International Monetary Fund Deputy Director For Research JONATHAN OSTRY has said the current lean times of the global economy are offering an opportunity to developing economies to test the robustness of their policies.
He was speaking in Livingstone, on Friday last week during the IMF organized high-level conference on managing capital flows in developing economies.
And minister of finance MR. FELIX MUTATI reiterated that home-grown economic stabilization and growth programme have been developed which will be implemented in partnership with the IMF and other development partners.
The Minister said repeated legislative reviews are underway to enforce fiscal discipline and establish a fiscal policy environment that is consonant and supportive of monetary policy.
Zambia is pushing for up to 1 point 6 Million United States Dollars financial aid package from the International Monetary Fund to finance the local economy.
Mr. MUTATI also stated that “hosting the conference in Zambia is a great opportunity to exchange experiences among developing economies with regard to raising and dealing with capital flows”.