The International Monetary Fund (IMF) has handed over, Wednesday, 28th December, 2022, the Zambia Diagnostic Report on Governance and Corruption to President HAKAINDE HICHILEMA.
The Report was delivered to the President by IMF Resident Representative Ms. PREYA SHARMA, on behalf of the IMF Mission Chief for the assignment, Ms. TINA BURJALIANI. The Governance Diagnostic Report was prepared following a request made to the IMF by President Hichilema in November, 2021.
The Governance Diagnostic Report is intended to support continued reform and progress in establishing effective governance arrangements and the rule of law. The Zambia diagnostic assessment focused on identifying governance weaknesses and corruption vulnerabilities in critical priority areas of:
(i) Anti-corruption and anti-money laundering;
(ii) Fiscal governance;
(iii) Enforcement of contracts and protection of property rights;
(iv) Central bank governance and operations; and
(v) Financial sector oversight.
Speaking during VIRTUAL handover, President HICHILEMA re-reiterated his administration’s continued commitment to the fight against corruption, including the independence of governance and law enforcement agencies, separation of powers, and other vital measures such as enhancing access to information.
The President emphasised that the fight against corruption was a key cornerstone of his administration’s economic transformation programme. He took the opportunity to highlight other on-going legal reforms and measures such as:
1) Strengthening legislation related to anti-money laundering and funding of terrorism legislation such as the Securities and Exchange Act;
2) The Public Debt Management Act to enhance transparency in debt management and enhance Parliamentary oversight in debt contraction;
3) A new Bank of Zambia Act to enhance its operational autonomy; and
4) Review and amendment of laws such as the Penal Code to remove archaic provisions such as criminal defamation of the President.
Speaking at the same event, the Minister of Finance and National Planning Dr. SITUMBEKO MUSOKOTWANE, MP, joined the President in re-affirming the commitment of the Government to the fight against corruption and thanked the IMF for working tirelessly to produce the report.