Chikwanda describes just ended Spring meetings as fruitful

Finance Minister Alexander Chikwanda has described Zambia’s participation at the just ended Spring meeting of the International Monetary Fund (IMF) and World Bank as fruitful.

Mr. Chikwanda said the Bretton Woods Institutions (IMF and World Bank) and the rest of the international community were very optimistic about the positive strides that Zambia was making in policy adjustment, programme implementation and infrastructure development in the transport, energy and agricultural sectors.

He said there were several questions which the Zambian delegation was asked concerning the economic development of the country which he said “we answered them all”.

“Going forward, we should now take advantage of the strengthened confidence in Zambia’s investment climate and economic management by ensuring that development sector ministries improve their project planning, feasibility studies and commitment to effective implementation,” he explained.

Mr. Chikwanda said this in a brief from London, ahead of some scheduled meetings with development partners there.

And Mr. Chikwanda has said government was contemplating infrastructure support to the Lusaka Water and Sewerage Company to enable the water utility firm to tap excess portable water which is purified by the Nitrogen Chemicals of Zambia (NCZ).

He said this will improve water supply in Kafue and surrounding areas.

NCZ has the potential to produce in excess of 20, 000 cubic metres of portable water in a day when operating at full capacity.

Currently, the Lusaka Water and Sewerage Company needs about 8, 400 cubic metres of water per day to supply the water stressed Kafue Estates although demand is expected to increase as the water distribution network extends to newly constructed areas.

Mr. Chikwanda last week led a Zambian delegation to the IMF and World Banda Spring meetings in Washington DC in the United States of America.

His delegation comprised Secretary to the Treasury, Fredson Yamba, Permanent Secretary in the Ministry of Finance, Felix Nkulukusa, Bank of Zambia Governor Michael Gondwe and other Ministry of Finance and Bank of Zambia officials.