The Zambian government and the International Monetary Fund won’t be holding meaningful discussions on a proposed $1.3-billion aid program at the Washington-based lender’s annual meetings this month after talks were put on hold in August. The nation’s Eurobond yields climbed.

This is contrary to lies by MMD’s Felix Mutati who is also the minister of PF ministry of Finance. While deliberately messing up the IMF discussions, Mutati has been lying to Edgar Lungu and his corrupt group that ‘all is well and the IMF will give Zambia a bail out.

A few days ago, Mutati was still lying that ‘“Next week I will be engaging with them at the highest level, so I am going to have the engagement about fiscal fitness that we need to help each other. We are on the same platform, what we take to the table is a home-grown programme.”

But, according to Bloomberg news agency, the IMF today said:

“IMF staff will be meeting the Zambian delegation at the IMF-World Bank annual meetings to discuss next steps,” Alfredo Baldini, the fund’s resident representative in Lusaka, Zambia’s capital, said in reply to emailed questions. “No substantive program discussions will be held at the annual meetings.”
The southern African nation had hoped to resume talks over the planned program this month and reach a deal by the end of the year. Africa’s second-biggest copper producer has been in talks about an economic-aid program from the fund for at least three years.

In 2016, it sought help from the institution after metal prices fell and a drought plunged the country into a power crisis. The kwacha was as much as 50 percent weaker against the dollar in 2015, and the budget deficit soared to about 10 percent of gross domestic product as foreign-exchange reserves rapidly dwindled.

“No agreement has been reached on an IMF-supported program for Zambia,” Baldini said. Talks over a program were put on hold in August, and the fund’s staff prepared a so-called Article IV report on the country that it presented to the board on Oct. 6, he said.

Debt Balloons
The country’s ballooning debt levels are key to negotiations with the fund. The rise, especially in external borrowings, “has increased and now put Zambia at high risk of debt distress,” the IMF said in a statement published later on Tuesday.

Yields on Zambia’s $1 billion Eurobond due 2024 rose as much as 15 basis points before retreating to 7.06 percent by 7:43 p.m. in Lusaka.

Zambia’s economy will probably expand 4 percent in 2017 and 4.5 percent next year, according to the fund.
The country probably won’t reach a deal with the IMF until the first half of next year, Bank of America analysts Rukayat Yusuf, Jean Michel Saliba and Gabriele Foa said in a note to clients in September. Still, Finance Minister Felix Mutati is aiming to have one by the end of 2018.
“We remain confident that we will secure a deal,” Mutati said in an interview Oct. 5. “Our target is that we need to reach a deal as quickly as possible, and preferably before the end of the year.”


  1. The problem with us Zambian s is that we have hitching ears. This Mutati thing has been cheating us with his stupid ,useless budget dat things are getting better kanshi he is trying to keep his stupid job. That chakolwe gave him. Birds of the same feathers flock together. Mbuli clever that’s what he is.

  2. my name is Juliet Mwandikwa am from Uganda and this is a testimony of how i got cure from HIV/AIDS, i have being suffering from hiv/aids for the past 8 years without the expectation of being cure, i was on ARV, despite the ARV i was not comfortable and there was nothing i could do because i knew and i was told by my doctor that there is no cure for HIV/AIDS, my dream of getting cured came to past the day i came across a testimony like this on a facebook page of how someone was cured through the help of DR ABUMEN herbal medicine, i was advice its not real that there is no cure but something keep telling me to contact him, of which i later did and the cure was sent to me with an instruction on how to use it which i did accordingly and went for a test, to my greatest suprice the result was negative i could not hold back the tears of joy running down my chick my doctor was shocked, i thank God that am finally cured from hiv/aids, DR ABUMEN is an herbal specialist that can cure hiv/aids, you can contact him through his email which is [email protected] or whatsapp his mobile number is +2347085071418, am sharing to save lives, PLEASE SHARE TO SAVE SOME LIVES.

Comments are closed.