Zambia: economy minister says talks with IMF ‘progressive’

Zambia’s finance minister Situmbeko Musokotwane says talks with the International Monetary Fund (IMF) are “very progressive”.

Situmbeko Musokotwane, the zambian economy minister said timelines and steps to be taken to advance the process for a highly anticipated Extended Credit Facility, a financial assistance programme offered to countries struggling to pay debts, were discussed.

For the first time since 1998, Zambia plunged into a recession last year. It also defaulted on a debt repayment.

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President Hichilema in his first parliamentary address, committed to reducing the fiscal deficit and restoring economic growth.