Zambian president Hakainde Hichelima has stated that the southern African country takes full responsibility for the economic downgrades that it has suffered in recent years.
Hichelima, who came to power in 2021 defeating incumbent Edgar Lungu stated that economic mismanagement was at the heart of the downgrades.
“As #Zambia, we are responsible for the downgrade of our economy, we didn’t manage our affairs properly so we must accept that,” he said during a press briefing with visiting US Vice President Kamala Harris (March 31, 2023).
Amid the economic challenges he inherited, Zambia secured an International Monetary Fund deal to help restore the battered econmy.
The IMF Board, in 2022, approved SDR 978.2 million (about US$1.3 billion) 38-month Extended Credit Facility arrangement for Zambia to help restore macroeconomic stability and foster higher, more resilient, and more inclusive growth.
The visiting US Vice President expressed Washington’s support for Zambia’s economic recovery during the visit which is the third and final leg of her three-nation Africa tour.
Source: Ghana web