By Chibamba Kanyama
The IMF Director of African Department Abebe Aemro Selassie has indicated the application by Zambia for funding will be assessed soon. This statement has been widely followed globally given Zambia’s debt situation and its recent default on a due payment to Eurobond holders.
I personally know Abebe and consider him to be a down to earth and ethical Ethiopian national who is currently heading a top position at the Fund. As Head of the Department, his recommendations on Zambia will certainly carry a lot of weight within the IMF ranks.
However, his assurance to assess the request is no guarantee of a favourable outcome. There are a lot of layers within the governance system of the IMF that are involved in programme approvals. Key departments within the Fund will make their own assessments according to set evaluation benchmarks.