The International Monetary Fund says that headway had been made in three weeks of talks over a programme for Zambia and discussions would continue, though a number of challenges remained.
“Significant progress has been made and discussions are expected to continue in the next few weeks, following additional technical work on the appropriate policy package,” the IMF said in a statement.
The IMF said work towards implementing fiscal reforms to correct large fiscal imbalances, ramping up revenues and improving governance was still needed, however.
In a separate statement on Thursday, Finance Minister Dr Bwalya Ng’andu said government was committed to securing an IMF programme.
“We value the work we have embarked on with the IMF and will pursue our discussions on detailed policy measures to return our economy and public finances to a sustainable trajectory,” he said.