The Fight Inequality Alliance (FIA) Zambia has described the exit of the International Monetary Fund (IMF) from the country’s economic programme as the best development for Zambia’s future.
In a statement, Monday, FIA National Coordinator Mputa Ngalande stated that the decision by the Ministry of Finance not to seek an extension of the IMF’s Extended Credit Facility aligns with the Alliance’s long-standing position.
Ngalande observed that the IMF-supported programme had imposed harsh conditions that negatively impacted ordinary citizens, particularly during periods of economic hardship.
He cited the IMF’s directive to continue electricity exports during peak load-shedding as an example of policies that prioritised revenue over the welfare of Zambians, even amid drought conditions.
Ngalande argued that such measures contributed to rising food prices and widespread hardship, with many citizens unable to afford three meals a day.
He stressed that Zambia must now seize the opportunity to pursue home-grown policies that prioritise the needs of its people over the interests of multinational institutions.
Ngalande pointed to the recent increase in copper prices as a chance to implement progressive taxation measures, such as windfall taxes on mineral exports, to generate domestic revenue for public services.
He urged government leaders to act in the interest of Zambians by resisting external pressures that have historically undermined national development.
Ngalande called for a shift toward policies that promote economic justice, protect local industries, and ensure that the country’s resources benefit its citizens first.