By Sharon Siame
Government has clarified that Zambia does not have International Monetary Fund (IMF) arrears and has not defaulted on its obligations since the restructuring programme was put in place.
Foreign Affairs and International Cooperation Minister Mulambo Haimbe said the country’s current engagement with the IMF has transitioned from programme lending to post-programme surveillance, which is a standard arrangement following the successful conclusion of an IMF-supported programme.
He said that there is no active IMF lending programme in place at this time.
Mr. Haimbe said that Zambia continues to carry concessional obligations associated with past IMF support, which are long-term, low-interest, and development-oriented.
He said these obligations are fully current, non-distress related, and form part of Zambia’s normal multilateral financing framework.
He added that the successful completion of the IMF programme has unlocked substantial concessional financing from multilateral partners, including the World Bank, reflecting renewed confidence in Zambia’s economic management and reform trajectory.
The clarification follows public commentary regarding Mr. Haimbe’s remarks on Zambia’s engagement with the IMF and the World Bank.
In a statement issued to ZNBC, Ministry of Foreign Affairs and International Relations Principal Public Relations Officer Eva Hatontola said Mr. Haimbe’s statement accurately reflects Zambia’s position under the G20 Common Framework and the IMF-supported reform programme.
