Debt Alliance Commends Government’s IMF Reform Progress, Urges Caution
The Civil Society Organizations Debt Alliance has applauded the Zambian government for its strides in implementing reforms under the International Monetary Fund (IMF) programs, describing the progress as a positive step toward economic recovery.
Speaking on behalf of the alliance, Coordinator Peter Mumba noted that the ongoing reforms are laying the groundwork for sustainable economic growth and have the potential to enhance the well-being of all Zambians. “The country is on track with these necessary reforms, and their successful implementation will be instrumental in building a resilient economy,” Mr. Mumba remarked.
However, Mr. Mumba also urged the government to carefully consider the broader impact of some policy adjustments. He stressed the importance of ensuring that the reforms do not lead to unintended consequences that could exacerbate existing challenges. “While reforms are necessary, their implementation must be measured and considerate of the social and economic realities faced by ordinary citizens,” he cautioned.
A particular concern raised by Mr. Mumba is the prevailing high cost of living, which he said has plunged many Zambians into poverty. He called for the government to prioritize measures that alleviate the burden on households, emphasizing that economic growth must translate into tangible benefits for citizens.
The Debt Alliance’s mixed message underscores the balance needed between pursuing structural reforms and addressing immediate socio-economic pressures. While IMF programs typically focus on fiscal discipline and economic stabilization, there is often public concern about their impact on vulnerable populations.
The government, which has been working to meet IMF program benchmarks, has highlighted the long-term benefits of these reforms, including increased investor confidence, macroeconomic stability, and debt sustainability. However, critics argue that the immediate cost of austerity measures can be steep for citizens already grappling with high food and energy prices.
Observers are calling for increased transparency and public engagement as the government moves forward with its reform agenda. Strengthening dialogue with civil society and other stakeholders, they suggest, will ensure that the reforms are not only effective but also inclusive.
The alliance’s acknowledgment of progress reflects optimism about Zambia’s economic trajectory, tempered by a clear reminder of the human cost of reforms. As Zambia navigates this critical period, the challenge remains to strike a balance between achieving fiscal stability and safeguarding the livelihoods of its people.
There can be no economic growth with insufficient power. Therefore, amalaiti is the fierce urgency of now.
Remember their urgency for now is not malaiti but campaigns, traditional ceremonies are springing up every week, even ceremonies that never really existed are being encouraged to come up to create a platform for him
ZRA are not recording dam levels as they are at 3.5%
Yet Zesco management told us due to the rains the dam had risen 5cms will will result in less hours loadshedding
Does anyone tell the truth or know whats going on ?
Ghana embraced IMF……see what has happened now.
There is no ground work being laid for any sustainable growth here, we heard the same words during MMD, during PF and now during the UPND. The people of Zambia have perpetually been suffering because of the persistence leadership crisis. There is nothing that is changing, talk of the propaganda CDF called game changer whilst nothing is changing on the ground. We are still looking for somebody who us going to come and sort out bread and butter issues. I am okay with my child sitting on the floor without a desk but he has had three proper meals a day
There is no ground work being laid for any sustainable development here. Don’t forget that with debt restructuring we heard the same thing in MMD, PF and now UPND. Zambians are still wallowing in poverty
In Zambia those who wake up early to do an honest job will only end up with a miserable pension at the end of their working life. But crooks like Peter Mumba will dream up some name like Debt whatever and make a lot of money in the shortest time…or like Kaping’a continue praising the evils being committed and you are rewarded with maybe a diplomatic posting.
Madam what an anology. First read the article.
Has Government dont any reform with the IMF? Or the have negociated with debtors (as of yesterday the French on the terms of the debt, from the PF regime) on the way forward?
If there is any negociations with the worldbank or IMF and the benchmarks. It would be as a result of the extentuating factors that make the benchmarks unattainable. Such as the draught and its effect.
But is the article speak concisely to that? Again Journalism in Zambia. And one wonders why people have such a misconception of issues and think Trump, Lungu and their “kubwelelapo” will solve problems. Lawd have mercy on us…
#HaMulenga wrong target again.
ViPuba! This is why this continent is constantly being colonised. Muna chitika some “distinguished in the blain” nzelu mulibe man.