PF government fails to make real progress with IMF

PF government fails to make real progress with IMF


We are saddened that the latest round of talks between the International Monetary Fund (IMF) and the Zambian government have yet again failed to yield any tangible results of an economic bailout package owing to the rapid erosion of confidence, trust and credibility in the leadership of the Patriotic Front (PF) government.

It is worth noting, that prior to the year 2016 and long before the outbreak of the COVID19 pandemic, the IMF had issued very strong warnings to the PF government against rampant debt accumulation, wasteful public expenditure, unhindered government corruption, poor business policies which have destroyed businesses, as well as the unprecedented politicization of the economy.

We are especially concerned, that the failure by the PF to secure an IMF bailout package will harm Zambia’s ability to resolve the debt crisis, as well as sabotage our nation’s efforts to quickly rebuild the economy into a platform of real opportunity for public healthcare, education, support for agricultural and entrepreneurship for all Zambians.

We reiterate that while a change of government may not be a requirement for an IMF supported bailout, only a change of government can and shall be able to deliver on the key IMF requirements for a bailout package because the preoccupation of the PF government is now ostensibly to keep political power rather than committing to the reconstruction of the economy.

The UPND will continue standing by the Zambian people in rallying calls for an outright change of government as a prerequisite to our now very urgent economic reconstruction endeavors.

Issued: Anthony Bwalya
UPND Presidential Spokesperson
11 May 2021

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