Zambia

Zambia : Statement at the end of an IMF Article IV Mission

LUSAKA, Zambia, December 19, 2014/African Press Organization (APO)/ — An International Monetary Fund (IMF) team led by Tsidi Tsikata visited Zambia during December 4-18 to hold discussions for the 2014 Article IV consultation.

At the end of the mission, Mr. Tsikata issued the following statement:

“The Zambian economy continues to register strong growth. Non-mining growth has remained close to 7 percent, but technical outages at some mines led to a decline in copper production that is projected to reduce overall real GDP growth to about 5½ percent in 2014. The exchange rate depreciated sharply in the first half of the year. A marked tightening of monetary policy and a boost to international reserves from Eurobond proceeds helped to partially reverse the depreciation and stabilize the exchange rate. Nevertheless, the annual rate of inflation edged up to 8.1 percent in November.

“Zambia’s growth potential remains high, but the medium-term outlook is clouded by domestic and external risks. The outlook is buoyed by several mining and electricity supply projects that are about to come on stream. However, political and social pressures for loosening fiscal policy in the run-up to the 2016 general elections are potential sources of downside risks. Moreover, lower world copper prices and the announced shift to a royalty-only mining tax regime with high rates are likely to adversely affect the mining sector. The authorities indicated that they are looking to assuage the concerns of mines and prevent closures.

“Greater policy stability and consistency would help anchor confidence in Zambia as an attractive investment destination. In this regard, the mission urged the authorities to seek a speedy resolution to the impasse over VAT refunds to exporters. More generally, it will be important to enhance dialogue between stakeholders, particularly between government and the mining sector where there is a need to build mutual trust.

“Effectively addressing the country’s fiscal imbalances is critical for maintaining macroeconomic stability and ensuring a strong foundation for sustained economic development. Despite some progress in 2014, keeping public finances in line with approved government budgets has proved challenging, and deficit financing has put upward pressure on interest rates. In the mission’s view—based on the current international and domestic environment—the 2015 financing requirement is likely to be larger than planned. The mission welcomed the authorities’ intention to take measures to keep the deficit within the budgeted level. Such consolidation would, with time, allow for a normalization of monetary policy and a reduction in interest rates.

“After the January 20 presidential by-election, the mission team will engage the incoming government to discuss its policy intentions and priorities before submitting a report to the IMF Executive Board on the 2014 Article IV consultation.

“The team met with Finance Minister Alexander Chikwanda, Bank of Zambia Governor Michael Gondwe, and other senior government officials, as well as members of parliament and representatives of the private sector, civil society, and development partners. The mission wishes to thank the authorities for their hospitality and for the open and constructive spirit in which the discussions were held. It also expresses its gratitude to all other stakeholders with whom it held discussions.”

Categories: AFRICA, AFRICAN COUNTRIES, ECONOMY, Zambia | Tags:

Zambia : Emergency Grant Aid for the Presidential By-Election

1. On December 16, the Government of Japan decided to extend emergency grant aid of approximately 640,000 U.S. dollars (approximately 76.4 million Japanese yen) through the United Nations Development Programme (UNDP), in order to support the smooth implementation of the presidential by-election

Categories: AFRICA, AFRICAN COUNTRIES, POLITICS, Zambia

Zambian Government and IBM to Provide Improved Access to Life Saving Drugs

LUSAKA, Zambia, May 22, 2014/African Press Organization (APO)/ — IBM (NYSE:IBM) (http://www.ibm.com) today announced a collaboration with the Zambian Ministry of Health to provide citizens with improved access to 200 lifesaving drugs. Supported by the World Bank, the Department for International Development, UNICEF and London Business School, Zambia’s Medical Stores Limited (MSL) will deploy a […]

Categories: AFRICA, HEALTH, Zambia

AfDB approves US $150-million loan to support access to reliable electricity supply in Zambia

TUNIS, Tunisia, October 4, 2013/African Press Organization (APO)/ — The Board of Directors of the African Development Bank (AfDB) (http://www.afdb.org) approved on Wednesday, October 2 a senior loan of up to US $150 million to finance a 300MW coal-fired power plant as well as the revamping of the Maamba coal mine in Maamba, Zambia. The […]

Categories: African Press Organization, ENVIRONMENT, Zambia

UN-WTO Art Discussion Forum in Zambia: call for papers

UN-WTO Art Discussion Forum in Zambia: call for papers Between the 24-29 August 2013, Zambia and Zimbabwe will co-host the 19th Session of the UN-WTO General Assembly in Livingstone, Zambia. The Shungu Namutitima International Film Festival (SHUNAFFoZ) is hosting a parallel conference and welcoming discussion papers on the fundamental nature and motivations of artistic creative productions, […]

Categories: CONFERENCES, Zambia, Zimbabwe | Tags:

Westerwelle calls for investigation into Zimbabwe election results

Foreign Minister Westerwelle calls for investigation into Zimbabwe election results BERLIN, Germany, August 5, 2013/African Press Organization (APO)/ — A Federal Foreign Office spokesperson issued the following statement on the conduct and outcome of the presidential elections in Zimbabwe: Foreign Minister Westerwelle is very critical of the lack of transparency and alleged irregularities in Zimbabwe’s […]

Categories: African Press Organization, POLITICS, Zambia

In Zambia, harassment of Watchdog site continues

NEW YORK, July 18, 2013/African Press Organization (APO)/ — Zambian authorities should stop their ongoing harassment of the Zambian Watchdog, a site that reports on alleged government corruption, the Committee to Protect Journalists said today. Police arrested another journalist they accused of contributing to the site, and blocked domestic access to the site for the […]

Categories: AFRICA, African Press Organization, Zambia

Zambia – EU Backs Drive Against Trafficking and Exploitation of Child Migrants

EU Backs Drive Against Trafficking and Exploitation of Child Migrants in Zambia GENEVA, Switzerland, July 16, 2013/African Press Organization (APO)/ — The European Commission has contributed EUR 2 million to IOM, UNHCR and UNICEF to support a programme to combat human trafficking and exploitation among some 10,000 child migrants and asylum seekers in Zambia. The […]

Categories: AFRICA, African Press Organization, Zambia

Zambia – Two journalists detained without charge

NEW YORK, July 10, 2013/African Press Organization (APO)/ — Zambian authorities should release two journalists who have been detained since early Tuesday, the Committee to Protect Journalists said today.   Police raided the homes of Clayson Hamasaka and Thomas Zgambo, saying they were looking for drugs and seditious material and accusing them of publishing stories […]

Categories: AFRICA, African Press Organization, Zambia

Critical website blocked for four days in Zambia

NEW YORK, June 28, 2013/African Press Organization (APO)/ — A private website that documents alleged Zambian government corruption has been blocked in the country since Monday, its editor told CPJ. The Zambian Watchdog’s Lloyd Himaambo has said that the website’s staff believes the authorities are responsible for ordering the blocking.   Internet and mobile service […]

Categories: AFRICA, African Press Organization, Zambia

ZAMBIA – Fund-raising: from Lusaka to Florence by bike

ROME, Italy, May 24, 2013/African Press Organization (APO)/ — Travelling from Lusaka to Florence on a bamboo tandem, through 13 African and two European countries, to raise funds to build a school in Zambia. That’s the challenge organised by Sport2build, an Italian non-profit, on which Matteo Sametti, one of the charity’s founders, will soon be […]

Categories: AFRICA, African Press Organization, Zambia

Li Keqiang Meets with Zambian President Sata

Li Keqiang Meets with Zambian President Sata, Agreeing to Carry forward the Traditional Friendship and Open up New Prospects of China-Zambia Cooperation BEIJING, China, April 12, 2013/African Press Organization (APO)/ — On April 10, 2013, Premier Li Keqiang met with Zambian President Michael Chilufya Sata at the Great Hall of the People.   Li said […]

Categories: AFRICA, African Press Organization, POLITICS, Zambia

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