UK welcomes $1.3 billion IMF support package for Zambia
THE United Kingdom has welcomed the approval of a $1.3 billion support package for Zambia, announced by the International Monetary Fund (IMF) as a means to help restore Zambia’s macroeconomic stability, and foster economic growth.
UK Minister for Africa Vicky Ford said the success of the IMF deal is a key step toward improving Zambia’s economic prospects.
“Delighted the IMF has agreed a landmark $1.3 billion programme for Zambia. Congratulations to my Zambian friends for this breakthrough agreement which will help get Zambia’s economy back on a path to sustainable growth, unlock investment and strengthen the government’s reform agenda,” Ford said.
And UK High Commissioner to Zambia Nicholas Woolley said the deal supports the government of Zambia’s ambitious reform agenda.
He said the deal includes important reforms to the electricity sector, fuel subsidies and to FISP, which will be delivered in the coming months.
Mr Wooley said the UK in Zambia strongly supports the reforms and commends the IMF for backing thee important domestic agenda.
“I am thrilled that IMF Board has approved $1.3billion program for Zambia. It is a major milestone that paves way for World Bank on-budget support, resolving debt, sustainable economic growth, delivering more jobs and more investment in Zambia’s social sectors and development. I Salute government and all involved,” he said.
Mr Wooley said the reforms have the potential to significantly increase funding available for development and poverty reduction.
He said the UK will remain a steadfast partner for Zambia as it continues this reform journey, building on robust progress over the last 12 months.
(Mwebantu, Thursday, 1st September, 2022)
FIFA Women’s World Cup Trophy Tours Zambia. As MultiChoice hosts the prized trophy
THE FIFA Women’s World Cup Trophy has touched down in Zambia as part of the global tour by FIFA as a build-up to the Women’s World Cup games.
The spellbinding journey – which, for the first time, is offering all 32 qualified nations the chance to see Women’s football’s biggest prize up close before the football show kicks off in Australia and New Zealand from 20th July 2023 to 20th August 2023. Zambia is one of the 32 nations that have qualified for the 2023 FIFA Women’s World Cup.
The event to welcome the celebrated trophy was held at MultiChoice Zambia and speaking at the occasion Leah Kooma, Managing Director at MultiChoice Zambia said, “The FIFA Women’s World Cup Trophy tour is in many ways a great initiative for everyone who loves football. It has provided a great chance for football fans, particularly in Zambia, to be close to one of the most iconic symbols in Women’s football”.
She added, “We have the world cup right here, the girls have qualified and just this means the girls stand a chance to bring the cup back to Zambia.”
MultiChoice will carry live all the games of the FIFA Women’s World Cup tournament on your World of Champions, SuperSport both on DStv and GOtv platforms. The live broadcast of the World Cup games will avail many Zambian fans and the rest of the continent an opportunity to watch and follow their favorite game in the comfort of their space.
The trophy tour gives football fans around the participating countries the opportunity to get ready to taste the feeling of the most anticipated sporting event – the 2023 FIFA Women’s World Cup.
The first leg of the FIFA Women’s World Cup Trophy Tour kicked off in Morocco before heading to South Africa and then Zambia. The trophy will conclude its African tour on 26th March in Nigeria before heading to South America.
IMF mission jets in Zambia for first review discussions
AN International Monetary Fund(IMF) mission has arrived in Lusaka to commence the first review of Zambia’s IMF Program under an Extended Credit Facility (ECF) arrangement, and Article IV consultations.
The discussions come after Zambia received Executive Board approval for an IMF programme in August 2022.
The IMF programme supports the government’s reform plan to restore debt sustainability, create fiscal space for much-needed social spending, and achieve sustainable and inclusive economic growth.
The IMF delegation which is in the country is being led by Allison Holland, Mission Chief for Zambia, and will be in Zambia from March 22–5 April to undertake the first review and Article IV consultation.
This is contained in a statement issue by Secretary to the Treasury Felix Nkulukusa.
As part of the programme, the IMF will be undertaking scheduled regular reviews to assess Zambia’s progress in implementation of the ECF programme.
During this first review and Article IV Consultation, the IMF will collect economic and financial information, and discuss the country’s economic developments and policies.
“The Fund will be assessing performance in areas such as restoration of fiscal and debt sustainability; improving debt management and transparency; strengthening governance and financial sector stability; and strengthening financial management,” statement reads.
Mr Nkulukusa said the Ministry of Finance and National Planning is pleased to welcome the IMF Mission Team back to Lusaka and to have the opportunity to discuss Zambia’s positive reform progress and next steps in the program implementation.
He said government remains committed to delivering positive economic impacts for the country and improving the livelihoods of the Zambian people with the support of IMF.
(Mwebantu, Thursday, 23rd March, 2023)
Preeta Law takes office as UNHCR’s new Representative in Zambia
NEWLY appointed United Nations High Commissioner for Refugees (UNHCR) Representative to Zambia Preeta Law says she looks forward to continuing the strong collaboration between UNHCR and the Zambian Government and other stakeholders.
Ms Law who has assumed her official duties in the country served as UNHCR Representative in South Africa and as Special Adviser in the Division of International Protection in UNHCR Headquarters prior to her appointment.
She was deployed in complex humanitarian situations in Myanmar and the former Yugoslavia and has held other senior positions in UNHCR, including Deputy Director in the Division of International Protection in UNHCR Headquarters.
Prior to UNHCR ,Ms Law worked with women’s civil society organizations in India.
She holds a B.A. in political science and anthropology from Sarah Lawrence College in the United States.
“I am honored to assume my role as representative in this beautiful and generous country, which has a long history of providing refuge and protection to those forced to flee war and persecution and finding solutions for them,I forward to continuing the strong collaboration that has long characterized UNHCR’s partnership with the Government of Zambia, members of the diplomatic community, UN agencies, non-governmental organizations, civil society and other stakeholders in the refugee programme in Zambia,”said Ms Law.
Minister of Foreign Affairs and International Cooperation, Stanley Kakubo says Government remains committed to offer an open door to those seeking asylum and freedom from war and persecution.
(Mwebantu, Wednesday, 22nd March, 2023)