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Margaret Mwanakatwe on investment opportunities in Zambia
Investment opportunities in the mining sector in Zambia, Zambia’s dialogue with the IMF about a possible debt bail out, and priorities to ensure the growth of the Zambian economy are among the topics addressed by Zambia's Finance Minister Margaret Mwanakatwe in her conversation with CNBC Africa’s Fifi Peters at the 25th Investing in African Mining Indaba in Cape Town.
Fri, 08 Feb 2019 11:20:52 GMT
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AI Generated Summary
- Zambia's Finance Minister highlights the country's engagement with mining companies to attract investments, particularly in cobalt mining, leveraging the vast resources in the sector.
- Ongoing dialogues with the IMF focus on data alignment and debt sustainability, with a view towards potentially entering into a program with the international financial institution.
- Managing debt remains crucial for Zambia, with discussions aiming to avoid default and ensure financial stability amid global economic challenges.
Zambia's Finance Minister, Margaret Mwanakatwe, recently spoke with CNBC Africa's Fifi Peters at the 25th Investing in African Mining Indaba in Cape Town. During the interview, Mwanakatwe discussed various topics, including investment opportunities in the mining sector in Zambia, ongoing dialogues with the International Monetary Fund (IMF) regarding a possible debt bailout, and priorities for ensuring the growth of the Zambian economy. Mwanakatwe highlighted the country's engagement with mining companies operating in Zambia, particularly in the Copper Belt and northwestern province. She emphasized the importance of maintaining existing relationships while attracting new investors to capitalize on the vast opportunities in Zambia's mining sector, with a specific focus on cobalt mining. The finance minister also mentioned interactions with financial institutions that are considering extending loans to Zambia, noting the importance of managing the country's debt to avoid default. Mwanakatwe provided insights into Zambia's discussions with the IMF, emphasizing the need for alignment on data and debt sustainability to potentially enter into a program with the international financial institution. She confirmed that Zambia had not defaulted on any debt and refuted false reports suggesting Chinese takeover of state-owned enterprises like Zesco due to loan defaults. The upcoming discussions in March with the IMF were highlighted as critical for analyzing debt data and formulating a policy framework that benefits both parties.
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