IMF says the economic prospects of Zambia for the year 2011 are favorable

The international monetary fund has pointed out that the economic prospects of Zambia for the year 2011 are favorable.

And imf says the country’s projected economic growth remains strong in 2011 at 6.4 percent and over the medium term.

Imf mission chief for Zambia, Mr. George Tsibouris, noted that the 2011 national budget is consistent with the maintenance of sound macroeconomic policies and states that the envisaged revenue enhancement is appropriately ambitious and stems from new tax policy measures, administrative improvements, and payments of tax arrears.

And Mr. Tsibouris stated that with a projected reduction in external budget support, an increased proportion of infrastructure spending particularly in the electricity and road sectors is to be financed non-concessionally, consistent with preserving debt sustainability.

The IMF’s Executive Board is expected to consider the completion of the 5^th review of Zambia’s ECF in mid-December 2010.

An International Monetary Fund mission visited Zambia from October 28 to November 3, 2010 to continue discussions for the fifth review under the Extended Credit Facility and had discussions with Finance and National Planning Minister dr situmbeko musokotwane; central bank Governor Dr. Caleb Fundanga, and other senior officials.

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