Categories: Editor's Picks

Economist upbeat about Zambia, IMF virtual talks

• The talks will result into something tangible.
• It is something that all market players are looking forward to.
• Should the talks materialize, the value of the Zambian Kwacha will improve.

An Economist has expressed confidence that the resumption of talks between Zambia and the International Monetary Fund (IMF) will yield positive results.
Speaking in an interview with Money FM News, Dr. Patrick Chileshe said all market players are looking forward to see what the outcome of the talks will be.
Dr. Chileshe stated that should the talks materialize, the results will have a very huge effect on the value of the local currency which has continued depreciating.
“I think the resumption of talks between Zambia and the International Monetary Fund is largely positive. It is something that I think all market players are looking forward to, to see how it is going to come out, and should it materialize, it is going to have a very big significant effect on the value of the Zambian kwacha.”
“We are positive that the talks will result into something tangible,” Dr. Chileshe said.
On 30th March 2021, Zambia and the International Monetary Fund (IMF) resumed virtual discussions on the outstanding issues relating to the economic bailout package, which will continue into the first two weeks of this month.
Secretary to the Treasury Fredson Yamba recently announced that talks between the Zambian government and the IMF would resume following the previous round of virtual talks that paused on March 3, 2021.
Zambia requested for a formal IMF programme under the Extended Credit Facility window in November 2020 in order to stabilize the economy, severely hit by the COVID-19 pandemic.

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