The Jesuit Centre for Theological Reflection (JCTR) has commended governments efforts in continuing to pursue around debt legislative framework, institutional strengthening and systems as well economic reform strategies.
This follows the approved 1.3 billion US dollars by the International Monetary Fund (IMF) Board, a 38-month ECF arrangement for Zambia to help restore macroeconomic stability and foster higher, more resilient, and more inclusive growth.
JCTR executive director Fr. Alex Muyebe pointed out as an example, the recent enactment of the Public Debt Management legislation demonstrates efforts that the nation has put in place to ensure that as Zambia addresses the current huge debt burden, it is set on a right trajectory.
Fr. Muyebe further called for reforms that put the interest of the nation at heart aimed at strengthening public debt management in a transparent and accountable manner.
“There is need to be magnanimous enough and implement effective short to medium term measures that will address the deficit problem that led to excessive borrowing. Beyond the International Monetary Fund program, government must develop a more aggressive home grown solutions to stimulate domestic resource mobilization with emphasis on private sector led economic growth,” he said.
Meanwhile, Golden Party of Zambia GPZ leader Jackson Silavwe who has also commended the move by government and the IMF also called on Government to release the full details of the deal for the people and stakeholders to fully appreciate it and avoid unwarranted speculations.
“It is extremely imperative that the Government gives a full disclosure of the details to be met during the life (3 years) of the IMF deal,” he said.