IMF official, Clarke, claims Zambia’s economic reforms have positively impacted citizens more than expected

The International Monetary Fund (IMF) has pledged continued support for Zambia’s economic reform efforts, with a focus on building resilience against shocks from natural disasters and shifting geopolitical dynamics.

IMF Deputy Managing Director, Nigel Clarke, made the commitment on Tuesday when he paid a courtesy call on President Hakainde Hichilema at State House in Lusaka.

“Zambia’s economic recovery programme has responded to the needs of citizens in ways many thought were impossible,” Clarke said, praising the government’s commitment to reform and effective coordination.

He noted that the ongoing reforms have bolstered Zambia’s macroeconomic fundamentals while enabling increased investment in the health and education sectors, particularly during last year’s drought.

President Hichilema said the reforms, backed by the IMF, had shifted public spending from consumption to investment and helped stabilize a treasury previously weighed down by unsustainable debt.

“The mining sector has recovered and is attracting new investment, while reforms in the energy sector are increasing the country’s ability to withstand external shocks such as drought,” Hichilema stated.

He thanked the IMF for its role in Zambia’s homegrown recovery plan, which he said had helped more than two million children return to school and reversed negative economic growth.

Hichilema added that Zambia remained committed to working with the IMF to safeguard the progress made.

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