Zambia’s President Edgar Lungu in Money Talks with IMF

The President of Zambia, Edgar Lungu, on Tuesday held funding talks for the country with a top official from the International Monetary Fund (IMF).

News Central had earlier reported Lungu’s meeting with IMF African Department Director, Abebe Aemro Selassie, at the State House on Tuesday. But, a statement from the presidency, has now confirmed the report, saying wide-ranging issues regarding Zambia’s relations with the international lender and the way forward were discussed.

The official, according to the office, was in the country as part of an assessment following Zambia’s request for an IMF financing agreement.

The Zambian authorities have formally requested a financing agreement to support their reform efforts which were currently being assessed.

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The IMF official and his delegation will be in Zambia up to Dec. 9.

In November, Zambia became Africa’s first COVID-19 era sovereign default nation after it failed to pay a $42.5m coupon on one of its Eurobonds.

The Zambian economy faces severe battering which has been worsened by the COVID-19 pandemic.

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