By JAMES MUYANWA –
ZAMBIA is set for this year’s International Monetary Fund (IMF)/World Bank Annual October Meetings, which started yesterday in Washington DC.
Finance Permanent Secretary Mukuli Chikuba said the annual meeting will seek to assess the international economy, progress on development issues such as poverty reductions among member countries.
He said this upon arrival in Washington on Sunday night ahead of the meetings at which the Zambian delegation is expected to be led by Finance Minister Felix Mutati.
This is according to a statement by First Secretary (Press and Public Relations) at the Zambian Embassy in Washington, Cosmas Chileshe.
Last week Mr  Mutati said he would next week (this week) lead the Zambian team for a meeting with the IMF to discuss the way forward with regards to the financial bailout the country has been pursuing.
Mr Mutati had said he would be engaging the IMF on a high level to see how Government and the IMF could work together in stabilising and growing the economy.
The government is expected to table a homegrown programme that would enable the country’s economy to grow.
The second largest Africa copper producer is seeking a US$1.3-billion bailout from IMF for the balance of payment support for the next two years.
Mr Chikuba said the Government has a new country partnership with the World Bank and will seek to have discussions on areas of cooperation especially in the agriculture sector where funding is next year anticipated.
He said the government was also expected to hold discussions with the World Bank regarding the energy sector to address the country’s power deficit.
This follows the World Bank’s support to the Batoka Gorge Hydro Power project which Zambia is developing with Zimbabwe and is estimated to cost US$6 billion with total production capacity of 2,400 megawatts of electricity for Zambia and Zimbabwe.
Mr Chikuba said the World Bank has set aside US$150 million as agriculture sector budget support to Zambia to be provided over a period of three years.