not a call for the Ministry to be relaxed but collectively preplan because they are still required to pay back the debt,” he added.
He has since called on the Ministry of Finance to be open on the country’s current economic status.
“Zambia’s economy has been facing a number of challenges besides the coronavirus outbreak, hence the need for the Ministry to work in collaboration with various stakeholders and be open about the nation’s position,” he added.
