Cooperating Partners Group (CPG) has noted that government’s assurance to implement the austerity measures sends an important message to the international community as it demonstrates the resolve of the authorities in taking corrective measures in the country’s progression towards fiscal health.
Chairperson of the CPG, German Head of Development Cooperation Christoph Fritz has also encouraged the Minister of Finance to continue with the country’s efforts towards acquisition of an IMF Supported Economic Programme.
Mr. Fritz says the IMF program will help to expand the financing options available to Zambia by way of support from other cooperating partners.
He was speaking during a courtesy meeting at the Ministry of Finance this morning.
Speaking during the meeting, African Development Bank Country Manager Mary Monyau has announced the banks approval of a support package that will help Zambia with capacity improvement in domestic resource mobilisation and debt management.
And Finance Minister Dr. Bwalya Ngándu has pledged to meet all corporating Partners individually in order to reach common ground on areas that need attention in order to stimulate faster implementation of development programmes.
The Minister took the opportunity to assure the cooperating partners delegation that the Zambian Government values the relationships that it has with all stakeholders and is keen to strengthen existing ties through various development platforms.
According to a statement issued by Ministry Spokesperson Chileshe Kandeta, other issues discussed in the courtesy meeting were debt management, financial governance, private sector development, value for money public investments, protection of social spending, and drought responsiveness.
Mr. Kandeta has disclosed that “further, the cooperating partners listed the e-voucher programme and the economic stabilisation and growth reforms among the issues that need the closer attention of the Zambian Government.”
He adds that “during the meeting, the two parties agreed on the need for the Zambian Government to develop an action matrix that will help stakeholders to track progress in the implementation of socio-economic policies and reforms in key areas such as agriculture, energy and food security”.