IMF to Send Technical Team to Zambia This Month to Get Data
2018-07-12 15:12:35.214 GMT
By Taonga Clifford Mitimingi
(Bloomberg) – The International Monetary Fund will send a technical team to Zambia from July 23 to 27 to collect data and update the macroeconomic framework, it said.
It plans an article IV mission to the southern African
nation in the September-October period, *and has no plans to take a proposed economic program for Zambia to its Board’s September meeting*, it said in an emailed response to questions.
Zambia is shelving projects that aren’t almost complete and will renegotiate loans as it seeks to contain ballooning debt and entice the IMF to restart talks on a support package.
The Washington-based lender has warned the country is at high risk of debt distress, while investors have grown skeptical about the amount of external loans the country claims it has incurred, saying it may be significantly more than the $9.3 billion announced.