IMF Staff Concludes Visit to Zambia
IMF News, December 8, 2022
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- IMF Staff Concludes Visit to Zambia
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Bibliographic details
- Published: December 8, 2022
Visit overview
- Press Release No. 22/420
- Location and timing: Lusaka, from November 30 to December 7, 2022
- Mission type: IMF staff visit; End-of-Mission press release conveying preliminary findings
- Governance note: "The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion."
Mission leadership and contacts
- Mission Chief for Zambia: Ms. Allison Holland
- IMF Communications Department — MEDIA RELATIONS
- PRESS OFFICER: Nicolas Mombrial
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Twitter: @IMFSpokesperson
Key findings and assessment
- Macroeconomic and financial sector developments discussed during the visit.
- Macroeconomic resilience:
- "Against an increasingly challenging global economic backdrop, the Zambian economy appears to have remained relatively resilient and inflation has remained in single digits for longer than expected."
- Program implementation:
- IMF staff "took stock of the authorities’ promising progress in meeting key commitments under the Fund-supported program."
- Formal assessment timing: "This will be formally assessed in the context of the first review of the Extended Credit Facility arrangement, which is expected to be undertaken in Spring 2023."
Debt restructuring and recommendations
- Debt talks status:
- Staff "discussed progress on debt restructuring talks, noting the ongoing discussions with creditors on resolving technical issues."
- Policy emphasis:
- "Achieving timely restructuring agreements with external creditors is essential to secure the expected benefits of the Fund-supported program."
Stakeholders met
- The team met with:
- President Hakainde Hichilema
- Minister of Finance and National Planning Situmbeko Musokotwane
- Minister of Green Economy and Environment Collins Nzovu
- Senior government officials
- Members of the private sector
- CSOs and development partners
Closing remarks from the mission chief
- Ms. Allison Holland: "I would like to thank the authorities for the open and collaborative discussions and look forward to our continued close engagement."
IMF Staff press statement (December 8, 2022).