The IMF projects that Zambia’s economy will show better resilience in 2024 than anticipated, driven by strong performance in the mining and non-mining sectors. An IMF team visited Zambia to discuss economic developments and assess progress under the IMF-supported program, with further reviews to follow in May.
The International Monetary Fund (IMF) has announced that Zambia’s economy has demonstrated a level of resilience surpassing previous expectations for the year 2024. This positive assessment is bolstered by unexpectedly strong performance across both the mining and non-mining sectors of the economy.
This observation was made following a visit by an IMF staff team to Zambia from February 19 to February 25, 2025. During this visit, the team engaged with Zambian officials, including Finance Minister Situmbeko Musokotwane and Bank of Zambia Governor Denny Kalyalya, to discuss economic progress and commitments under the IMF-supported program.
Mercedes Vera-Martin, the IMF Mission Chief for Zambia, reported that the team evaluated the government’s advancements in fulfilling significant commitments related to the IMF program. This assessment will be formally recognized during the upcoming fifth review of the Extended Credit Facility, scheduled for early May of this year.
In summary, Zambia’s economy is exhibiting greater durability than previously thought, primarily due to strong performances in key sectors. The IMF continues to work alongside Zambian authorities to monitor progress on their economic commitments, with further assessments anticipated during the upcoming review of the credit facility.
Original Source: znbc.co.zm
