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The International Monetary Fund (IMF) has expressed satisfaction with Zambian government’s implementation of the country’s home-grown economic reform programme.
Speaking during a media briefing at the Ministry of Finance and National Planning on Monday, IMF Deputy Managing Director, Nigel Clarke, said the Fund was pleased to support Zambia’s economic recovery efforts.
“Zambia is a country of tremendous potential, and we at the IMF are happy to partner with the government on its reform programme, which is designed to improve the economy for the benefit of the Zambian people,” Clarke said.
Finance and National Planning Minister, Situmbeko Musokotwane, acknowledged that IMF support under the Enhanced Credit Facility (ECF) had been critical in stabilising the economy after a period of debt-induced deterioration between 2015 and 2021.
He cited improved economic indicators, including a 4 percent growth rate in 2024 and a projected 6.6 percent in 2025.
“For us, this is a source of encouragement. More importantly, we thank the IMF for the excellent working relationship and tremendous support we’ve received over the past three and a half years,” Musokotwane said.
He noted that much of Zambia’s debt had been restructured, and budgetary adjustments had prioritised essential sectors such as education, healthcare, and social support for drought-affected communities.
“All this has been made possible because of the reform programme the government embarked upon, with support from the IMF and other cooperating partners,” Musokotwane added.
He described the previous economic situation as unsustainable, saying bold reforms were necessary and that Zambia’s economic outlook now appeared bright.
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