Following a three-day visit to Zambia, Amero Selassie, the International Monetary Fund’s African department director, noted that Zambian officials had reiterated their intention of restoring budget credibility, increasing debt transparency, strengthening public financial management and improving governance. Selassie added that the IMF is “looking forward towards the presentation of the government’s home-grown economic strategy and will be assessing in the coming weeks how the IMF could support the authorities’ reform efforts through a possible fund program”.
On the base metals front, copper prices have come under pressure this morning in Asia driven by a broadly stronger USD and concerns over the US stimulus package. The US House of Representatives yesterday approved a 1-week extension of the funding for the federal government to give more time for discussions.
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