By BUUMBA CHIMBULU GOVERNMENT is in the process of applying to multilateral partner organisations for COVID-19 support, Finance Minister Bwalya Ng’andu has said. The International Monetary Fund has availed US$50 billion to affected countries under the rapid disbursing emergency facilities while the World Bank has approved support of up to US$14 billion under a fast track COVID-19 Facility. “We are in the process of making applications to our multilateral partner organisations for COVID-19 support,” he said at a media brifing in Lusaka yesterday. Dr Ng’andu emphasized that the impact of the outbreak had been both extensive and severe adding that it was a health an economic crisis characterised by financial market stress and a collapse in commodity prices. He said the outbreak had led to disruptions in supply chains, created uncertainties and significantly dampened near-term growth prospects. Meanwhile, the minister said panic buying of essential commodities such as mealie meal has a potential of further […]
Zambia seeks IMF help over COVID-19
