Off the wire
• Meningitis outbreak kills 76 in Niger  • Commentary: China a responsible player in climate change fight  • Singapore stocks close 0.69 pct lower  • China Exclusive: Fukushima water tests faster with new tech  • ADB's lending soars to 27.17 bln USD in 2015  • Pakistani soldier dies in roadside bomb attack  • Feature: Ecuador riveted by tales of quake survivors  • Russia says 1994 ceasefire agreement in Nagorno-Karabakh has indefinite term  • Top news items in major Kenyan media outlets  • Six dead in bus mishap in N. Philippines  
You are here: 　 Home

Zambia agrees with IMF over steps towards aid program

Xinhua, April 22, 2016 Adjust font size:

The Zambian government said on Friday that it had agreed with the International Monetary Fund (IMF) on steps to be taken for a support program.

Secretary to the Treasury, Fredson Yamba, said the agreed targets paved the way for the support program to come into effect during the fourth quarter of this year.

"This is meant to pave the way for their input so that once in place, the program will not be at variance with the budget because a large portion of the program is executed through budget implementation," he said.

Zambia has agreed to adjust its electricity tariffs and fuel pump price, and ensure that austerity measures announced by President Edgar Lungu last November are diligently enforced.

The government is expected to provide the IMF in June with its macro and fiscal plans for the 20117 budget and for the medium term.

The IMF will send a mission to Zambia in September to finalize budget numbers.

Last week, the IMF said it would only provide Zambia with a support program after the holding of general elections on August 11, 2016. Endit