The IMF reported Zambia’s economy is more resilient than anticipated in 2024, buoyed by solid performance in mining and non-mining sectors. This assessment follows an IMF team visit for ongoing engagement with Zambian authorities. The government’s adherence to the IMF-supported program will be evaluated in the upcoming fifth review of the Extended Credit Facility.
The International Monetary Fund (IMF) has reported that Zambia’s economy is displaying greater resilience than previously expected in 2024. This positive assessment stems from an unexpectedly strong performance in both the mining and non-mining sectors. The IMF’s observations followed a visit by an IMF staff team to Zambia from February 19 to February 25, 2025, aimed at ongoing discussions with Zambian authorities and stakeholders.
During this visit, the IMF team, led by Mission Chief for Zambia Mercedes Vera-Martin, engaged in productive discussions with key figures including Finance Minister Situmbeko Musokotwane and Bank of Zambia Governor Denny Kalyalya. The discussions also included representatives from various government agencies and important stakeholders. Mrs. Vera-Martin concluded that the team evaluated the government’s progress toward meeting important commitments under the IMF-supported program.
The evaluation of the progress made by the Zambian government will be formally reviewed in the context of the fifth review of the Extended Credit Facility arrangement. This review is expected to commence with a mission in early May of this year, indicating continued collaboration between the IMF and Zambia moving forward.
In summary, the IMF’s recent report highlights Zambia’s unexpected economic resilience in 2024, driven by robust sector performance. The ongoing engagement between the IMF and Zambian authorities underscores the commitment to achieving key economic targets. The forthcoming fifth review of the Extended Credit Facility will further assess the government’s progress and adaptability to economic challenges.
Original Source: znbc.co.zm
