## 4. A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists ## Source details **Canonical URL:** [4. A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists](https://www.imf.org/-/media/files/publications/cr/2019/1zmbea2019001.pdf) ## Other formats - [Markdown version](/-/media/files/publications/cr/2019/1zmbea2019001.pdf.md) - [Structured JSON version](/-/media/files/publications/cr/2019/1zmbea2019001.pdf.json) --- ### Bridge table and GFS compilation - A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists and is being used to compile GFS. - CoA structure has detailed information for producing analytical information and comprehensive GFS statements. - Mission actions: - Reviewed and amended the bridge table because there were few accounts not correctly classified, and new accounts were recorded in the IFMIS. - Left a revised version of the bridge tables (presented in Section III). CSO should further investigate recording processes within the Accountant General (AG) of MOF. ### Revisions, series produced, and institutional coverage used in compilations - Mission assisted in revising the multi-period GFS compilation file for BCG for fiscal years 2011–2016 and produced revised series that: - (i) had a more consistent and coherent classification method for revenue and expenditure in the five years, and - (ii) incorporated financial assets (GRZ deposits) and liabilities (GRZ debt stocks) with respective flows (disbursements and repayments). - Expected uses of the new series: - Improve the AFR’s surveillance, and - Be used for the IMF’s annual Government Finance Statistics Yearbook (GFSY) questionnaire. - Additional compilations: - Reviewed expenditure using COFOG series for FY 2011–2016. - Compiled an Integrated Financial Balance Sheet for BCG for the same period. - Assisted with compilation of GFS for General Government (GG) for FY 2015, which included: - (i) BCG, - (ii) Seven (7) extrabudgetary units, - (iii) one (1) SSF, and - (iv) the largest council of LG. ### Priority recommendations and targeted actions (selected) - Immediate - Review GFS series for the BCG (FY 2011–2016) and submit to the IMF including Financial Balance Sheet. — Responsible: CSO and MOF - Investigate inconsistencies identified within the Financial Reports regarding revenue, expenditure, asset and liability data and implement reconciliation procedures. — Responsible: CSO and MOF - Collect data, on a regular basis for extrabudgetary entities, social security funds, local government, and state-owned enterprises. — Responsible: CSO - June 2018 - Establish the Coordinating Committee by undersigning MoU and convene regular meetings. — Responsible: Coordinating Committee - Discuss and approve the inventory of public sector institutions units and their sector classification with members of the Coordinating Committee. — Responsible: Coordinating Committee - Additional timeline recommendations (selected) - December 2018: Submit Strategy of National Development of Statistic for approval. — Responsible: CSO - December 2018: Submit Statistics Act for approval. — Responsible: CSO - June 2018: Seek Public Finance Act approval. — Responsible: MOF - March 2019: Develop a Zambia’s GFS Manual. — Responsible: CSO - December 2018: Develop an annual publication to report Zambia's financial statistics. — Responsible: CSO - At the end of each quarter: Present quarterly Summary Report on progress with GFS implementation. — Responsible: CSO ### Mission objectives, scope, and timeline - Mission: Government Finance Statistics (GFS) Technical Assistance (TA) mission visited Lusaka, Zambia, during November 27–December 8, 2017. - Follow-up to an earlier GFS TA mission during March 29–April 8, 2016. - Activity undertaken within the five-year GFS Module of the DFID-funded Enhanced Data Dissemination Initiative 2 (EDDI 2) project. - Main purposes: - Assist CSO to improve fiscal statistics compilation methods and dissemination in accordance with GFSM 2014 and Public‑Sector Debt Statistics: Guide for Compilers and Users. - Make recommendations on a migration plan for implementation of GFSM 2014 for annual and high-frequency fiscal data to support surveillance. - Major tasks included review of recording of revenue, expense, transactions, and other economic flows in assets and liabilities; improving monthly series accuracy; expanding institutional coverage from BCG to GG; reviewing COFOG and annual reporting; compiling annual and sub-annual GG GFS for latest three years; assessing consistency with monetary statistics; assessing public sector debt statistics availability and methods; and assessing migration plan progress for GFSM 2014 implementation. ### Coordination, institutional coverage, and classification issues - CSO is the public entity responsible for compilation of GFS; organized into 4 divisions and GFS compiled under the Public Finance unit of the Economic and Finance division. - Coordinating Committee recommended in previous TA mission was not yet established; mission reiterated need for CSO to lead data sharing and establishment of Committee. - Mission recommended inclusion in the Committee of the Office of the Auditor General (OAG) and the Asset Management Division (AMD) of MOF. - Institutional coverage facts: - GRZ comprises 21 government ministries, 5 sovereign institutions, and other boards, agencies, statutory and regulatory bodies. - Local government (LG) comprises 10 provinces with a total of 109 councils. - Four social security funds (SSF) identified. - Total of 45 nonfinancial public corporations and seven financial public corporations including the Bank of Zambia. - Five (5) largest councils are: (i) Lusaka, (ii) Livingstone, (iii) Ndola, (iv) Kit-we and (v) Chipata, which account for 60 percent of LG, of which, Lusaka alone accounts for approximately 40 percent. - Councils may receive three types of transfers from Central Government: (i) Constituency Development Fund (Capital expense); (ii) Equalization Fund – given to support operations with a condition that 20 percent of the funds be used as capital expenditure; and (iii) Grants. - Councils are not allowed to borrow externally, only internally; Ministry of Local Government (MLG) must authorize and act as guarantor. - Lists and classification work: - List of BCG entities obtained from IFMS. - No comprehensive list of extrabudgetary units was available; mission and CSO compiled a preliminary list from legislation, MOF financial reports (2010–2016), the Yellow Book, public entity websites, and OAG reports (2010–2015). - Mission identified four SSF controlled by central government and LG that appear classified as parastatal units and as grant aided institutions. - SOE are controlled by Industrial Development Corporation (IDC) with 29 public corporations in its portfolio; other public corporations remain under Investments and Debt Management Department (IDM) of MOF. - Mission found an advanced “classification exercise for public units” following GFSM 2014 guidelines with potential for correct classification by CSO. - Targeted follow-up recommendations and dates: - June 2018: Refine the preliminary list of extrabudgetary units. — Responsible: CSO - June 2018: Finalize the institutional classification of public sector units by considering (i) residency, (ii) type of institutional unit, (iii) government control and (iv) main activity (market or non-market producer). — Responsible: CSO - June 2018: Review list of SOE and autonomous funds under the control of LG, especially Water and Sewerage Companies. — Responsible: CSO - September 2018: Discuss and agree on the structure of the public sector in Zambia with proposed members of the Coordinating Committee; classification of public corporations to be discussed and agreed by all providers of macroeconomic statistics. — Responsible: Coordinating Committee - Ongoing: Ensure GFS coverage is consistent with national accounts, external sector statistics, and monetary and financial statistics. — Responsible: Coordinating Committee ### Accounting rules, systems, and technical issues - Systems in use: - FMIS (old system) and IFMIS (new system) support budget execution. IFMIS implementation is around 90 percent, meaning it is not reflecting automatically data of five (5) BCG entities: - (i) Electoral Commission; - (ii) Zambia Security Intelligence Services-Office of the President; - (iii) Anti-Corruption Commission; - (iv) National Assembly; and - (iv) Office of the President-State House. - Approved budget is uploaded into the systems and GRZ executes the budget and maintains accounts on cash basis in FMIS and IFMIS. - Debt management systems: - Two main systems: (i) Debt Management and Financial Analysis System - DMFAS, and (ii) Central Securities Repository for Treasury Bills and Government Bonds. - These systems are not interfaced with each other or with IFMIS. - Within DMFAS, MOF reports only external debt; although DMFAS can manage domestic debt, it is not used for that purpose. - Debt instruments are reported at face value and interest expense on cash basis. - CoA and classification specifics: - For compiling GFS, CSO must combine codes (subhead, item, subitem and subsubitem codes from IFMIS) to correctly classify data. - Detailed review of the bridge table (GFS vs. CoA coding system) was done in line with GFSM 2014 guidelines. - Accrued expenses are treated as normal expenses. - Interest is accounted in GFS code “24” along with financial commissions and other financial charges. - Zambia CoA account code “240000” should be revised to guarantee that only interest and not loan principal repayments are registered. - GFS accounts with code “28” should be revised as they include compensation of constitutional staff. - IPSAS implementation plans: - Authorities are considering implementing International Public-Sector Accounting Standards (IPSAS). - MOF is contracting consulting companies and the road map is due to be ready in March 2018. - MOF intends to have IPSAS implemented by 2021. - Local government accounting: - Councils record financial transactions under accrual basis while BCG uses cash basis. - Councils use their own CoA different from BCG’s CoA and have their own accounting system. - AG indicated a pilot exercise to implement IFMIS in five councils. - MLG is exploring other systems because IFMIS might not address all their needs. ### Reporting and classification issues (selected) - Some public institutions, including some of the SSF, report financial data on a year end March 31st basis, different from BCG and majority of public sector which reports on a calendar based year ending 31st of December. - There is no consistency in the descriptions of revenue items from one year to another. - Revenue and expenditure recording is not pure cash: it includes arrears, pre-payments and other advances. - Grants and loans data from IFMIS regarding “budget support grants”, “Project support grants” and loans (in-cash and in-kind) from foreign and international donors is confusing and does not total what is reported in GRZ financial reports. - Receipts on taxation in GRZ Financial Reports do not total the detailed items provided and do not match IFMIS data; reconciliation between IFMIS/FMIS and GRZ Financial Reports should be standard practice. - COFOG: CSO constructs a four to five-character functional classification code using IFMIS division/head/department codes; MOF developments on IFMIS allow automatic COFOG calculation but it requires revision and CSO support. - No official data available reporting stock positions of nonfinancial assets; attempts to engage Asset Management Division of MOF were unsuccessful. - Financial assets (Deposits) collected from annual financial reports and BOZ high frequency reports do not reconcile with GRZ’s financial reports. - Debt data (domestic/external, by instrument) published in GRZ Annual Financial Reports (Statement E) show inconsistencies; mission collected debt data 2010–2016 but FY 2011 adjusted for Kwacha revaluation; public corporation debt data did not match GRZ Financial Reports presentation. - Eurobond issuances: IDM stated three issuances in 2012, 2014 and 2015 though financial reports only present data regarding 2012 and 2013 with no disclosure on whether it refers to three issuances; Eurobond data not recorded by investor residency. - Inconsistencies identified regarding opening and closing stock of liabilities; limited disclosure prevents understanding of changes in stock positions other than transactions. - Data for the rest of the public sector collected from financial reports of public entities and OAG; mission collected financial statements of 22 public entities. - Local Government: new Local Government Act requires Councils to produce financial statements and be audited by OAG; few councils report financial statements; preliminary FY 2016 Lusaka City Council statement obtained. ### Source data flows and access; templates - Revenue and expenditure data are manually collected from MOF-managed IFMIS, submitted by email whenever CSO requests; CSO receives annual data from AG and quarterly data from Budget Office, but quarterly data are preliminary and do not match annual accounting data. - Mission created templates for collecting financial data from public entities other than BCG for GFS compilation. - Immediate recommendation: GFS compilers should get access to IFMIS and FMIS (CSO to send AG a letter requesting access and indicate profile needed). — Target Date: March 2018 — Responsible: CSO ### Recommendations and target dates (selected) - March 2019: Incorporate GFS coding system into the IFMIS. — Responsible: MOF and CSO - June 2018: Final reviews of the automated process of calculating COFOG in the IFMIS currently being done by the AG, should get analytical support from CSO. — Responsible: MOF and CSO - Ongoing: Use the revised CoA from now on to assist in the compilation of GFS. — Responsible: CSO - December 2020: Public entities should address issues regarding harmonization of the basis of recording, CoA system and the fiscal year. — Responsible: Coordinating Committee - Immediate and ongoing: Revenue and expenditure data presented in the GRZ Financial Reports versus administrative data extracted from the IFMIS should be reconciled and the reconciliation of various sources data to derive statistics should be standard practice. — Responsible: Coordinating Committee - Immediate and ongoing: Reconciliation process of deposits data should be a priority and established as routine. — Responsible: MOF and BOZ - Immediate: Validate templates left by the mission to collect data from public entities other than BCG and start immediately distribution. — Responsible: CSO - Immediate and ongoing: Expand coverage of debt compilation and reporting beyond the central government and start compiling and reporting publicly guaranteed debt. — Responsible: CSO and IDM - December 2018: Study the possibility to start reporting market and nominal value of debt instruments. — Responsible: IDM ### GFS compilation methods and system issues - Compilation is done in Excel with mapping of revenue and expenditure to produce GFS statements and tables; CSO has bridged tables and methodology to convert national accounting system data to GFS format using “VLOOKUP” and “if” (VBA) functions to aid classification. - IFMIS is automatically producing COFOG but adjustments according to GFSM 2014 are needed. - Data quality is the main problem affecting compilation and timely dissemination. - e-GGDS is compiled and submitted to the IMF by MOF, but MOF did not send anything since June 2017 due to staff needing re-training on upload; CSO has started compiling quarterly GFS to submit to the IMF. - MOF compiles and disseminates quarterly debt data to AFR; CSO staff lacks view on accuracy. Mission recommended CSO compile and upload to World Bank QPSDS. Guiding process provided to CSO staff. - Coordination between institutions is insufficient—two institutions separately compiling without interaction does not guarantee consistency. ### Key findings from compiled GFS and work-in-progress tables (selected aggregates and exact figures) - From Statements of Sources and Uses of Cash, GRZ shows steady increase of cash receipts from operating activity and performance expenses; steady increase in cash deficit since 2013 driven by investment in nonfinancial assets. - Main sources of revenue (average shares): Income Tax average of 46 percent of total annual revenue; value Added Tax average 23 percent; customs and Excise revenues average 13 percent. Grants: 17 percent of total revenue in 2011, decreased to less than 1 percent in 2016. - Expense: elimination of subsidies by end of FY 2013; increased accumulation of expenditure arrears in recent years. - Capital expenditure supports infrastructure financed by disbursement of foreign loans. Key figures — GRZ Statement of Sources and Uses of Cash (Table 2) - Revenue: - 2011: 24 028 690 990,3 - 2012: 24 127 735 020,4 - 2013: 26 807 585 570,0 - 2014: 31 297 654 856,5 - 2015: 33 577 159 409,0 - 2016: 39 513 634 177,3 - Expense: - 2011: 16 286 878 250,6 - 2012: 21 384 589 887,3 - 2013: 27 040 395 505,0 - 2014: 33 838 783 137,3 - 2015: 42 626 551 542,1 - 2016: 48 424 916 147,0 - Net cash inflow from operating activities: - 2011: 7 741 812 739,7 - 2012: 2 743 145 133,1 - 2013: -232 809 935,0 - 2014: -2 541 128 280,8 - 2015: -9 049 392 133,1 - 2016: -8 911 281 969,6 - Purchases of nonfinancial assets: - 2011: 5 215 433 324,6 - 2012: 418 814 485,1 - 2013: 4 577 537 834,7 - 2014: 5 513 288 787,2 - 2015: 6 240 388 371,5 - 2016: 3 308 979 283,0 - Cash surplus (+) / Cash deficit (-): - 2011: 2 526 936 307,5 - 2012: 2 329 576 642,1 - 2013: -4 808 304 429,7 - 2014: -8 053 220 429,0 - 2015: -14 716 493 735,6 - 2016: -12 212 397 797,7 - Cash surplus (+) / Cash deficit (-) as percent of GDP: - 2011: 2,21 percent - 2012: 1,81 percent - 2013: -3,32 percent - 2014: -4,92 percent - 2015: -7,91 percent - 2016: -6,06 percent - Net incurrence of liabilities: - 2011: 3 170 496 730,9 - 2012: 11 502 738 726,9 - 2013: 5 619 450 681,8 - 2014: 11 043 023 014,4 - 2015: 21 571 596 937,6 - 2016: 10 276 611 336,8 - Net cash inflow from financing activities: - 2011: 2 987 390 333,6 - 2012: 11 400 767 934,9 - 2013: 5 438 382 722,7 - 2014: 11 028 793 523,2 - 2015: 21 935 103 390,3 - 2016: 10 897 791 073,2 - Net change in the stock of cash (table entries): - 2011: 5 514 326 641,12 - 2012: 13 730 344 577,05 - 2013: 630 078 292,95 - 2014: 2 975 573 094,18 - 2015: 7 218 609 654,69 - 2016: - 1 314 606 724,44 - Memorandum Items: GDP - 2011: 114 126 409 400,0 - 2012: 128 370 000 000,0 - 2013: 144 775 000 000,0 - 2014: 163 736 000 000,0 - 2015: 186 015 000 000,0 - 2016: 201 576 394 371,4 Key figures — GRZ Outlays by Functions of Government – COFOG (selected) - TOTAL OUTLAYS: - 2011: 22 800 375 229.0 - 2012: 26 178 540 813.5 - 2013: 31 853 610 009.1 - 2014: 39 529 236 847.2 - 2015: 49 004 716 025.6 - 2016: 51 815 508 645.7 - General public services: - 2011: 7 245 368 175.1 - 2012: 11 747 206 384.4 - 2013: 16 022 731 336.4 - 2014: 16 565 298 176.6 - 2015: 22 643 278 896.6 - 2016: 27 069 623 953.7 - Education: - 2011: 4 151 214 117.3 - 2012: 4 523 103 975.2 - 2013: 5 303 710 408.9 - 2014: 8 103 526 500.9 - 2015: 8 253 369 004.2 - 2016: 8 854 963 717.7 - Health: - 2011: 1 978 402 646.6 - 2012: 2 371 460 016.7 - 2013: 1 848 554 194.5 - 2014: 2 508 484 218.3 - 2015: 2 603 913 964.2 - 2016: 4 128 644 945.9 Key figures — GRZ Integrated Financial Balance Sheet (selected) - Net Financial Worth at end-December 2016: - Closing balance 2015: - 73 254 897 034.23 - Transactions: - 10 834 637 187.61 - Other economic flows – Holding Gains and Losses: - 80 375.64 - Residual: 1 034 696 942.83 - Closing balance 2016: - 83 054 917 654.65 - Financial assets (total closing balance 2016): 17 285 636 716.32 - (table lists Closing balance 2015: 17 348 790 601.95; Transactions: - 558 025 850.83; Holding Gains and Losses: - 126 307 771.26; Residual: 494 871 965.20) - Liabilities (total closing balance 2016): 100 340 554 370.97 - (table lists Closing balance 2015: 90 603 687 636.18; Transactions: 10 276 611 336.78; other columns as shown) Work-in-progress GG (as of 31st December 2015) — selected aggregates - GG Statement of Sources and Uses of Cash (as of 31st December 2015): - Total Revenue: 34 685 325 849,0 - BCG: 33 577 159 409,0 - Local Government: 828 268 294,0 - Extra budgetary: 0,0 - Social Security Funds: 279 898 146,0 - Total Expense: 43 783 063 790,1 - BCG: 42 626 551 542,1 - Local Government: 959 000 515,0 - Extra budgetary: 25 722 213,0 - Social Security Funds: 171 789 520,0 - Cash surplus (+) / Cash deficit (-) Total: -14 764 839 543,6 - GG Integrated Financial Balance Sheet (as of 31st December 2015): - Net Worth (Total): -72 523 968 283.2 - BCG Net Worth: -73 254 897 034.2 - Local Government Net Worth: -42 698 328.0 - Social Security Funds Net Worth: 773 627 079.0 - Financial assets (Total): 18 351 857 987.0 - Currency and deposits (Total): 17 682 075 474.0 - Liabilities (Total): 93 038 186 389.2 - Loans (Total): 55 169 591 837.3 - Securities other than shares: 20 255 461 632.8 - Other accounts payable (Total): 17 735 510 102.1 ### Observations on reconciliation and residuals - Change in net financial worth between years reflects financial transactions, holding gains or losses, and a significant residual amount. - Holdings gains and losses in currency reported in IFMIS in 2014–2016 are not reflected in GRZ Financial Reports and could not be reconciled. - Net financial worth for BCG at end-December 2016: negative Kwacha 83.054,92 million (expressed as - 83 054 917 654.65 in Table 4). - Total residual in integrated balance sheet equal to Kwacha 1.034,69 million (Residual: 1 034 696 942.83) which is less than 1 percent of GDP. ### Data sources and exercise scope (fiscal year 2015 exercise) - Used BCG data for fiscal year 2015 and financial statements of seven extra-budgetary units: - (i) Copperbelt University - (ii) Zambia Institute of Policy Analysis and Research (ZIPAR) - (iii) Competition and Consumer Protection Commission - (iv) Energy Regulation Board - (v) Mulungushi University - (vi) Tobacco Board of Zambia - (vii) Zambia Revenue Authority - SSF data used: Pension and Insurance Authority. - LG used: Lusaka City Council. - No consolidation made; exercise considered aggregation of values only. ### GFS time series, debt data, and e-GDDS actions - GFS time series for FY2011–2016 completed during the mission needs to be verified and officially resubmitted to the AFR and STA. — Target Date: June 2018 — Responsible: CSO - Compile and disseminate the debt data to AFR and upload it on the World Bank website. — Target Date: June 2018 — Responsible: CSO - Compile and submit the Enhanced General Data Dissemination System (e-GDDS). — Target Date: Immediate and ongoing — Responsible: CSO - Review GFS high frequency data and compile it like annual process. — Target Date: Immediate and ongoing — Responsible: CSO ### Resources, capacity, and technical assistance (Public Finance unit, CSO) - Public Finance unit staffing: five staff (a head, two (2) statisticians, one (1) statistical officer and one (1) intern). - Compilation currently done by one statistician with support from the statistical officer. - Capacity constraints: - Team needs training on GFS framework and debt statistics. - CSO staff has not attended any GFS course in more than five years. - Work conditions are inadequate: personal computers and transport used by staff. - Public Finance Unit has not had an allocation of funds for some years. - Recommendations: - Attend available GFS and debt statistics courses. — Target Date: Ongoing — Responsible: CSO - IMF and training centers (MEFMI) should forward GFS course invitations to CSO. — Target Date: Ongoing — Responsible: IMF and its training centers - Improve work conditions and seek funds to support proper GFS compilation. — Target Date: Immediate — Responsible: CSO - Produce a CSO GFS manual for compilation and dissemination of GFS data. ### Action Plan for Implementing GFSM 2014 (five-year highlights) - Organization and methodology: - Establish Coordinating Committee. — Target Completion Date: June 2018. Implementation Status: MoU is being drafted. Priority: H - Attend GFS courses. — Target Completion Date: June 2018. Priority: H - Develop Zambia's GFS Manual. — Target Completion Date: March 2020. Priority: L - Publish Zambia’s Public-sector coverage GFS data. — Target Completion Date: December 2018. Priority: L - Institutional coverage and inventories: - Complete inventory of Public Sector institutional units. — Target Completion Date: March 2018. Implementation Status: Preliminary list created. Priority: H - Revise classification Public Sector units. — Target Completion Date: September 2018. Priority: H - BCG and related series: - Review GFS time series for the BCG (FY2011–2016) and submit to the IMF including Financial Balance Sheet. — Target Completion Date: January 2018. Priority: H - Review COFOG coming out of IFMIS and adjust to GFS compilation. — Target Completion Date: June 2018. Priority: H - Review government debt series FY2010-2016. — Target Completion Date: March 2018. Priority: H - CSO must get access into IFMIS and create profiles. — Target Completion Date: March 2018. Priority: L - Imbed GFS codes into IFMIS. — Target Completion Date: June 2019. Priority: L - Implement reconciliation procedure for revenue, expenses, assets and liabilities reported. — Target Completion Date: June 2018. Priority: H - Submit quarterly GFS for IFS including debt (2015Q1–2017Q3). — Target Completion Date: March 2018. Priority: H - Compilation of EBUs, SSF, and LG: - Collect financial statement data for public sector units other than BCG. — Target Completion Date: December 2018. Implementation Status: Mission developed templates; CSO must validate and distribute. Priority: H - Compile GG including Balance Sheet for 2013–2016. — Target Completion Date: December 2019. Implementation Status: Mission did a first exercise; CSO should extend coverage. Priority: L ### CoA mapping and revenue/expenditure coding (selected technical notes) - Revenue coding digit positions: - Digit position: 1, 2 Cash inflow type - Digit position: 3 Sub-inflow type - Digit position: 4, 5 Cash inflow account - Expenditure coding digit positions: - Digit position: 1, 2 Cash Outflow type - Digit position: 3 Sub-Outflow type - Digit position: 4, 5 Cash Outflow account - Mapping notes: - Funding from bilateral or multilateral partners are coded with a default bridge but should be evaluated case-by-case to determine current or capital grant or loan (see GFSM 2014 codes 131, 132 and 3224). - Grants and loans recorded as “budget support grants”, “Project support grants” and loans (in-cash and in-kind) need verification against GRZ financial reports. - Goods and services expenses accrued are coded 22 by default; need evaluation whether these accrued expenses correspond to Other Accounts Payable (3318). - Loans to institutions (3314) and Other investments (3315) should be evaluated case-by-case for capital grant elements (2632 or 2822). *Source: 1zmbea2019001 - IMF mission report extracts as provided in the content unit.* ### 4. A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists ### 1zmbea2019001 - 4. A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists ### Bridge table and GFS compilation - A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists and is being used to compile GFS. - CoA structure has detailed information for producing useful analytical information and the compilation of comprehensive GFS statements. - The mission reviewed and amended the bridge table because: - there were few accounts not correctly classified, and - new accounts were recorded in the IFMIS. - The mission left a revised version of the bridge tables presented in Section III; CSO should further investigate recording processes within the Accountant General (AG) of MOF. ### Revisions, series produced, and institutional coverage used in compilations - The mission assisted in revising the multi-period GFS compilation file for BCG for fiscal years 2011–2016 and produced revised series that: - (i) had a more consistent and coherent classification method for revenue and expenditure in the five years, and - (ii) incorporated financial assets (GRZ deposits) and liabilities (GRZ debt stocks) with respective flows (disbursements and repayments). - Expected uses of the new series: - Improve the AFR’s surveillance, and - Be used for the IMF’s annual Government Finance Statistics Yearbook (GFSY) questionnaire. - The mission reviewed expenditure using COFOG series for FY 2011–2016 and compiled an Integrated Financial Balance Sheet for BCG for the same period. - The mission assisted with compilation of GFS for General Government (GG) for FY 2015, which included: - (i) BCG, - (ii) Seven (7) extrabudgetary units, - (iii) one (1) SSF, and - (iv) the largest council of LG. ### Priority recommendations and targeted actions (from Table 1 and follow-up targets) - Immediate - Review GFS series for the BCG (FY 2011–2016) and submit to the IMF including Financial Balance Sheet. — Responsible: CSO and MOF - Investigate inconsistencies identified within the Financial Reports regarding revenue, expenditure, asset and liability data and implement reconciliation procedures. — Responsible: CSO and MOF - Collect data, on a regular basis for extrabudgetary entities, social security funds, local government, and state-owned enterprises. — Responsible: CSO - June 2018 - Establish the Coordinating Committee by undersigning MoU and convene regular meetings. — Responsible: Coordinating Committee - Discuss and approve the inventory of public sector institutions units and their sector classification with members of the Coordinating Committee. — Responsible: Coordinating Committee - Additional timeline recommendations (from Coverage, Source Data and GFS Compilation section) - June 2018: Establish the Coordination Committee by undersigning MoU of Coordinating Committee. — Responsible: Coordinating Committee - December 2018: Submit Strategy of National Development of Statistic for approval. — Responsible: CSO - December 2018: Submit Statistics Act for approval. — Responsible: CSO - June 2018: Seek Public Finance Act approval. — Responsible: MOF - March 2019: Develop a Zambia’s GFS Manual. — Responsible: CSO - December 2018: Develop an annual publication to report Zambia's financial statistics. — Responsible: CSO - At the end of each quarter: Present quarterly Summary Report on progress with GFS implementation. — Responsible: CSO ### Mission objectives, scope, and timeline - Mission: Government Finance Statistics (GFS) Technical Assistance (TA) mission visited Lusaka, Zambia, during November 27–December 8, 2017. - Follow-up to an earlier GFS TA mission during March 29–April 8, 2016. - Activity undertaken within the five-year GFS Module of the DFID-funded Enhanced Data Dissemination Initiative 2 (EDDI 2) project. - Main purposes: - Assist CSO to improve fiscal statistics compilation methods and dissemination in accordance with GFSM 2014 and Public‑Sector Debt Statistics: Guide for Compilers and Users. - Make recommendations on a migration plan for implementation of GFSM 2014 for annual and high-frequency fiscal data to support surveillance. - Major tasks included: - (i) Review recording of revenue, expense, transactions, and other economic flows in assets and liabilities, and financial balance sheets; - (ii) Improve accuracy and integrity of monthly series disseminated to AFR and STA; - (iii) Discuss constraints to expand institutional coverage of GFS from BCG to GG; - (iv) Review COFOG and assist on annual reporting; - (v) Attempt compilation of annual (and sub-annual) GG GFS for the latest three years; - (vi) Evaluate consistency of GFS and other macroeconomic data, particularly financing transactions vs. monetary statistics; - (vii) Assess availability, quality, and compilation methods of public sector debt statistics, focusing on SOE debt (guaranteed and not guaranteed by central government); - (viii) Assess progress with the migration plan for GFSM 2014 implementation. ### Coordination, institutional coverage, and classification issues - CSO is the public entity responsible for compilation of GFS; CSO is organized into 4 divisions and GFS is compiled under the Public Finance unit of the Economic and Finance division. - Coordinating Committee recommended in previous TA mission was not yet established; mission reiterated need for CSO to lead data sharing and establishment of Committee. - Mission recommended inclusion in the Committee of the Office of the Auditor General (OAG) and the Asset Management Division (AMD) of MOF. - Legislative progress: - Public Finance Act revised and submitted to Parliament but not yet approved; currently does not provide sufficient clarity on financial reporting standards or institutions required to be covered in GRZ financial reports. - CSO is revising the Statistics Act and preparing a Strategy of National Development of Statistics. - Institutional coverage facts: - GRZ comprises 21 government ministries, 5 sovereign institutions, and other boards, agencies, statutory and regulatory bodies. - Local government (LG) comprises 10 provinces with a total of 109 councils. - Four social security funds (SSF) identified. - Total of 45 nonfinancial public corporations and seven financial public corporations including the Bank of Zambia. - Five (5) largest councils are: (i) Lusaka, (ii) Livingstone, (iii) Ndola, (iv) Kit-we and (v) Chipata, which account for 60 percent of LG, of which, Lusaka alone accounts for approximately 40 percent. - Councils may receive three types of transfers from Central Government: (i) Constituency Development Fund (Capital expense); (ii) Equalization Fund – given to support operations with a condition that 20 percent of the funds be used as capital expenditure; and (iii) Grants. - Councils are not allowed to borrow externally, only internally; Ministry of Local Government (MLG) must authorize and act as guarantor. - Lists and classification work: - List of BCG entities obtained from IFMS. - No comprehensive list of extrabudgetary units was available; mission and CSO compiled a preliminary list from legislation, MOF financial reports (2010–2016), the Yellow Book, public entity websites, and OAG reports (2010–2015). - Mission identified four SSF controlled by central government and LG that appear classified as parastatal units and as grant aided institutions. - SOE are controlled by Industrial Development Corporation (IDC) with 29 public corporations in its portfolio; other public corporations remain under Investments and Debt Management Department (IDM) of MOF. - Mission found an advanced “classification exercise for public units” following GFSM 2014 guidelines with potential for correct classification by CSO. - Targeted follow-up recommendations and dates: - June 2018: Refine the preliminary list of extrabudgetary units. — Responsible: CSO - June 2018: Finalize the institutional classification of public sector units by considering (i) residency, (ii) type of institutional unit, (iii) government control and (iv) main activity (market or non-market producer). — Responsible: CSO - June 2018: Review list of SOE and autonomous funds under the control of LG, especially Water and Sewerage Companies. — Responsible: CSO - September 2018: Discuss and agree on the structure of the public sector in Zambia with proposed members of the Coordinating Committee; classification of public corporations to be discussed and agreed by all providers of macroeconomic statistics. — Responsible: Coordinating Committee - Ongoing: Ensure GFS coverage is consistent with national accounts, external sector statistics, and monetary and financial statistics. — Responsible: Coordinating Committee ### Accounting rules, systems, and technical issues - Systems in use: - FMIS (old system) and IFMIS (new system) support budget execution. IFMIS implementation is around 90 percent, meaning it is not reflecting automatically data of five (5) BCG entities: - (i) Electoral Commission; - (ii) Zambia Security Intelligence Services-Office of the President; - (iii) Anti-Corruption Commission; - (iv) National Assembly; and - (iv) Office of the President-State House. - Approved budget is uploaded into the systems and GRZ executes the budget and maintains accounts on cash basis in FMIS and IFMIS. - Debt management systems: - Two main systems: (i) Debt Management and Financial Analysis System - DMFAS, and (ii) Central Securities Repository for Treasury Bills and Government Bonds. - These systems are not interfaced with each other or with IFMIS. - Within DMFAS, MOF reports only external debt; although DMFAS can manage domestic debt, it is not used for that purpose. - Debt instruments are reported at face value and interest expense on cash basis. - CoA and classification specifics: - For compiling GFS, CSO must combine codes (subhead, item, subitem and subsubitem codes from IFMIS) to correctly classify data. - Detailed review of the bridge table (GFS vs. CoA coding system) was done in line with GFSM 2014 guidelines. - Accrued expenses are treated as normal expenses. - Interest is accounted in GFS code “24” along with financial commissions and other financial charges. - Zambia CoA account code “240000” should be revised to guarantee that only interest and not loan principal repayments are registered. - GFS accounts with code “28” should be revised as they include compensation of constitutional staff. - IPSAS implementation plans: - Authorities are considering implementing International Public-Sector Accounting Standards (IPSAS). - MOF is contracting consulting companies and the road map is due to be ready in March 2018. - MOF intends to have IPSAS implemented by 2021. - Local government accounting: - Councils record financial transactions under accrual basis while BCG uses cash basis. - Councils use their own CoA different from BCG’s CoA and have their own accounting system. - AG indicated a pilot exercise to implement IFMIS in five councils. - MLG is exploring other systems because IFMIS might not address all their needs. *Source: 1zmbea2019001 - 4. A bridge table from Zambia’s Chart of Account (CoA) to GFS classifications exists* ### 27. Some public institutions including some of the SSF, are reporting financial data on ### 27. Some public institutions including some of the SSF, are reporting financial data on ### Reporting and classification issues - Some public institutions, including some of the SSF, report financial data on a year end March 31st basis, differently from BCG and majority of public sector which reports on a calendar based year ending 31st of December. - There is no consistency in the descriptions of revenue items from one year to another, complicating correct classification (paragraph 29). - Revenue and expenditure recording is not pure cash: it includes arrears, pre-payments and other advances (paragraph 32). - Grants and loans data from IFMIS regarding “budget support grants”, “Project support grants” and loans (in-cash and in-kind) from foreign and international donors is confusing and does not total what is reported in GRZ financial reports (paragraph 30). - Receipts on taxation in GRZ Financial Reports do not total the detailed items provided and do not match IFMIS data; reconciliation between IFMIS/FMIS and GRZ Financial Reports should be standard practice (paragraph 31). - Recording process for expense accounts is inconsistent across years; some accounts discontinued, descriptions mismatched, accounts registering allowances also register administrative expenditure (paragraph 32). - COFOG: CSO constructs a four to five-character functional classification code using IFMIS division/head/department codes; MOF developments on IFMIS allow automatic COFOG calculation but it requires revision and CSO support (paragraph 33). - No official data available reporting stock positions of nonfinancial assets; attempts to engage Asset Management Division of MOF were unsuccessful (paragraph 34). - Financial assets (Deposits) collected from annual financial reports and BOZ high frequency reports do not reconcile with GRZ’s financial reports (paragraph 35). - Debt data (domestic/external, by instrument) published in GRZ Annual Financial Reports (Statement E) show inconsistencies; mission collected debt data 2010–2016 but FY 2011 adjusted for Kwacha revaluation; public corporation debt data did not match GRZ Financial Reports presentation (paragraph 36). - Eurobond issuances: IDM stated three issuances in 2012, 2014 and 2015 though financial reports only present data regarding 2012 and 2013 with no disclosure on whether it refers to three issuances; Eurobond data not recorded by investor residency (paragraph 37). - Inconsistencies identified regarding opening and closing stock of liabilities; limited disclosure prevents understanding of changes in stock positions other than transactions (paragraph 38). - Data for the rest of the public sector collected from financial reports of public entities and OAG; mission collected financial statements of 22 public entities (paragraph 39). - Local Government: new Local Government Act requires Councils to produce financial statements and be audited by OAG; few councils report financial statements; preliminary FY 2016 Lusaka City Council statement obtained (paragraph 40). ### Source data flows and access - Revenue and expenditure data are manually collected from MOF-managed IFMIS, submitted by email whenever CSO requests; CSO receives annual data from AG and quarterly data from Budget Office, but quarterly data are preliminary and do not match annual accounting data (paragraph 28). - Mission created templates for collecting financial data from public entities other than BCG for GFS compilation (paragraph 41). ### Recommendations and target dates (as listed) - March 2019: Incorporate GFS coding system into the IFMIS. — Responsible: MOF and CSO - June 2018: Final reviews of the automated process of calculating COFOG in the IFMIS currently being done by the AG, should get analytical support from CSO. — Responsible: MOF and CSO - Ongoing: Use the revised CoA from now on to assist in the compilation of GFS. — Responsible: CSO - December 2020: Public entities should address issues regarding harmonization of the basis of recording, CoA system and the fiscal year. — Responsible: Coordinating Committee - March 2018: GFS compilers should get access to the IFMIS and FMIS systems: it should send AG a letter requesting the access and indicate the type of profile needed. — Responsible: CSO - March 2018: Seek clarification from MOF on the recording of financing transactions (disbursement, amortization, interest and other financing costs) and liabilities stock positions. — Responsible: CSO - March 2018: Investigate further the recording process of revenues particularly regarding the recording of “budget” and “Project support grants” and loans (in-cash and in-kind) from foreign and international donors and expenses. — Responsible: CSO and AG - Immediate and ongoing: Revenue and expenditure data presented in the GRZ Financial Reports versus administrative data extracted from the IFMIS should be reconciled and the reconciliation of various sources data to derive statistics should be standard practice. — Responsible: Coordinating Committee - Immediate and ongoing: Reconciliation process of deposits data should be a priority and established as routine. — Responsible: MOF and BOZ - Immediate: Validate templates left by the mission to collect data from public entities other than BCG and start immediately distribution. — Responsible: CSO - Ongoing: Keep on collecting financial statements data of public entities other than the BCG entities, including those of public corporations (state owned enterprises). — Responsible: CSO - Immediate and ongoing: Expand coverage of debt compilation and reporting beyond the central government and start compiling and reporting publicly guaranteed debt. — Responsible: CSO and IDM - December 2018: Study the possibility to start reporting market and nominal value of debt instruments. — Responsible: IDM ### GFS compilation methods and system issues - Compilation is done in Excel with mapping of revenue and expenditure to produce GFS statements and tables; CSO has bridged tables and methodology to convert national accounting system data to GFS format using “VLOOKUP” and “if” (VBA) functions to aid classification (paragraph 42–43). - IFMIS is automatically producing COFOG but adjustments according to GFSM 2014 are needed (paragraph 43). - Data quality is the main problem affecting compilation and timely dissemination (paragraph 43, 51). - e-GGDS is compiled and submitted to the IMF by MOF, but MOF did not send anything since June 2017 due to staff needing re-training on upload; CSO has started compiling quarterly GFS to submit to the IMF (paragraph 51). - MOF compiles and disseminates quarterly debt data to AFR; CSO staff lacks view on accuracy. Mission recommended CSO compile and upload to World Bank QPSDS. Guiding process provided to CSO staff (paragraph 52). - Coordination between institutions is insufficient—two institutions separately compiling without interaction does not guarantee consistency (paragraph 53). ### Key findings from compiled GFS and work-in-progress tables - From Statements of Sources and Uses of Cash, GRZ shows steady increase of cash receipts from operating activity and performance expenses; steady increase in cash deficit since 2013 driven by investment in nonfinancial assets (paragraph 44). - Main sources of revenue (average shares): Income Tax average of 46 percent of total annual revenue; value Added Tax average 23 percent; customs and Excise revenues average 13 percent. Grants: 17 percent of total revenue in 2011, decreased to less than 1 percent in 2016 (paragraph 45). - Expense: elimination of subsidies by end of FY 2013; increased accumulation of expenditure arrears in recent years (paragraph 46). - Capital expenditure supports infrastructure (roads, Copperbelt and Lusaka investments, economic zone and hospitals) financed by disbursement of foreign loans (paragraph 46). Key figures — GRZ Statement of Sources and Uses of Cash (Table 2) - Revenue: - 2011: 24 028 690 990,3 - 2012: 24 127 735 020,4 - 2013: 26 807 585 570,0 - 2014: 31 297 654 856,5 - 2015: 33 577 159 409,0 - 2016: 39 513 634 177,3 - Expense: - 2011: 16 286 878 250,6 - 2012: 21 384 589 887,3 - 2013: 27 040 395 505,0 - 2014: 33 838 783 137,3 - 2015: 42 626 551 542,1 - 2016: 48 424 916 147,0 - Net cash inflow from operating activities: - 2011: 7 741 812 739,7 - 2012: 2 743 145 133,1 - 2013: -232 809 935,0 - 2014: -2 541 128 280,8 - 2015: -9 049 392 133,1 - 2016: -8 911 281 969,6 - Purchases of nonfinancial assets: - 2011: 5 215 433 324,6 - 2012: 418 814 485,1 - 2013: 4 577 537 834,7 - 2014: 5 513 288 787,2 - 2015: 6 240 388 371,5 - 2016: 3 308 979 283,0 - Cash surplus (+) / Cash deficit (-): - 2011: 2 526 936 307,5 - 2012: 2 329 576 642,1 - 2013: -4 808 304 429,7 - 2014: -8 053 220 429,0 - 2015: -14 716 493 735,6 - 2016: -12 212 397 797,7 - Cash surplus (+) / Cash deficit (-) as percent of GDP: - 2011: 2,21 percent - 2012: 1,81 percent - 2013: -3,32 percent - 2014: -4,92 percent - 2015: -7,91 percent - 2016: -6,06 percent - Net incurrence of liabilities: - 2011: 3 170 496 730,9 - 2012: 11 502 738 726,9 - 2013: 5 619 450 681,8 - 2014: 11 043 023 014,4 - 2015: 21 571 596 937,6 - 2016: 10 276 611 336,8 - Net cash inflow from financing activities: - 2011: 2 987 390 333,6 - 2012: 11 400 767 934,9 - 2013: 5 438 382 722,7 - 2014: 11 028 793 523,2 - 2015: 21 935 103 390,3 - 2016: 10 897 791 073,2 - Net change in the stock of cash (table entries): - 2011: 5 514 326 641,12 - 2012: 13 730 344 577,05 - 2013: 630 078 292,95 - 2014: 2 975 573 094,18 - 2015: 7 218 609 654,69 - 2016: - 1 314 606 724,44 - Memorandum Items: GDP - 2011: 114 126 409 400,0 - 2012: 128 370 000 000,0 - 2013: 144 775 000 000,0 - 2014: 163 736 000 000,0 - 2015: 186 015 000 000,0 - 2016: 201 576 394 371,4 Key figures — GRZ Outlays by Functions of Government – COFOG (Table 3, selected lines) - TOTAL OUTLAYS: - 2011: 22 800 375 229.0 - 2012: 26 178 540 813.5 - 2013: 31 853 610 009.1 - 2014: 39 529 236 847.2 - 2015: 49 004 716 025.6 - 2016: 51 815 508 645.7 - General public services: - 2011: 7 245 368 175.1 - 2012: 11 747 206 384.4 - 2013: 16 022 731 336.4 - 2014: 16 565 298 176.6 - 2015: 22 643 278 896.6 - 2016: 27 069 623 953.7 - Education: - 2011: 4 151 214 117.3 - 2012: 4 523 103 975.2 - 2013: 5 303 710 408.9 - 2014: 8 103 526 500.9 - 2015: 8 253 369 004.2 - 2016: 8 854 963 717.7 - Health: - 2011: 1 978 402 646.6 - 2012: 2 371 460 016.7 - 2013: 1 848 554 194.5 - 2014: 2 508 484 218.3 - 2015: 2 603 913 964.2 - 2016: 4 128 644 945.9 Key figures — GRZ Integrated Financial Balance Sheet (Table 4, selected lines) - Net Financial Worth at end-December 2016: - Closing balance 2015: - 73 254 897 034.23 - Transactions: - 10 834 637 187.61 - Other economic flows – Holding Gains and Losses: - 80 375.64 - Residual: 1 034 696 942.83 - Closing balance 2016: - 83 054 917 654.65 - Financial assets (total closing balance 2016): 17 285 636 716.32 (table lists Closing balance 2015: 17 348 790 601.95; Transactions: - 558 025 850.83; Holding Gains and Losses: - 126 307 771.26; Residual: 494 871 965.20) - Liabilities (total closing balance 2016): 100 340 554 370.97 (table lists Closing balance 2015: 90 603 687 636.18; Transactions: 10 276 611 336.78; Other columns as shown) Work-in-progress GG (as of 31st December 2015) — selected aggregates (Table 5 and Table 6) - GG Statement of Sources and Uses of Cash (as of 31st December 2015): - Total Revenue: 34 685 325 849,0 - BCG: 33 577 159 409,0 - Local Government: 828 268 294,0 - Extra budgetary: 0,0 - Social Security Funds: 279 898 146,0 - Total Expense: 43 783 063 790,1 - BCG: 42 626 551 542,1 - Local Government: 959 000 515,0 - Extra budgetary: 25 722 213,0 - Social Security Funds: 171 789 520,0 - Cash surplus (+) / Cash deficit (-) Total: -14 764 839 543,6 - GG Integrated Financial Balance Sheet (as of 31st December 2015): - Net Worth (Total): -72 523 968 283.2 - BCG Net Worth: -73 254 897 034.2 - Local Government Net Worth: -42 698 328.0 - Social Security Funds Net Worth: 773 627 079.0 - Financial assets (Total): 18 351 857 987.0 - Currency and deposits (Total): 17 682 075 474.0 - Liabilities (Total): 93 038 186 389.2 - Loans (Total): 55 169 591 837.3 - Securities other than shares: 20 255 461 632.8 - Other accounts payable (Total): 17 735 510 102.1 ### Observations on reconciliation and residuals - Change in net financial worth between years reflects financial transactions, holding gains or losses, and a significant residual amount (paragraph 49). - Holdings gains and losses in currency reported in IFMIS in 2014–2016 are not reflected in GRZ Financial Reports and could not be reconciled (paragraph 49). - Net financial worth for BCG at end-December 2016: negative Kwacha 83.054,92 million (expressed as - 83 054 917 654.65 in Table 4) (paragraph 50). - Total residual in integrated balance sheet equal to Kwacha 1.034,69 million (Residual: 1 034 696 942.83) which is less than 1 percent of GDP (paragraph 50). *Source: IMF mission report extracts as provided in the content unit.* ### 55. The exercise uses BCG data for the fiscal year 2015; used financial statements of ### 1zmbea2019001 - 55. The exercise uses BCG data for the fiscal year 2015; used financial statements of ### Data sources and scope - The exercise uses BCG data for the fiscal year 2015; used financial statements of seven extra-budgetary units: - (i) Copperbelt University - (ii) Zambia Institute of Policy Analysis and Research (ZIPAR) - (iii) Competition and Consumer Protection Commission - (iv) Energy Regulation Board - (v) Mulungushi University - (vi) Tobacco Board of Zambia - (vii) Zambia Revenue Authority - As for SSF, the exercise utilizes data of the Pension and Insurance Authority. - As for LG, the exercise used Lusaka City Council, the largest city council that alone accounts for 40 percent of total Local Government. - No consolidation was made; the exercise only considered aggregation of values. ### GFS time series, debt data, and e-GDDS - Findings and actions: - GFS time series for FY2011–2016 completed during the mission needs to be verified and officially resubmitted to the AFR and STA team for surveillance and for inclusion in the IMF’s annual GFSY. - Target Date: June 2018 - Responsible Institution: CSO - Compile and disseminate the debt data to AFR and upload it on the World Bank website. - Target Date: June 2018 - Responsible Institution: CSO - Compile and submit the Enhanced General Data Dissemination System (e-GDDS) in order to guarantee consistency and should seek training on it. - Target Date: Immediate and ongoing - Responsible Institution: CSO - Review GFS high frequency data and compile it in the same manner as annual process. - Target Date: Immediate and ongoing - Responsible Institution: CSO ### Consistency of GFS and other macroeconomic data - Findings: - The mission was informed about the process of compilation of quarterly and annual GDP especially in regard to the government statistics that are included in the process. - The National Account Units of CSO receives from GFS compilers, cross classification (COFOG vs. Economic nature) data that was suggested by a previous IMF TA mission on the System of National Accounts (SNA). - The mission found that the methodology is consistent, however, the quality of data available would be the main constraint. - The mission met with the BOZ and raised the issue of the need for consistency of macroeconomic statistics; and the linkages of GFS with Balance of Payment (BOP), and Monetary and Fiscal Statistics that are not being paid attention by the Zambian’s authorities. - It found that there is no interaction between entities that would guarantee consistency of data. - Recommendation: - The issue regarding consistency of GFS and other macroeconomic data should be part of frequent discussions of the Coordinating Committee. - Target Date: Ongoing - Responsible Institution: Coordinating Committee ### Resources and technical assistance (Public Finance unit, CSO) - Staffing and roles: - The Public Finance unit of the CSO has five staff: a head, two (2) statisticians, one (1) statistical officer and one (1) intern. - The compilation of GFS is done by one of the statisticians with support of the officer that has the task to review excel data files received and make it in format that facilitates the process of compilation GFS. - The head of the unit is quite new and is still familiarizing herself to the process. - Capacity and constraints: - The team is mainly dedicated to the compilation and dissemination of GFS but needs to be trained to acquire sufficient knowledge of the GFS framework to maintain effectively lead of the process, especially when it comes to the compilation of debt statistics. - Overall capacity and knowledge in the GFS needs to be strengthened. - Increase in human resources will be required when GFS will be effectively expanded to the public sector. - CSO staff has not attended any GFS course in more than five years. - The understanding was that invitation to attend GFS course are probably being sent for MOF and BOZ. The mission advised CSO to encourage staff to register to available GFS courses. - Work conditions are not satisfactory: CSO staff are using personal computer to compile GFS and personal transport to collect data. - Public Finance Unit has not had an allocation of funds for some years to effectively compile the GFS data. - Recommendations and target dates: - Attend available GFS and debt statistics courses. - Target Date: Ongoing - Responsible Institution: CSO - IMF department and training centers (MEFMI) should forward GFS course invitations to the CSO to nominate the officials responsible for the compilation of GFS. - Target Date: Ongoing - Responsible Institution: IMF and its training centers - Improve work conditions for Zambia’s GFS compilers. - Target Date: Immediate - Responsible Institution: CSO - Seek funds to support proper GFS compilation. - Target Date: Immediate - Responsible Institution: CSO - For sustainability and consistency purposes, the mission recommended that the CSO staff produce a GFS manual for compilation and dissemination of GFS data. - The mission noted CSO team eagerness to develop an annual publication and incentivize its use in fiscal analysis. - A GFS presentation was made during the mission to help CSO get a better notion of the GFS framework and to help motivate other Zambian entities responsible for providing and compiling macroeconomic statistics in providing stronger support. *Source: DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS (extracted from the provided content unit).* ### 64. A five-year Action Plan for Implementing GFSM 2014 in Zambia was elaborated in ### A five-year Action Plan for Implementing GFSM 2014 in Zambia ### Organization of GFS compilation process and methodology - Established objectives and milestones include organizing GFS compilation process, developing methodology, and institutional arrangements (Coordinating Committee, GFS manual, publications). - Key actions, target completion dates, and implementation status (as presented): - Establish Coordinating Committee. Target Completion Date: June 2018. Implementation Status: MoU is being drafted and possible members informed about the Committee. Priority: H - Attend GFS courses. Target Completion Date: June 2018. Priority: H - Get Public Finance Act approved. Target Completion Date: June 2018. Implementation Status: At Parliament for approval. Priority: L - Get Strategy of National Development of Statistic approved and Statistics Act approved. Target Completion Date: December 2018. Priority: L - Develop the Zambia's GFS Manual. Target Completion Date: March 2020. Priority: L - Publish Zambia’s Public-sector coverage GFS data. Target Completion Date: December 2018. Priority: L - Develop a publication with GFS data. Target Completion Date: December 2018. Priority: L ### Institutional coverage and inventories - Outcome: Complete Institutional Coverage - Complete inventory of Public Sector institutional units. Target Completion Date: March 2018. Implementation Status: Preliminary list of public units was created during the TA mission. It must be verified and agreed by all macroeconomic compilers. Priority: H - Revise classification Public Sector units. Target Completion Date: September 2018. Implementation Status: Carry on the exercise that was advanced. Priority: H ### GFS compilation for Budgetary Central Government (BCG) and related series - Review and submission actions: - Review GFS time series for the BCG (FY2011–2016) and submit to the IMF including Financial Balance Sheet. Target Completion Date: January 2018. Implementation Status: The mission compiled series and ongoing revision and submission to IMF required. Priority: H - Review COFOG coming out of IFMIS and adjust to GFS compilation. Target Completion Date: June 2018. Implementation Status: Integrated system produces COFOG although it must be revised to guarantee it provides the same result as GFS. Priority: H - Review government debt series FY2010-2016. Target Completion Date: March 2018. Priority: H - CSO must get access into IFMIS and create profiles. Target Completion Date: March 2018. Priority: L - Imbed GFS codes into IFMIS. Target Completion Date: June 2019. Priority: L - Implement reconciliation procedure for revenue, expenses, assets and liabilities reported. Target Completion Date: June 2018. Implementation Status: Identified problem regarding data quality. Priority: H - Submit quarterly GFS for the International Financial Statistics, IMF (2015Q1–2017Q3) including debt. Target Completion Date: March 2018. Priority: H ### Compilation of Extra-Budgetary Units (EBU), Social Security Funds (SSF), and Local Government GFS - Data collection and methodological development: - Collect financial statement data for public sector units other than budgetary central government. Target Completion Date: December 2018. Implementation Status: The mission developed templates to collect data from Councils, Extra-budgetary institutions and SOE's. CSO must validate and distribute to collect consistent data. Priority: H - Review classification economic transactions, assets and liabilities. Target Completion Date: March 2019. Priority: L - Develop estimating methods for compiling GFS statements and Balance Sheet. Target Completion Date: March 2019. Priority: L ### Compiling General Government GFS and consolidation - Full GG coverage and balance sheet: - Compile GFS for GG including Balance Sheet for 2013–2016. Target Completion Date: December 2019. Implementation Status: The mission did a first exercise, CSO should extend the coverage of GG. Priority: L - Develop consolidation methods for GG. Target Completion Date: December 2019. Priority: L ### Institutional structure of the general government - Central government subsectors and counts: - Subsector 1. Budgetary Central Government (Central government units covered by the budget): - 1.1) 21 Ministries [Preliminary list is presented below] - 1.2) 99 Heads [Preliminary list is presented below Included are the Presidency, Cabinet Office, Parliament of Zambia, Supreme Court of Zambia, Accountant General & Auditor General] - Subsector 2. Extra-budgetary units/entities: [Preliminary list is presented below with 188 public entities] - Subsector 3. Social Security Funds: - 3.1) Public Service Pension Fund (PSPF) - 3.2) National Pension Scheme Authority (NAPSA) - 3.3) Local Authorities Superannuation Fund (LASF) - 3.4) Workers Compensation Fund - Subsector 4. Not applicable (State Governments) - Subsector 5. Local Governments: - 5.1) 10 Provinces - 109 Councils - Data coverage by tables: - Data in central government tables cover operations of subsectors 1–2 - Data in social security funds tables cover operations of subsector 3 - Data in state government tables cover operations of subsector 4 - Data in local government tables cover operations of subsector 5 - A first provisional time series has been estimated for the years 2011 – 2016. ### Accounting practices and valuation - Bases of recording: Data are reported on a modified cash basis. - Liquidation or complementary period: n/a - Valuation of assets and liabilities: - Nonfinancial assets and equity are valued at historical cost, other financial assets and liabilities at face value. ### GFSM 2001/2014 Implementation Plan participation - The Zambian government is participating in the GFS Module of the United Kingdom’s Department for International Development (DFID)-funded Enhanced Data Dissemination Initiative 2 (EDDI 2) project. - Project aim: supporting participating countries compile and disseminate full general government GFS, including data on operations, financing, and financial balance sheets. ### GFS compilation process: data and possible sources - Coverage areas identified for data extraction and responsible institutions (as listed): - Revenue (Annual/Quarterly): Taxes flows, Grants flows, Social Contributions flows, Other Taxes flows, Other Revenue flows — sources include AG and BOOAGOAGMGLIDM and IDC (as presented in source). - Expense (Annual/Quarterly): By economic nature flows, By function (COFOG) flows — sources include AG and BOOAGOAGMGL (and noted n/a for some). - Assets and Liabilities: Fixed Assets, Inventory, Valuables, Nonproduced assets, Financial Assets by instrument, Financial Assets by Debtor, Liabilities by instrument, Liabilities at Nominal/Market value, Liabilities at Face Value, Liabilities by Creditor — multiple institutional sources identified including BoZ, AGO, AG, IDM, AMD, IDC, MLG (as presented). - Recommendations on data collection practice: - Ideally CSO should develop a questionnaire to send to each institution. Until then, it can use AGO auditing process. - Ideally data should be extracted from IFMIS system managed by Ministry - AG, IDM, AMD also receive or reconciled financial assets from BoZ. ### Entity inventories (counts and highlights) - Budgetary Central Government — preliminary entity counts and examples: - 21 Ministries (preliminary) - 99 Heads (preliminary) - Examples of identified heads and entities include: Office of the President (State House etc.), Office of the Vice President, National Assembly, Electoral Commission, Office of the Auditor - General, Teaching Service Commission, Police and Prisons Service Commission, Ministry of Local Government and Housing, Ministry of Finance, Ministry of Health, Ministry of Education, Science, Vocational Training and Early Education, Ministry of Agriculture and Livestock, Ministry of Defence, Anti Corruption Commission, and others (as presented). - Local Government — confirmed list: - 10 Provinces and 109 Councils with enumerated councils across provinces (e.g., Kabwe Municipal Council; Lusaka City Council; Chipata City Council; Ndola City Council; Solwezi Municipal Council; Livingstone City Council) and many Town Councils (as presented). - Extra-Budgetary Units — preliminary list: - 188 public entities across sectors including Education, Health, Transport, Energy, Economic agencies, Statutory and Regulatory Bodies, Boards and Agencies, Museums, Colleges and Universities, Hospitals, Commissions, Authorities, Funds, and others (examples include Zambia Revenue Authority (ZRA), Bank of Zambia, National Housing Authority, Zambia Wildlife Authority (ZAWA), Road Development Agency, National Roads Fund Agency) as presented. - State Owned Enterprises — preliminary list and ownership shares: - Examples and share holdings by GRZ (%): - Bank of Zambia Financial Services 100 - Development Bank of Zambia (DBZ) Financial Services 67 - Industrial Development Corporation (IDC) Other sector 100 - Zambia Consolidated Copper Mines (ZCCM) – Investment Holdings (IH) Mining IDC 87,6 - Zambia Electricity Supply Corporation Limited (ZESCO) Energy IDC 100 - Tanzania Zambia Railway Authority (TAZARA) Transportation & Logistics 50 - Ta zama Pipeline Limited Energy 60 - Multiple others listed with GRZ share percentages where provided (as presented). - List of Water and Sewerage Companies to research operating status (14 named companies, e.g., Lusaka Water and Sewerage Company; National Water and Sanitation Company (NWASCO); Southern Water and Sewerage Company Limited) as presented. ### Technical deliverables noted - H. Cash inflow bridge table(s) linking chart of accounts codes and GFSM 2014 classifications (including report specific line items) — referenced as a deliverable in the Action Plan. *International Monetary Fund — Action Plan and institutional/technical details for implementing GFSM 2014 in Zambia (extracted from source content).* ### 65. Zambia Revenue codes are captured in the Chart of Accounts based on the ### Zambia Revenue codes are captured in the Chart of Accounts based on the ### Revenue coding structure (Chart of Accounts digit positions) - Digit position: 1, 2 Cash inflow type - Digit position: 3 Sub-inflow type - Digit position: 4, 5 Cash inflow account ### Mapping to GFSM 2014 and general notes - The table bridges the Zambian Chart of Accounts with the GFSM 2014 classification; additional cash inflow accounts that featured in past annual reports are included and notated with a ‘-’ in the column ‘Cash inflow- Chart of Accounts code’. - Funding from bilateral or multilateral partners are coded with a default bridge in the table, but should be evaluated on a case by case base to evaluate whether this concerns a current or capital grant, or whether this concerns a loan received. See GFSM 2014 codes 131, 132 and 3224. - The Zambian COA labeled ‘Revenue’ covers all cash inflows of the budget; this is thus more expansive than revenue alone. ### Principal revenue categories and representative Chart of Account → GFSM 2014 mappings (selected items preserved verbatim) - Revenue 1 - Taxes 11 - Taxes on income, profits and capital gain 111 - By individuals 1111 - Advance Income Tax 1111 - 11150 Employed individuals 1111 - 11120 Individuals (self-employed) 1111 - 11140 Pay as You Earn 1111 - Withholding Tax (Contractors) 1111 - 11170 Withholding Tax (Dividends) 1111 - Withholding Tax (Rent, Interest and Royalties) 1111 - Withholding Tax (Lump Sum Payment) 11175 - By companies and corporations 1112 - 11130 Back Duty 1112 - 11110 Company Tax 1112 - Mining Corporate Tax 1112 - Mining Corporate Tax arrears 1112 - Other company Tax 1112 - Other Mineral Tax 1112 - Windfall Tax 1112 - Zesco Tax Arrears 1112 - Unallocable Tax 1113 - Taxes on payroll and work force 112 - Taxes on property 1131 - 11190 Mineral Royalty Tax 1136 - Taxes on goods and services 114 - General Taxes on goods and services 1141 - Value added 11411 - 11310 Domestic VAT 11411 - 11320 Import VAT 11411 - Sales Tax 11412 - Turnover and Other General Taxes on goods and services 11413 - 201/001 Equity levy 11413 - Taxes on financial and capital transactions 11414 - 11180 Property Transfer Tax 11414 - EXCISES 1142 - 11265 Estreated Deposits 1142 - 11255 Excise Duty - Airtime 1142 - 11220 Excise Duty - Cigarettes 1142 - 11230 Excise Duty - Clear Beer 1142 - 11225 Excise Duty - Opaque Beer 1142 - 11235 Excise Duty - Hydro-Carbon Oils 1142 - 11215 Excise Duty - Soft Drinks 1142 - 11240 Excise Duty - Spirits 1142 - Excise Duty - Sugar 1142 - 11245 Excise Duty - Pipe Tobacco 1142 - 11210 Excise Duty - Motor Vehicles 1142 - 11250 Excise Duty - Wine 1142 - 11278 Excise Duty ZESCO 1142 - Excise Duty – Electrical Energy 1142 - 11280 Fuel Levy 1142 - 12901 Stamp duty 1142 - 11258 Surtax - Opaque Beer 1142 - Profit on fiscal monopolies 1143 - Taxes on specific services 1144 - Betting and lottery board 1144 - Taxes on use of goods and on permission to use goods 1145 - Motor Vehicles Taxes 11451 - 11285 License - Motor Vehicles 11451 - 12270 Road Traffic Collections 11451 - 12948 Road Services Charges 11451 - 11275 Road Toll-RTSA 11451 - Other Taxes on use of goods and on permission to use goods 11452 - 12230 Casino License 11452 - 12260 Licenses for private radio and TV Stations 14452 - 12363 Consent Fees 11452 - 12210 ERB License Fees 11452 - 12285 Fish Licenses 11452 - 12220 Hotel License Fees 11452 - 11272 License Fees 11452 - 12299 Other Licenses 11452 - 12399 Other Fees 11452 - Radio and TV Licenses 11452 - Renewal of Licenses 11452 - Fees and Surface Rental Charges 11452 - Firearms License 11452 - TAXES ON INTERNATIONAL TRADE + TRANSACTIONS 115 - Customs and Other Import Duties 1151 - 11205 Customs Duty 1151 - 11282 Mineral Import Tax 1151 - Taxes on exports 1152 - Export Duty- Copper Concentrates 1152 - Export Duty- Cotton Seeds 1152 - Tourism Levy 1152 - Social contribution 12 - 11185 Medical Levy 1214 - Pensions 1212 - GRANTS 13 - From Foreign Governments 131 - Current 1311 - 14150 Denmark 1311 - DFID Health 1311 - 14175 Finland 1311 - 14130 Germany 1311 - 14160 India 1311 - 14165 Ireland 1311 - Japan Education 1311 - 14170 Netherlands 1311 - Netherlands REA 1311 - 14145 Norway 1311 - PEMFA-various donors 1311 - Regional Trade Facilitation 1311 - 14135 Russia 1311 - Saudi Arabia 1311 - SIDA REA 1311 - 14140 Sweden 1311 - UK/DFID 1311 - Capital 1312 - Australia 1312 - 14110 Canada 1312 - Canada/CIDA-Various Projects 1312 - 14155 China 1312 - Dannida/Netherlands 1312 - Denmark/Dannida-Various Projects 1312 - DUTCH 1312 - Finland/Finnida-Various Projects 1312 - 14115 France 1312 - Germany Projects 1312 - GTZ- Projects 1312 - Ireland-Various Projects 1312 - 14105 Italy-Various Projects 1312 - Japan 1312 - JGSP 1312 - KFW 1312 - Multi at Fund 1312 - Netherlands-Various Projects 1312 - NORAD /GTZ 1312 - Norway Government 1312 - SIDA-Various projects 1312 - SNV 1312 - 14140 Sweden 1312 - 14120 United Kingdom 1312 - 14125 United States 1312 - UPND Netherlands 1312 - Various Donors 1312 - From International Organizations 132 - Current 1321 - EDF 1321 - EU- Health 1321 - GLOBAL FUND 1321 - UNDP 1321 - UNFPA 1321 - USAID 1321 - 14230 European Union 1311 - Capital 1322 - ADB-Technical Assistance and Training 1322 - ADF 1322 - AFDB 1322 - COMESA 1322 - EC 1322 - EU Various projects 1322 - EU Mining 1322 - EU Roads 1322 - GEF 1322 - IDA/SIDA 1322 - International agric Ass. Exchange 1322 - NORDIC Development Fund 1322 - SADC 1322 - UN Systems 1322 - UNICEF 1322 - World Bank 1322 - 14220 World Bank 3324 - From Other General Govt 133 - Basket Funding - Commerce Trade & Industry 1311 - Basket Funding - local Govt & Housing 1311 - Basket Funding - Tourism Env. & natural Res. 1311 - SWAPS- Education 1311 - SWAPS- Health 1311 - Other Revenue 14 - Property income 141 - Interest 1411 - 12510 Interest on Bank Accounts 1411 - Co-Operatives 1411 - Debt to GRZ 1411 - FDCF 1411 - Govt. Bodies 1411 - 12530 Interest on Loans to Institutions - Companies and Corporations 1411 - 12520 Interest on Staff Loans - Motor car, Households and Refrigerators 1411 - 12540 Interest on Loans to Institutions - Statutory Bodies 1411 - TDCF Loan Repayments 1411 - 12599 Other Interests 1411 - Commissions 1411 - Commission on 3rd party micro-financing 1411 - Dividends 1412 - 12913 Dividends 1412 - Rent 1415 - 12325 Forestry Revenue 1415 - 12918 Ground Rent 1415 - 12250 Mining License 1415 - Sales of good and services 142 - Sales of market establishments 1421 - 12330 Lundazi Castle Hotel 1421 - 12375 Maritime and Inland Waterways Fees 1421 - 12395 Passenger Service Charges 1421 - 12396 Civil Aviation 1421 - Administrative Fees 1422 - 11270 Accounting Fees 1422 - 12370 Air Service Permit Fees 1422 - 12301 Assize Fees 1422 - 12394 Audit Fees 1422 - 12373 Aviation and Landing fees 1422 - 12343 Court Fees 1422 - 12355 Document Fees and Registration Fees - Lands 1422 - 12348 Factory Fees 1422 - 12915 Fees and surface rental charges 1422 - 12398 Finger prints 1422 - 12318 Immigration fees and charges 1422 - 12397 Inspection Fees 1422 - 12310 Import Declaration Fee 1422 - 12383 Media Fees 1422 - 12328 National Parks and Trophy Hunting 1422 - 12323 National Registration, Births and Deaths 1422 - 12399 Other Fees 1422 - 12320 Passports 1422 - 12305 Registration Fees 1422 - 12338 Registration of Private Colleges 1422 - 12335 Registration of Private Schools 1422 - 12387 Registration of Societies 1422 - 12280 Renewal of certificates 1422 - 12360 Survey Fees 1422 - 12390 TDI (Foreign) 1422 - 12377 Valuation Fees 1422 - 12368 Veterinary Fees 1422 - 12392 VISA (Foreign) 1422 - 12365 Water Board Fees 1422 - Incidental Sales 1423 - 12350 Administrator Generals Fees 1423 - 12410 Education Levy 1423 - 12333 Entry Fees and Sale of Crafts 1423 - 12953 Hire of Plant and Equipment 1423 - 12955 Hire of Dance Troupes 1423 - 12313 Independence Stadium Collections 1423 - 12376 Information Services 1423 - 12908 Legal Aid Contributions 1423 - 12345 Library services 1423 - 12315 Lotti Sports 1423 - 12379 Medical User Fees 1423 - 12903 Military revenue 1423 - 12389 National Archives 1423 - 12385 News Services 1423 - 12950 Office equipment and maintenance services 1423 - 12930 Plant quarantine and phytosanitary services 1423 - 12943 Printing Supplies 1423 - 12378 Meteorological Collections 1423 - 11268 Warehouse Rent 1423 - 12920 Rent of Government premises 1423 - 12923 Rent of properties abroad 1423 - 12910 Rents of Residential Properties 1423 - 11260 Rummage Sales 1423 - 12965 Proceeds from Sale of Produce and Livestock 1423 - 12963 Proceeds from Sale of Fish 1423 - 12968 Sale of Publications and Services 1423 - Fines, Penalties and Forfeits 143 - 12120 Admission of Guilt Fine 143 - 12110 Fines of Court 143 - 12199 Other Fines 143 - 11262 Fines 143 - 12960 Damage of Government Property 143 - Miscellaneous and unidentified revenue 144 - Current 1441 - 12999 Miscellaneous 14412 - Exceptional Revenue 14412 - Housing Allowance Recoveries 14411 - 11199 Other Revenue 14412 - Capital 1442 - 11299 Other Revenue 1442 - Insurance and Standardized Guarantee Schemes 1451 - Insurance Premium Levy 14511 - Net Worth and its Changes 3 - Non-Financial Assets 31 - Sales of Capital assets 3112 - Sale of P/Holder Vehicles 3112B - 12935 Proceeds from Sale of government vehicles 3112B - 12940 Proceeds from Sale of Plant and Equipment 3112B - Sale of Government Property 3113B - 12925 Proceeds from Sale of properties 3113B - Proceed from Sale of property-ministry of foreign affairs 3113B - Financing 33 - Financing (Domestic) 331 - Treasury Bills 3313 - Government Bonds 3313 - Promissory Note 3313 - Privatization Funds 3215A - Sale of Mofed Ltd 3215A - Non-Tax Arrears 3218 - Bank of Zambia 3314 - Financial Institutions 3314 - Other Loans 3314 - HIPC/MDR Resource 3324 - Financing (External) 332 - ADB OTHER PROJ 3324 - ADB/ADF 3324 - ADB/TAF 3324 - BADEA 3324 - BADEA/KUWAIT 3324 - Deutsche Bank 3324 - DEV. BANK OF SOUTH AFRICA 3324 - EXIM BANK CHINA 3324 - IAEA 3324 - IDA OTHER PROJ. 3324 - IDA/ADSP 3324 - IDA/IFAD 3324 - IDA/SIDA 3324 - IFAD - VARIOUS PROJECTS 3324 - 14210 International Monetary Fund 3324 - KUWAIT/FUND-KFAED 3324 - NORDIC DEV. FUND 3324 - OPEC 3324 - Sovereign Bond 3324 - United Bank for Africa (UBA) 3323 - 14220 World Bank 3324 ### Cash outflow (expenditure) coding structure and mapping notes - Digit position: 1, 2 Cash Outflow type - Digit position: 3 Sub-Outflow type - Digit position: 4, 5 Cash Outflow account - The table bridges the Zambian CoA with the GFSM 2014 classification; additional cash outflow accounts that featured in past annual reports are included and notated with a ‘-’ in the column ‘Cash Outflow- Chart of Accounts code’. - Grants are coded with a default bridge in the table, but should be evaluated on a case-by-case base to evaluate whether this concerns a current or capital grant. See GFSM 2014 (code 26). - Goods and services expenses accrued are coded 22 by default; these will need to be evaluated if these expenses accrued in the past can be recorded as such together with Other Accounts Payable (3318). - Loans to institutions (3314) and Other investments (3315) should be evaluated on a case-by-case basis whether a capital grant element (2632 or 2822) should be recorded. *Source: 1zmbea2019001 - 65. Zambia Revenue codes are captured in the Chart of Accounts based on the (PDF chapter).* ### 72. The Zambian CoA labeled ‘Expenses’ covers all cash outflows of the budget; thus, ### The Zambian Chart of Accounts — “Expenses” and Related Classifications (extract) ### Scope and framing - The Zambian CoA labeled ‘Expenses’ covers all cash outflows of the budget; thus, this is more expansive than expenses alone. ### Major GFSM classifications and key account ranges - Expense (2) - Compensation of employees (21) - Wages and Salaries (211) - 210000 Personal Emoluments - Other - 211000 Personal Emoluments - Contractual Salaries - 211110 Super scale - 211120 Salaries Div. I - 211130 Salaries Div II - 211140 Salaries Div III - 211150 Contractual Salaries - 211160 Salaries - Locally Engaged staff - 211170 Personal Emoluments - Other - 211180 Other Salaries and wages - 211210 Salaries Div. I - Teaching Service - 211220 Salaries Div. II - Teaching Service - 211230 Salaries Div. III - Teaching Service - 211240 Salaries - Part time - 211301 Salaries - Settlement of Outstanding Bills - 212010 Wages CEs - 212020 Other Wages - 212099 Other Wages - 213110 Retention Allowance - 213120 Special Education Allowance - 213130 Rural Hardship Allowance - 213140 Extra Duty Allowance - 213160 Double Class Allowance - 213166 Flexible Allowances - 213170 Other Flexible Allowances - 213199 Flexible Allowances - 213201 Cash in Lieu of Leave Div.I - 213203 Cash in Lieu of Leave Div. II - 213205 Cash in Lieu of Leave Div.III - 213207 Cash in Lieu of Leave - Teaching Service - 213209 Cash in Lieu of Leave CE's - 213211 Commuted Night Duty Allowance - 213213 Overtime Div. II - 213215 Overtime Div. III - 213217 Overtime CE's - 213219 Commuted Overtime - 213220 Fixed Allowances - 213221 Fixed Allowances - 213223 Operation Allowance - 213227 Responsibility Allowance - 213229 Instructors Allowance - 213230 Fixed Allowances - 213231 Machine Allowance - 213233 Shift Allowance - 213237 Trade Allowance - 213241 Bandsman Allowance - 213245 Dog Handler Allowance - 213247 Long Service Bonus - 213249 Traveling on Leave - 213251 Representation Allowance - 213253 Cost of Living Allowance - 213255 Entertainment Allowance - 213257 Bomb disposal allowance - 213259 On call allowance - 213260 Fixed Allowances - 213265 Cycle allowance - 213267 Transport allowance - 213269 Risk allowance - 213271 Housing Allowance - 213273 Spouse Allowance - 213275 Contract Gratuity - 213277 Inducement Allowance - 213279 Education Allowance - 213280 Other Allowances - 213281 Housing Allowance Teaching Service - 213283 Extra Accreditation Allowance - 213285 Fixed Allowances - 213286 Constituency Allowances - 213288 Fuel Allowance - 213289 Fixed Allowances - 213290 Fixed Allowances - 213291 Water Allowance - 213292 Acting allowance - 213293 Settling in Allowance - 213294 Utility Allowance - 213295 Disturbance Allowance - 213299 Other Fixed Allowances - 214030 Personnel Related Costs - 214091 Personnel Related Costs - 214301 Civil Service Restructuring - 214303 Restructuring Costs - Local Authorities Restructuring - 214305 Restructuring Costs - Grant Aided Institutions Restructuring - 214306 Restructuring Costs - Decentralization Costs - 214991 Other Personnel Related Costs - 217000 Other Personal Emoluments - 218110 Other Personal Emoluments - Employers' social contributions (212) - 214140 Other Statutory Contributions (2121) - 214210 Statutory Contributions - Nation Pension Scheme Authority (2121) - 214220 Public Service Pensions Fund Board (2121) - 214240 Other Statutory Contributions (2121) - 214299 Other Statutory Contributions (2121) - Use of goods and services (22) - Selected representative accounts: - 214110 Water Charges - 214120 Electricity Charges - 214130 House Maintenance - 214150 Furniture Maintenance - 214160 House Rentals - 214170 Security and Care taking - 214180 Housing Costs - 214230 Workman's Compensation - 220110 Suppliers of goods and services - 220161 Agriculture Supplies - 220299 Accrued Expenses - 221001 Office Costs - 221010 Office Material - 221020 Telephone, Fax, Telex, Radio (Charges and Maintenance) - 221030 Internet charges - 221040 Postal Charges - 221050 Computer and Peripheral Costs - 221060 Maintenance of Office Equipment - 221070 Machine spare parts - 221080 Data Processing Services - 221090 Books, Magazines, Newspapers, Information, Documents - 221210 Electricity Bills accrued* - 221220 Water Bills Accrued* - 221230 Telephone bills Accrued* - 221240 Rentals accrued* - 221299 Other accrued expenses* - 222000 Building, Repair and Maintenance Costs - 222010 Rentals for Buildings - 222020 Water and Sanitation Charges - 222030 Electricity Charges - 222040 Building Maintenance (Consumables, Cl and other) - 222050 Office furniture and Fittings (Maintenance) - 222070 Security and Care taking Charges - 222080 Taxes, Rates and Levies - 223010 Petrol, Oil and Lubricants - 223020 Servicing (Other Consumables) - 223030 Spare Parts - 223040 Tires - 223050 Repairs - 223066 Plant, Machinery, Vehicle Running and Maintenance Costs - 224000 Other Administrative Operating Costs - 224040 Uniform Allowance - 224045 Other Administrative Operating Costs - 224050 Repatriation Allowance - 224060 Boards and Committees Allowances - 224070 Loss of Public Money/Stores - 225000 Requisites (Hand Tools and Equipment, Dental Material, Protective Wear, etc.) - 226001 Consultancy, Studies, Fees, Technical Assistance - 226003 Audit fees - 226004 Accounts and Audit Services Expenses - 226005 Printing - 226008 Advertisement and Publicity - 226010 Technical Equipment Repair & Maintenance - 226012 Agricultural Services - 226013 Transportation - 226018 Official Entertainment - 226020 Public Functions and Ceremonies - 226028 State Funerals - 226030 Accommodation - 226033 Expenses of Boards and Committees - 226035 Hire of Motor Vehicles - 226038 Commission of Inquiry - 226045 Cultural Promotion - 226048 Census and Statistical Survey Expenses - 226050 Population and Communication - 226058 Research and Feasibility Studies - 226060 Labor Day Expenses and Awards - 226063 Hire of Plant and Equipment - 226065 Operations - 226066 Operations (PRSP) - 226068 Court Sessions - 226070 Cycle Maintenance - Regravelling and Resealing - 226073 Medical Fees/Charges - 226075 Medical Fees/Charges Abroad - 226076 Aviation Services - 226078 Conferences, Seminars and Workshops - 226083 Bank Charges - 226087 Other Operational Expenses - 226089 Witness Fees - 226090 Other Services - 227020 Other Services - 227030 Travel Expenses - 227040 Travel Expenses - 227050 Travel Expenses - 227110 Road, Rail and Air Fares - 227120 Accommodation Charges - 227130 Allowances - Travel Exchange - 227135 Out of Pocket Allowances - 227140 Kilometer Allowances - 227150 Petrol, Oil and Lubricant - 227160 Airport Charges - 227170 Presidential Travel - 227180 Travel Expenses Within Zambia - 227190 Other Travel Expenses Within Zambia - 227199 Other Travel Expenses Within Zambia - 228099 Training - 228110 Training Allowances - 228120 Training and Education Charges - 228125 Facilitation Allowances - 228130 Workshops, Seminars and Conferences - 228140 Road, Rail and air Fares - 228150 Other Training Expenses & Staff Development within Zambia (<= 6 Months) - 228210 Training Allowances - 228220 Training and Education Charges - 228225 Facilitation Allowances - 228230 Workshops, Seminars and Conferences - 228240 Road, Rail and Air Fares - 228250 Other Expenses - 228310 Training Allowances - 228320 Training and Education Charges - 228350 Road, Rail and Air Fares - 228360 Other Expenses - 228390 Long term training & Staff Development within Zambia (> 6 Months) - 228410 Training Allowances - 228420 Training and Education Charges - 228440 Road, Rail and Air Fares - 228450 Other Expenses - 228490 Long term training & Staff Development outside Zambia (> Months) - 228499 Other Expenses - 228510 Registration - 228520 Subscriptions - 228530 Other Operational Expenses - 228599 Other Registration and Subscriptions - 228610 Medical Charges Within Zambia - 228620 Medical Charges Outside Zambia - 228630 Other Medical Costs - 228710 Other Expenses - 228999 Other Training Expenses - 229020 Witness Fees - 229040 Penalties (Court Cases) - 229050 Legal Fees - 231050 Other Costs - 281010 Constitutional Emoluments - 281020 Other Constitutional - 282010 Secretarial Allowances - 282020 Legal Costs - 282050 Fuel Allowance - 282060 Other Constitutional Expenditure - 282099 Other Allowance Constitutional - 283010 Secretarial Allowance - 283050 Fuel allowance - 283090 Water Allowance - 283099 Other Allowances Constitutional Posts - 284010 Statutory Expenditure - 285010 Constitutional & Statutory Expenditure - 285110 Constitutional & Statutory Expenditure - 289811 Statutory Expenditure - 291020 Witness Fees - 291040 Penalties (Court Cases) - 291050 Legal Fees - 291200 Constitutional & Statutory - Litigation - 291220 Non-Constitutional Expenditure - 291250 Non-Constitutional Expenditure - 291301 Settlement of Outstanding Bills - Legal Costs - 292010 Legal Costs - 293050 Constitutional & Statutory Expenditure - 293090 Constitutional & Statutory Expenditure - 293099 Constitutional & Statutory Expenditure - 294010 Statutory Expenditure - 299990 Constitutional & Statutory - Office Expenses - 299999 Constitutional & Statutory - Provisions - 311209 Loose Tools - 311210 Marine Equipment - 311212 Solar Equipment - 311216 Leased Motor Vehicles - 311233 Leased Motor Vehicles - 311303 Telephone, Fax, Telex, Radio - 311307 Telephone, Fax, Telex, Radio - 312201 Material and supplies - 331301 Other services - 333126 Other Services - 411110 Suppliers of goods and services - 411180 Contractors - Consumption of fixed capital (23) - 231015 Depreciation on Motor vehicles - 231030 Depreciation on plant and machinery - 232040 Depreciation on leased computers and peripherals - Interest (24) - 241030 Interest on Bilateral Relations (241) - 241050 Service Fee Charges - Bilateral Relations (241) - 242010 Interest on Bilateral (241) - 242099 Interest on Other External Debt (241) - 240000 Financial Charges (242) - 241001 Interest on loans - Multilateral Relations (242) - 241002 Interest on Loan - Domestic (242) - 241040 Interest on Other debts (242) - 241060 Service Fee Charges - Multilateral Relations (242) - 242020 Interest on Multilateral (242) - 242030 Interest on other investments of Government Institutions (242) - 243010 Financial Charges (242) - 243020 Interest on Finance (242) - 243330 Interest on Loan (242) - 245010 Financial Charges (242) - 249010 Contractual Penalties (242) - 249020 Interest on finance leases (242) - 249031 Financial Charges (242) - 249032 Financing Costs (242) - 249903 Other Financial Charges (242) - 243028 Listing Costs of Government Securities (242) - 249028 Listing Costs of Government Securities (242) - 241010 Interest on Treasury Bills (243) - 241018 Interest on Domestic Debt (243) - 241020 Interest on Domestic Debt (243) - Subsidies (25) - 271010 Subsidies to Non-Financial Public Enterprises (251) - 274010 Other Subsidies (251) - 279901 Other Subsidies (251) - 279910 Other Subsidies (251) - Grants (26) - 261030 Grants to Non-Governmental Organizations (2621) - 262010 Grants to Non-Governmental organizations (2621) - 267010 Contributions to international organizations (2621) - 260000 Grants & Other Payments (2631) - 261010 Grants to Government agencies (2631) - 261020 Grants to Local Authorities (2631) - 262020 Grants to Non-Government (2631) - 263040 Grants to Chiefs (2631) - 263050 Grants and Other Payments (2631) - 264010 Grants to Institutional Revolving Funds (2631) - 265010 Other Grants (2631) - 266010 Funding to Government (2631) - 266099 Transfers to Government Units (2631) - Social Benefits (27) - 291010 Compensation and Awards (271) - 291210 Compensation and Awards (271) - 411430 Compensation and Awards (271) - 225013 Drugs for HIV and AIDS (272) - 226043 Relief, Repatriation and Burial of Destitute (272) - 226044 Award Presentations (272) - 229010 Compensation and Awards (272) - 251010 Death on duty benefit (272) - 251020 Burial benefit (272) - 251030 Social Assistance Benefits (272) - 251099 Other Social Benefits (272) - 251160 Compensation and Awards (272) - 252040 Social Assistance Benefits - Other (272) - 263030 Welfare, aid, assistance and relief (272) - 229030 Retrenched Claims (273) - 281030 Retrenched Claims (273) - 291030 Retrenched Claims (273) - Other Expenses (28) - 224012 Bad Debts (5204) - 228340 Bursaries Award (2821) - 228430 Bursaries Award (2821) - 263020 Scholarships (2821) - 221095 Insurance - Other (2831) - 223060 Insurance (2831) - 226040 Insurance - Technical Equipment (2831) - 222060 Insurance for Buildings (2832) - Net Worth and its Changes (3) - Non-Financial Assets (31) — Fixed Assets (311) and subcategories - A broad set of AUC (3111A, 3112A, 3113A, etc.) and specific asset account codes: - 229100 AUC- Buildings and Structures (3111A) - 229101 AUC- Residential Buildings (3111A) - 229102 AUC-Office Buildings (3111A) - 229108 Industrial Buildings (3111A) - 229199 AUC-Other Buildings and Structures (3111A) - 229401 Dams (3111A) - 300201 Buildings and Structures (3111A) - 311101 Residential Buildings (3111A) - 311102 Office buildings (3111A) - 311103 Fixtures and fittings (3111A) - 311107 Hospitals, Clinics and Health Centers (3111A) - 311108 Industrial buildings (3111A) - 311109 Residential Buildings (3111A) - 311110 Office buildings (3111A) - 311118 Office Buildings (3111A) - 311119 Other Buildings (3111A) - 311123 Buildings and Structures (3111A) - 311130 Buildings and Structures (3111A) - 311199 Buildings and Structures (3111A) - 229103 AUC-Fixtures and Fit (3112A) - 310000 CAPEX-Movable Assets (3112A) - 311111 Fixtures and fittings (3112A) - 311201 Earth Moving Machinery (3112A) - 311202 Cranes (3112A) - 311203 Air Conditioning Equipment (3112A) - 311204 Elevators (3112A) - 311205 Electrical and Electronic Equipment (3112A) - 311206 Medical Equipment (3112A) - 311207 Laboratory and Scientific Equipment (3112A) - 311208 Agriculture Equipment (3112A) - 311211 Camping Equipment (3112A) - 311219 Cranes (3112A) - 311220 Air Conditioning Equipment (3112A) - 311222 Electrical and Electronic Equipment (3112A) - 311223 Medical Equipment (3112A) - 311224 Laboratory and Scientific Equipment (3112A) - 311225 Agriculture Equipment (3112A) - 311226 Loose Tools (3112A) - 311230 Industrial Equipment (3112A) - 311236 Plant, Machinery and Equipment (3112A) - 311290 Plant, Machinery and Equipment (3112A) - 311298 Other Machinery and Equipment (3112A) - 311299 Other Machinery and Equipment (3112A) - 311300 Office Equipment (3112A) - 311301 Computers, Peripherals, Equipment (3112A) - 311302 Communication Equipment (3112A) - 311304 Refrigerator, TV, VCR, Cameras, Air Conditioners (3112A) - 311305 Computers, Peripherals, Equipment (3112A) - 311306 Communication Equipment (3112A) - 311308 Refrigerator, TV, VCR, Cameras (3112A) - 311398 Other Office Equipment (3112A) - 311399 Other Office Equipment (3112A) - 311501 Office Furniture (3112A) - 311502 Residential Furniture (3112A) - 311503 School Furniture (3112A) - 311504 Hospital Furniture (3112A) - 311505 Office Furniture (3112A) - 311506 Residential Furniture (3112A) - 311507 School Furniture (3112A) - 311508 Hospital Furniture (3112A) - 311601 Land Equipment (3112A) - 311602 Air Equipment (3112A) - 311701 Bicycles (3112A) - 311702 Motor Cycles <= 125cc (3112A) - 311703 Motor Cycles Over 125cc (3112A) - 311704 Motor Vehicles <= 3500kg (3112A) - 311705 Motor Vehicles Over 3500 Kg but Less than 16000Kg (3112A) - 311706 Heavy Duty Vehicles? 16000Kg (3112A) - 311709 Motor Cycles ?125cc (3112A) - 311710 Motor Vehicles? = 3500kg (3112A) - 311711 Motor Vehicles over 3500 Kg? = 16000Kg (3112A) - 311801 Ambulances (3112A) - 311803 Graders (3112A) - 311804 Ambulances (3112A) - 311809 Assets under Construction (3112A) - 311899 Other Specialized vehicles (3112A) - 229104 AUC-Schools (3113A) - 229105 AUC-Colleges (3113A) - 229106 AUC-University (3113A) - 229107 AUC-Hospitals, Clinics and Health Centers (3113A) - 229109 Other Infrastructure Development Costs (3113A) - 229404 Produced Assets - State highway bridges (3113A) - 229405 Produced Assets - Full Road Regravelling (3113A) - 229406 Produced Assets - Upgrading, Rehabilitation and Construction of Roads (3113A) - 229407 Produced Assets - Boreholes (3113A) - 229408 Produced Assets - Airport Infrastructure (3113A) - 229409 Produced Assets - Electricity Development (3113A) - 229499 Other Produced Assets (3113A) - 311104 Schools (3113A) - 311105 Colleges (3113A) - 311106 Universities (3113A) - 311112 Schools (3113A) - 311113 Colleges (3113A) - 311115 Hospitals, Clinics and Health Centers (3113A) - 311116 Industrial buildings (3113A) - 311401 Dams (3113A) - 311402 Cultivated assets (3113A) - 311405 State highway bridges (3113A) - 311406 Roads - Gravel (3113A) - 311407 Roads - Bituminous Standard (3113A) - 311408 Boreholes (3113A) - 311409 Airfields (3113A) - 311410 Electricity Development (3113A) - 311415 Produced Assets (3113A) - 311417 Produced Assets (3113A) - 311418 Produced Assets (3113A) - 311499 Produced Assets (3113A) - 312101 Non-Financial Assets (3113A) - 317001 Non-Financial Assets (3113A) - Inventories (312) - 312103 Strategic Stocks (312A) - 312203 Finished goods (312A) - 312299 Other inventory (312A) - Valuables (313) - 313099 Other valuables (313A) - 313508 Valuables (313A) - Non-Produced Assets (314) - 314003 Land (3141A) - 314001 Subsoil Assets (3143A) - 314002 Other naturally occurring assets (3143A) - 314005 Other Non-Produced Assets (3143A) - 314099 Non-Produced Assets (3143A) - 314100 Non-Produced Assets (3143A) - 311930 Intangible Fixed Assets (3144A) - 311950 Intangible Fixed Assets (3144A) - 311999 Other intangible assets (3144A) - 314004 Intangible non-produced assets (3144A) - Financial Assets (32) - 224010 Provisions (3212A) - 322010 Standing imprest (Petty Cash) (3212A) - 320002 Loans to institutions (3214A) - 321010 Loans to institutions (3214A) - 321030 Housing loan Scheme (3214A) - 322030 Housing loans (3214A) - 322040 Household loan (3214A) - 322050 Car loans (3214A) - 322099 Other loans (3214A) - 326020 Revolving Fund Accounts (3214A) - 226054 Recapitalization and investments of Government Institutions (3215A) - 251130 Recapitalization and investments of Government Institutions (3215A) - 320099 Other investments (3215A) - 268110 Settlement of Outstanding Bills - Grants (3218A) - 321001 Debtors (3218A) - 321099 Other Debtors (3218A) - 321131 Debtors (3218A) - 321501 Debtors (3218A) - 322060 Tuition Advances (3218A) - 322070 Staff Advances (3218A) - 323020 Financial Assets (3218A) - 323099 Other prepayments (3218A) - Liabilities (33) - 421199 Long term Liabilities- payable for more than one year (3314B) - 421399 Domestic creditors (3314B) - 411160 Public Service Pension Fund (3316B) - 220000 Settlement of Outstanding Bills - Goods and Services (3318B) - 220613 Settlement of Outstanding Bills - Goods and Services (3318B) - 220999 Settlement of Outstanding Bills - Goods and Services (3318B) - 221000 Settlements of goods (3318B) - 226110 Settlement of Outstanding Bills (3318B) - 253110 Settlement of Outstanding Bills - Social Benefits (3318B) - 411199 Current Liabilities (Payable within one year) (3318B) - 411210 Electricity Bills accrued* (3318B) - 411220 Water Bills Accrued* (3318B) - 411230 Telephone bills Accrued* (3318B) - 411240 Rentals accrued* (3318B) - 411299 Other accrued expenses* (3318B) - 411399 Other Creditors (3318B) - 411450 Current Liabilities (Payable within one year) (3318B) - 421199 Other Creditors (3318B) - 421110 Multilateral (3324B) - 421130 Foreign Creditors (3324B) - Classification of holding gains and losses in assets and liabilities (4) - 243025 Loss on currency (4302) ### Accrual note - Accounts marked with * (e.g., 221210 Electricity Bills accrued*, 411210 Electricity Bills accrued*) indicate that accrued expenses presume these expenses are accrued in the financial year, but not necessarily paid. The note states: "Need to verify whether an Other Accounts Payable is also accrued." ### Officials met during the mission (extract — names and institutions) - Central Statistical Office - Mr. John Kalumbi — Director - Mr. Goodson Sinyenga — Assistant Director – Economics and Financial Statistics - Ms. Cecilia M. Munjita — Senior Statistician (Public Finance) - Mr. Lovemore M. Zomde — Principal Statistician (Living Conditions) - Mr. Nkandu Kabibwa — Senior Statistician - Ms. Salome Naluyele — Statistician (Public Finance) - Ms. Evenny Chiyala — Statistician (Public Finance) - Mr. Joseph Chulu — Statistical Officer (Public Finance) - Mr. James Nyimbili — Intern (Public Finance) - Mr. Isaac Soko — Statistician (National Accounts) - Ms. Keena Namfukwe — Statistician (National Accounts) - Ms. Nancy Kazembe — Statistician (National Accounts) - Mr. George Mubanga — Statistical Officer - Ministry of Finance / Accountant General / IFMIS and related (selected) - Mr. O’Brien Siame Katai — Chief Accountant (IFMIS) - Mr. Fred Muyowe — Principal Accountant (Expenditure) - Mr. Innocent Mututa — Principal Accountant - Mr. Chembe Mkunsha — Senior Accountant (Revenue) - Mr. Hector Sampa — Principal Accountant (Revenue) - Ministry of Finance — Budget Office and Investment & Debt Management (selected) - Ms. Mwaka C. Mukubesa — Director (Budget Office) - Ms. Kaoma Chisanga — Budget Analyst - Ms. Carol Chimimba — Senior Budget Analyst - Ms. Victoria Y. Kaulungonbe — Senior Economist (Investment and Debt Management) - Mr. Malack Luhanga — Assistant Director for Debt data - Mr. Kabaso F. Kabwe — Senior Economist (Investment and Debt Management) - Mr. Bertha B. Sinyangwe — Senior Economist (Investment and Debt Management) - Ms. Estella Nyimba — Economist (Investment and Debt Management) - Mr. Felix Nsama — Chief Accountant (Investment and Debt Management) - Mr. Duncan Mtonga — Economist (Investment and Debt Management) - Mr. Katola Muchinda — Economist (Investment and Debt Management) - Bank of Zambia — Economics / Balance of Payments (selected) - Mr. Mutenwa Malimba — Senior Economist (Economics Department/Information & Statistics Department) - Mr. Jacob Lungu — Senior Economist - Ms. Chritabel Mwananshiku — Senior Economist (Balance of Payment) - Mr. Chisala Sofia Ngandwe — Senior Economist (Balance of Payment) - Mr. Kamun Mulele — Economist (Balance of Payment) - Mr. Francis M. Muma — Senior Economist (Balance of Payment) - Mr. Kafula W. Longa — Economist (Balance of Payment) - Other institutions and officials (selected) - Mr. Brian Simukoko — Principal Local Government Auditor (Ministry of Local Government/Administration) - Ms. Nancy Mwamba — Chief Accountant (Ministry of Local Government/Accounting Department) - Mr. Jones K. Chisoko — Assistant Director (Lusaka City Council/Finance) - Mr. Matipa C. Chishimba — Senior Revenue Manager (Lusaka City Council/Finance/Revenue) - Mr. Stewart Ngandu — External Auditor (Office of Auditor General) - Mr. Alfredo Baldini — Resident Representative, Zambia (International Monetary Fund) *ZAMBIA INTERNATIONAL MONETARY FUND* --- _Source: https://www.imf.org/-/media/files/publications/cr/2019/1zmbea2019001.pdf_