IMF EAGER TO WORK WITH GOVERNMENT, SET TO VISIT IN NOVEMBER

The US Treasury representative has commended Zambia for the bold decision to maintain the Value Added Tax system, the decision, according to the observation by the US Treasury, helped to remove uncertainty in the business community in Zambia and among the country’s development partners across the globe.

Eric Meyer the USA Deputy Assistant Secretary for Africa, Middle East and Multilateral Development Banks said he wished Zambia the best in its efforts to stabilise the economy and look onward to improved common trust in relationship with the Fund.

This came to light in a statement issued by Ministry spokesperson Chileshe Kandeta at a bilateral meeting between the Zambian team led by Dr Ng’andu and the IMF Director for the African Region, Abebe Sellasie Deputy Director (Africa Region) David Robinson Mission Chief Dan Gura and other senior IMF officials.

Mr Meyer further applauded Finance Minister Dr Bwalya Ng’andu for re-affirming the Zambian Government’s commitment to address the debt situation for the measures taken to dismantle domestic arrears.

Furthermore Dr Ng’andu invited the US to consider investing in the Zambian energy sector with special focus on solar and thermal energy options.

The Minister stated that Zambian authorities have been working with different partners to improve data accessibility and reliability in the mining sector to ensure that suspicions that arise on mineral production are eliminated.

He also expressed confidence at the Zambia Revenue Authority (ZRA) saying that he trusts that his ministry will do its best in making sure that they reach their goal adequately.

Dr N’gandu said efforts are being stepped-up to ensure that the current efficiency challenges in domestic resource mobilisation, related to tax evasion, smuggling and other tax avoidance practices, are overcame.

Meanwhile, the International Monetary Fund confirmed that they will field a staff visit to Zambia in a fortnight to exchange data and views on policies government is undertaking to stabilizing the economy.

The United States of America Treasury has expressed eagerness of the world’s biggest economy to support Zambia in the pursuit of a program with the International Monetary Fund.

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