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Country analysis > Zambia Last update: 2020-11-27  

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4. Conclusion

In concluding this important paper presentation, civil society would like to reiterate and emphasise the following points:

Firstly, Government needs to design sound and appropriate economic policies that are geared to promote local and foreign investments and thus stimulate economic growth. The budgetary process should prioritise and sequence its programmes and targets in order to derive optimal benefits from both domestic and external financing. It should also be streamlined to incorporate all stakeholders in its formulation, preparation and ultimate implementation.

Secondly, the donors and other cooperating partners must move towards full debt cancellation that is contingent upon a clear-cut national development plan focussed on poverty reducing strategies. Current debt relief measures are inadequate and hence need to be reviewed in order to make them responsive to the dire economic and social needs in the nation. Past pledges by donors must be fulfilled while pledges to be made at this CG meeting must be delivered in good time to allow the government implement its development programmes without seeking recourse to financing measures that lead to economic overheating reflected in high interest rates, volatile exchange rates and galloping inflation rates.

Thirdly and more importantly, if Zambia and other African countries are to benefit from NEPAD and other economic initiatives, then there is need for the developed countries to open up their markets through removal of tariff and non-tariff barriers. Agricultural subsidies in the European and American markets must, as a matter of urgency, be curbed and removed in order to stimulate African exports.

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