Governement assesses debt trajectory as it courts new IMF programme

Government says it has assessed its debt trajectory as part of a bid to court International Monetary Fund support after the Fund rejected the country’s debt management plans in February.

The analaysis provides a basis for fresh talks with the IMF on a possible financial assistance programme, the finance ministry said on Tuesday in a statement that gave no figures.

The economy is expected to sustain growth of more than 4% this year helped by its mining, agriculture and construction sectors.

The government faces pressure to rein in spending, especially as it heads towards a 2021 presidential election in which President Edgar Lungu is expected to run for a second full term.

“Cabinet will be briefed on the outcomes of the exercise and on the executive decisions that are required to be undertaken to successfully finalise the engagement with the Fund,” it said.