Zambia: Third Review Under the Arrangement Under the Extended Credit Facility, Requests for Augmentation of Access, Modifications of the Monetary Policy Consultation Clause and of Quantitative Performance Criteria, and Financing Assurances Review—Press Release; Staff Report; and Statement by the Executive Director for Zambia
IMF Staff Country Reports, June 26, 2024
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- Zambia: Third Review Under the Arrangement Under the Extended Credit Facility, Requests for Augmentation of Access, Modifications of the Monetary Policy Consultation Clause and of Quantitative Performance Criteria, and Financing Assurances Review—Press Release; Staff Report; and Statement by the Executive Director for Zambia
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Bibliographic details
- Published: June 26, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400279997.002
Macro and monetary policy findings
- Recommend a tight monetary stance until inflation declines toward the Bank of Zambia’s target range to help anchor inflation expectations.
- Reserve accumulation and sustained exchange rate flexibility remain critical to address external shocks.
Fiscal, debt, and arrears management
- Authorities remain committed to:
- supporting macroeconomic stability;
- restoring fiscal and debt sustainability;
- clearing arrears.
- Subject tags: Arrears, Debt sustainability, Debt sustainability analysis, External debt, Public debt.
- Keywords: arrear accumulation, Arrears, budget support disbursement, containment effort, Debt sustainability, Debt sustainability analysis, fuel arrears, Global, liability management operation.
Financial sector and inclusion
- Financial sector reforms are important to foster financial stability and inclusion.
Governance, structural reforms, and investment climate
- Authorities focused on advancing structural and governance reforms to promote inclusive growth.
- Governance and structural reforms are key to promoting private sector activity and economic diversification.
- Specific governance recommendations to reduce policy uncertainty and attract investment:
- Implementing the Access-to-Information Act.
- Reviewing the Anti-Corruption Act in a timely manner.
- Enhancing transparency and governance in the energy and mining sectors.
Humanitarian and resilience considerations
- Authorities committed to addressing Zambia’s drought-related humanitarian needs.
Content in this bundle
- 1zmbea2024001-print-pdf