By BUUMBA CHIMBULUTHE call by the International Monetary Fund (IMF) for governments to subsidise fuel and food prices is a clear indication that they should never be trusted, especially by developing countries like Zambia.Advising governments to provide such subsidies is a trap for developing countries to continue accumulating dollar-denominated debts which will ensure that governments are enslaved to the IMF, according to the former Economics Association of Zambia (EAZ) president, Dr Lubinda Haabazoka.The Zambian government recently removed fuel subsidies, a decision which was in fulfilment of demand from the IMF before bailout funds will be released.Zambia is therefore expected to conclude the IMF deal next month after reaching a staff level agreement on a US$1.4 billion debt bailout package.However, the IMF Head, Kristalina Georgieva, this week encouraged governments to subsidise the cost of food and energy for the poorest members of society through a targeted manner, preferably by providing subsidies.Responding to this statement, Dr Haabazoka […]
Don’t trust IMF – Haabazoka
