IMF kule Zambia. Seems template ni Ile ile

O

Okiya

Elder Lister
IMF board approved a new extended $1.3 billion credit facility for Zambia on 31 August 2022.

This comes at a time when China is already responsible for almost 30 pc of Zambia's debt

However the IMF conditions include Zambia reducing fiscal deficit from 6% of GDP in 2021 to a surplus of 3.2% of GDP by 2025. And this is largely to be achieved by drastic cuts in government spending over the period 2022 to 2025.

The measures to achieve above include:

1. Fuel subsidies are going to be fully eliminated by the end of this month (September 2022)

2.Electricity tariffs will have to increase (via subsidy removal) and the IMF wants the Zambian government to publish a plan for doing this by December 2022

3. The hugely successful Farmer Input Support Programme (FISP) will be “reformed” beginning farming season 2023/2024. “Reform” is IMF speak for drastic cuts.

4. Increase revenue through VAT i.e. The IMF wants Zambia to broaden VAT base which essentially means limiting the number of goods that are VAT exempt.

5.Taxes on labour income are also likely to go up in the medium term
 
mzeiya said:
But they are!
Even a simple directive like banning guzzlers for gafment officials might be PR but it works.
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That can be done silently without shouting on twitter. Uhuru Kenyatta also banned the guzzlers but we still see the govt officers using them.
That kind of PR is what made people not see the plunder they did in their first term
 
Okiya said:
3. The hugely successful Farmer Input Support Programme (FISP) will be “reformed” beginning farming season 2023/2024. “Reform” is IMF speak for drastic cuts.
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I'm trying to find some info on this, i.e. what are the short comings with the current setup and what IMF are proposing. I've tried a quick web search but I can't find relevant info
 
Montecarlo said:
Hehehe...were you supporting Brentford? Wazazi is a no go zone.
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Not at all.

They (read - Bretton Woods Institutions) were around during Moi's reign with SAP's etc when he ran the economy to the ground. We know how that went.

Kibaki at least got Kenya out of that mess. The borrowing in UhuRuto's first term has necessitated their return.

Thus my earlier post. That ngamia that quoted me is so emotional one would be mistaken to think ananyesha instead of trying to contextualize what I posted.
 
Swansea said:
Not at all.

They (read - Bretton Woods Institutions) were around during Moi's reign with SAP's etc when he ran the economy to the ground. We know how that went.

Kibaki at least got Kenya out of that mess. The borrowing in UhuRuto's first term has necessitated their return.

Thus my earlier post. That ngamia that quoted me is so emotional one would be mistaken to think ananyesha instead of trying to contextualize what I posted.
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Janitor ,this is a honourable house,
 
Si kwema
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