The IMF has reported that Zambia’s economy is exhibiting greater resilience than expected for 2024, driven by strong performances in both mining and non-mining sectors. This conclusion followed discussions between IMF officials and Zambian authorities during a visit in late February 2025. Formal assessments regarding progress will be conducted in May during the fifth review of the Extended Credit Facility.
The International Monetary Fund (IMF) has reported that Zambia’s economy is displaying greater resilience than initially foreseen in 2024. This positive outlook is attributed to a stronger-than-expected performance in both the mining and non-mining sectors. This assessment comes after a visit from an IMF staff team held from February 19 to February 25, 2025, coinciding with the Fund’s continued collaboration with Zambian authorities and various stakeholders.
During this visit, the team, led by IMF Mission Chief for Zambia, Ms. Mercedes Vera-Martin, engaged in discussions with prominent figures, including Finance Minister Situmbeko Musokotwane and Bank of Zambia Governor Denny Kalyalya. They also consulted with representatives from multiple government agencies and key stakeholders. The discussions aimed to evaluate the government’s progress in fulfilling critical commitments under the IMF-supported program.
At the conclusion of the visit, Ms. Vera-Martin stated that the staff team reviewed the advancements made by the government concerning its obligations under the IMF arrangement. The outcomes of this evaluation will be formally addressed during the fifth review of the Extended Credit Facility arrangement, which is anticipated to commence with a mission in early May this year.
This comprehensive engagement illustrates the ongoing commitment of both the IMF and the Zambian authorities to enhance the country’s economic stability and growth.
In summary, the IMF’s recent findings indicate a surprisingly robust performance of Zambia’s economy in 2024, driven by the mining and non-mining sectors. The discussions between IMF officials and Zambian leadership highlighted ongoing efforts to meet fiscal responsibilities under the arranged programs. Future assessments will further clarify the economic trajectory and progress of Zambia as it approaches the fifth review of the Extended Credit Facility.
Original Source: znbc.co.zm
