The IMF highlights Zambia’s economy showing greater resilience than expected in 2024, driven by strong performances in mining and non-mining sectors. This assessment follows a recent visit from IMF staff, led by Mercedes Vera-Martin, who engaged with key Zambian officials. A formal evaluation of the government’s progress is expected in May during the fifth review of the Extended Credit Facility arrangement.
The International Monetary Fund (IMF) has reported that Zambia’s economy is demonstrating resilience beyond initial forecasts for 2024. This positive development is attributed to better-than-expected performance across both the mining and non-mining sectors. The findings emerged following a visit by the IMF staff team to Zambia, which convened from February 19 to 25, 2025, to engage with Zambian authorities and key stakeholders.
During the visit, led by IMF Mission Chief Mercedes Vera-Martin, discussions were held with significant figures such as Finance Minister Situmbeko Musokotwane and Bank of Zambia Governor Denny Kalyalya. The team also met with various government representatives and stakeholders, highlighting substantial dialogues regarding the nation’s economic progress.
At the conclusion of the visit, Mrs. Vera-Martin emphasized that the staff team reviewed the Zambian government’s achievements related to key commitments under the IMF-supported program. She noted that these efforts would be formally evaluated in the context of the forthcoming fifth review of the Extended Credit Facility arrangement, which is scheduled to commence with a mission in early May.
In summary, the IMF has recognized Zambia’s stronger-than-anticipated economic resilience for 2024, driven by notable performances in critical sectors. The organization continues to monitor Zambia’s commitments under the IMF program, with a formal assessment set for May 2025. The engagement between the IMF and Zambian authorities signifies continued collaboration aimed at fostering economic stability.
Original Source: znbc.co.zm
