Zambia: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Zambia
IMF Staff Country Reports, January 30, 2008
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- Zambia: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Zambia
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Bibliographic details
- Published: January 30, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451841343.002
Macroeconomic performance and drivers
- The Zambian economy "has performed well owing to its strong macroeconomic policies, high copper export prices, and extensive debt relief."
- Commendations by Executive Directors:
- Tight monetary policy and fiscal stances.
- Revenue reforms.
- Efforts to strengthen debt management.
- Financial sector reforms.
- Trade regime reforms to accelerate export development.
Poverty reduction and development priorities
- Executive Directors encouraged the authorities to:
- Reduce poverty and attain the Millennium Development Goals (MDGs) under the Fifth National Development Plan (FNDP).
- Improve budget execution.
- Create fiscal space for increased spending on infrastructure and social sectors.
Policy recommendations and emphasis
- Fiscal policy:
- Continue tight fiscal stance while improving budget execution to free resources for infrastructure and social spending.
- Monetary policy:
- Maintain tight monetary policy consistent with macroeconomic stability.
- Revenue and debt management:
- Sustain revenue reforms and efforts to strengthen debt management to preserve fiscal sustainability.
- Structural reforms:
- Continue financial sector reforms.
- Advance trade regime reforms to support export development.
International Monetary Fund. "Zambia: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Zambia" (IMF Staff Country Reports 2008, 041).