IMF approves Hakainde Hichilema’s US1.3 Billion fund program

Zambia will soon access a US$1.3 billion support fund after the International Monetary Fund approved to provide Hakainde Hichilema with debt relief.

Kristalina Georgieva, the IMF’s managing director, said that she was very pleased that the fund was approved in a bid to help Zambia build a better future.

Writing on Facebook, Hichilema said: “Our US$1.3 BILLION IMF-supported program has been approved… We are grateful to the IMF Board, and cooperating partners for your sustained support.”

He said today’s announcement is a vote of confidence in his Government and in the people of Zambia.

Below is Hichilema’s full statement

Fellow citizens,

Our US$1.3 BILLION IMF-supported program has been approved.

Today’s announcement is a vote of confidence in your Government and in the people of Zambia.

The international community has recognised the progress we have made, and our commitment to reviving our economy and becoming a responsible member of the family of nations.

Today’s announcement will culminate in jobs for our people, a more affordable cost of living, and enhanced development prospects for every province in our country.

We are grateful to the IMF Board, and cooperating partners for your sustained support.

To the people of Zambia, we say ‘Thank you’ for believing in us and for the collective hard work and sacrifices made in achieving this milestone.

It is now time to get back to work. There is still more to be done.

Hakainde Hichilema,
President of the Republic of Zambia.