Zambia secures support from Italy to reach IMF deal

08 Jul 2022

President of Italy, Sergio Mattarella has reiterated the country’s pledge to support Zambia in securing an agreement with the International Monetary Fund (IMF) on its debt restructuring programme.

During an official three-day state visit, Mattarella told President Hichilema that Italy was willing to help Zambia on the path to economic recovery, in a bid to bolster bilateral ties between the two countries.

“Italy stands ready to help Zambia in many sectors of the economy such as mining, agriculture, health and education among others. Zambia is a beacon of peace and a promoter of democratic tenets,” Mattarella commented.

He added that Italy is committed to boosting links with Zambia by establishing businesses and infrastructure development throughout the country, Lusaka Times reports.

In addition, President Hakainde Hichilema praised Italy for its contributions to Zambia in various economic sectors, stating that the relationship between both nations spans several years.

The President also asked Italy for support in acquiring the IMF bailout funding: “Indeed Zambia is grateful for Italy’s contributions and support in all the sectors of the economy especially in energy, education, agriculture among others,” he said.

Hichilema continued that Zambia is rich in mineral resources which requires value addition, and an area that Italy can help with in an attempt to transform the nation.

He went on to assure Italy of Zambia’s upholding of democracy, peace and stability to promote social and economic development, and lauded Mattarella for his visit to Zambia, as the move will foster a greater mutual understanding between both countries.