## IMF Staff Concludes Visit to Zambia

_IMF News, December 8, 2022_

## Source details

**Canonical URL:** [IMF Staff Concludes Visit to Zambia](https://www.imf.org/en/news/articles/2022/12/08/pr22420-imf-staff-concludes-visit-to-zambia)

## Other formats

- [Markdown version](/en/news/articles/2022/12/08/pr22420-imf-staff-concludes-visit-to-zambia/index.md)
- [Structured JSON version](/en/news/articles/2022/12/08/pr22420-imf-staff-concludes-visit-to-zambia/index.json)
- [Bundle manifest](/en/news/articles/2022/12/08/pr22420-imf-staff-concludes-visit-to-zambia/bundle-manifest.json)

## 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).*

---


## References

- [Zambia and the IMF](http://www.imf.org/external/country/ZMB/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [the Fund-supported program](https://www.imf.org/en/Publications/CR/Issues/2022/09/06/Zambia-Request-for-an-Arrangement-Under-the-Extended-Credit-Facility-Press-Release-Staff-523196)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2022/12/08/pr22420-imf-staff-concludes-visit-to-zambia_