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LUSAKA, July 19 (Reuters) – Zambia will share with the International Monetary Fund (IMF) to get the lender's feedback on their appropriateness for macroeconomic sustainability , its minister of finance said on Thursday.
In February the fund rejected Zambia's borrowing plans, saying they risked making it harder for the southern African country to sustain its debt load. An IMF team is expected in Zambia next week.
"We wish to state that we are doing this, we will have a firm position with the IMF," Finance Minister Margaret Mwanakatwe said in a statement.
Mwanakatwe said the nation's reserve position as of June 2018 was $ 1.38 billion and was $ 9.37 billion.
Zambia's central bank said in May the nation is in a debt of $ 139.2 million in the first quarter of 2018 through a drawdown on international reserves.
The GDP growth target of above 4 percent in 2018 for Africa's second-largest producer is expected to grow between 4 percent and 5 percent, Mwanakatwe said. (Reporting by Chris Mfula Editing by Ed Stoddard)
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