By JAMES KUNDA –

.TAYALI

THE stance of the International Monetary Fund (IMF) regarding Zambia’s economic diversification programme indicates that the Patriotic Front (PF) Government is implementing policies that will yield fruitful results for the country, Zambian Voice executive director Chilufya Tayali has said.
Mr Tayali said in an interview in Lusaka yesterday that the IMF’s confidence in Zambia’s diversification path was an indication that the Government meant well for the country.
Recently, IMF managing director Christine Lagarde phoned President Edgar Lungu, indicating her organisation’s full backing of Zambia’s diversification programme from a mono-economy.
Ms Lagarde told the Head of State that the IMF was confident that the diversification agenda would be achieved to circumvent future shocks emanating from a volatile global economic environment.
Mr Tayali said that all well-meaning individuals and institutions had come on board to support President Lungu’s plan to transform the country from its dependency on copper as a sole foreign exchange earner.
“We applaud the IMF for recognising the positive steps being taken by the President and his Government to revive the economy.
“In the current state, the support of institutions such as the IMF is fundamental because it will make it easy for the country to fill the resource gaps in its quest to achieve economic diversification,” he said.
Mr Tayali said it was cardinal that other Bretton Woods institutions emulated the IMF by supporting Zambia attract investment in the sectors where diversification was earmarked.
“These institutions mingle with so many high profile people and with the realisation of the help we require in the area of diversification, it would be useful that they help market our potential as the primary destination of foreign investment,” he said.
A team from the IMF was recently in the country for a series of high-level meetings with Government officials, and Ms Lagarde has said dialogue between both parties would be enhanced.
The IMF team is expected to return for a similar engagement in March next year.