Zambia, IMF agree budget deficit levels unsustainable - CNBC Africa

Zambia, IMF agree budget deficit levels unsustainable

Southern Africa

by Reuters 0

Photo: Wikimedia

LUSAKA (Reuters) - Zambia's government and the International Monetary Fund have agreed that the country's current budget levels are not sustainable and have initiated discussions on an economic aid programme, a senior Treasury official said on Friday.

In a statement, Treasury secretary Fredson Yamba said inflation was expected to moderate towards the third quarter of 2016, as a new crop harvest came onstream and the base effects of the kwacha's sharp depreciation late last year subsided.

(Reporting by Chris Mfula; Editing by Stella Mapenzauswa)

 

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