• ECHO

Credible elections key in boosting Zambia’s IMF bailout package chances - Economist



An Economist in Zambia Oliver Saasa, has said injustices in Zambia’s governance system and the electoral process have the potential to dent Zambia’s chances of clinching a deal with the international monetary fund IMF.

Professor Saasa has since advised political players to conduct violent free and clean campaigns to ensure the country gets the much needed loan from the IMF especially that the country is under microscopic observation pre-election.

Professor Saasa told Phoenix news that while Zambia is entitled to an IMF deal, negotiations are not easy and have dragged due to Zambia’s unsustainable debt, unsustainable expenditure pattern, gross domestic product GDP growth, Zambia’s investment pattern and a lack of institutional systems and structures of accountability towards resources.

He has also argued that an election year usually sees government failing to implement austerity measures for political expediency which could also be contributing to the failure to provide proper arguments to the IMF to earn the loan.

Professor Saasa however remained optimistic that negotiations will eventually be concluded with Zambia getting the IMF package as is it is needed pre or post elections for the country to revive the economy.

An Economist in Zambia Oliver Saasa, has said injustices in Zambia’s governance system and the electoral process have the potential to dent Zambia’s chances of clinching a deal with the international monetary fund IMF.

Professor Saasa has since advised political players to conduct violent free and clean campaigns to ensure the country gets the much needed loan from the IMF especially that the country is under microscopic observation pre-election.

Professor Saasa told Phoenix news that while Zambia is entitled to an IMF deal, negotiations are not easy and have dragged due to Zambia’s unsustainable debt, unsustainable expenditure pattern, gross domestic product GDP growth, Zambia’s investment pattern and a lack of institutional systems and structures of accountability towards resources.

He has also argued that an election year usually sees government failing to implement austerity measures for political expediency which could also be contributing to the failure to provide proper arguments to the IMF to earn the loan.

Professor Saasa however remained optimistic that negotiations will eventually be concluded with Zambia getting the IMF package as is it is needed pre or post elections for the country to revive the economy.

(Phoenix News)

0 views0 comments