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Zambia needs the IMF package because it will bring about technical assistance and boost investor confidence as the country undertakes economic reforms, financial analyst Agape Kapasa has said

Dr Kapasa in an interview said IMF package would give Zambia an opportunity to a sizeable and affordable refinancing tool.

He said the refinancing tool can be restructured as a balance of payment support that would allow the country to cover the debt principal repayment obligation that the country have.

“IMF financing usually comes in the form of conceptual zero or no interest loans that would allow us to redeem our Euro bonds early, which would offer a sizeable debt service relief if we also consider interest payment on debt servicing,” he said. Dr Kapasa said the IMF deal would send out the right signal to investors and attract them to the country. “What we need to do is for Zambia to negotiate for an IMF package and use the money in the right channels of the economy in order to bring about development in the country,” he said. And Dr Kapasa said there was need for the country to develop its manufacturing sector to bring about sustainable development.

He said increasing exports would help bring about sustainable development.

“These are some of the methods we need to work on as a country so as to develop our country as we move to the next generation,” he said.

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