By AARON CHIYANZOGOVERNMENT should guard against securing an International Monetary Fund (IMF) deal with a raft of conditions that will lead to higher taxes, job cuts and other negative effects, former Finance Minister Katele Kalumba has said.Dr Kalumba said Zambia should present to IMF conditions that were favourable for the country and providing a profile that positions the country positively.He said the IMF sometimes impose tough conditions for the bailout packages because they assume the worst case scenarios for countries.Zambia is in serious talks with IMF for a bailout package.Dr Kalumba said a well constituted team of experts should give the IMF a less dramatic profile for Zambia and negotiate a better deal.“You need to convince them that it’s not that bad because they can assume the worst case scenario. This is what happened to countries like Greece, Italy and Spain when they were in a debt crisis,” he said.Dr Kalumba said sometimes the IMF […]
Govt cautioned on IMF deal
