ZAMBIA IS A COUNTRY OF TREMENDOUS POTENTIAL - IMF
ZAMBIA IS A COUNTRY OF TREMENDOUS POTENTIAL – IMF
Today, Finance and National Planning Minister Situmbeko Musokotwane MP held an information exchange meeting with visiting International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke.
Below are the highlights:
REMARKS BY DR. SITUMBEKO MUSOKOTWANE
✅ The International Monetary Fund (IMF) through the Enhanced Credit Facility (ECF) Programme has made it possible for the economy’s current 4% Growth Domestic Product (GDP) growth rate registered in 2024 and the 6.6% projected for 2025, a source encouragement.
✅ Commended the IMF for the tremendous good working relationship, and for the tremendous support that Zambia has had in the last three and a half years.
✅ The Minister said three, four years ago, Zambia was in dire straits as it was saddled with unsustainable debt.
✅ The economy was hardly growing, investments, especially in the mining sector, were either stagnant or investors were threatening to leave.
✅ However, under the New Dawn Administration, most of the debt has been restructured and adjustments have been made to the budget, taking away money from areas that were less critical and shifting the resources to provide for the needs of the common-man.
REMARKS BY DR CLARKE
✅ Commended Zambia for its tremendous potential with abundant natural wealth.
✅ Expressed delight that the IMF is in partnership with the Zambian Government on its own homegrown reform program, which is designed to improve the Zambian economy to the benefit of the Zambian people.
✅ Meanwhile, As part of his three (3) day tour of duty, Dr. Clarke will call on the Republican President Mr. Hakainde Hichilema, and holding consultative and information exchange meetings with University of Zambia students, civil society, the private sector and other cooperating partners.
