By Derrick Silimina
Finance and National Planning Minister Situmbeko Musokotwane is leading a key delegation in Washington DC for the 2024 Annual Meetings of the International Monetary Fund and the World Bank Group.
In a statement, Dr Musokotwane said the strategic intent of the Zambian delegation at the 2024 Annual Meetings will help promote investments in the mining, agriculture, tourism and manufacturing sectors while scaling up social sector spending.
“Through structured interactions, we will be able to deepen engagement with development partners, investors and the rest of the global community so that we access the opportunities with the greatest potential for sustaining our country on a strong path of economic recovery, transformation and growth – without leaving anyone behind,” he said.
The Minister added that this year is special because of the unprecedented drought that the country is faced with adding that the situation has challenged Zambians to lift each other up, stand together, and as a united people, build a more resilient and prosperous country.
He reiterated that whatever interventions are adopted, the Government remains resolved to not only provide economic opportunities for citizens but also to ensure that future generations are not burdened with the yoke of unsustainable debt.
“To do this, we need to look at our country’s strengths and explore the global landscape for impactful development cooperation and investment that will make us consolidate the positive turnarounds from the effects of the drought.”
During the week-long Annual Meetings, the delegation will participate in a series of IMF and World Bank organised events, hold bilateral talks with other development partners, and engage investors. Among the IMF scheduled events, the Minister and his delegation will attend the 2024 African Consultative Group Meeting of the African Caucus with the IMF Managing Director, Kristalina Geogieva, and as representatives of an IMF member country, ensure that Zambia is represented during the session of the International Monetary and Finance Committee (the highest organ of the IMF).
The delegation will also hold discussions with the IMF African Department, Fiscal Affairs Department, the IMF Africa Group 1 Constituency and conduct consultative sessions with the IMF Mission Chief for Zambia, Mercedes Martin and her staff team on various aspects of cooperation between the IMF and Zambia.
The delegation will, among other engagements, participate in the African Consultative Group Meeting with World Bank Group President Ajay Banga, hold separate consultative meetings with the World Bank Vice President for Eastern and Southern Africa Victoria Kwakwa, and attend events of the African Group I Constituency and the Multilateral Investment Guarantee Agency (MIGA) of the World Bank, among others.
Other key engagements the delegation will also hold bilateral meetings with various development partners, and conduct and attend investor seminars.
Dr Musokotwane is accompanied by Secretary to the Treasury Felix Nkulunkusa, Bank of Zambia Governor Denny Kalyalya, and Zambia Revenue Authority Commissioner General Dingani Banda.
Zambia is also being represented at the Global Parliamentary Forum being held on the sidelines of the Annual Meetings by Mkushi North Constituency and Member of the Parliamentary Committee on Government Assurances Christopher Chibuye, Mwandi Constituency and Parliamentary Vice Chair of National Economy, Trade and Labour Matters Sibeso Kambafwile and Luena Constituency and member of the Parliamentary Committee on Parastatal Bodies Mubita Anakoka.
