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Victoria Falls, Zambia

Victoria Falls, Zambia (Picture by Jaamzp)

Zambia Resident Representative Site

Resident Representative Office in Zambia

April 8, 2015

This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Zambia and the IMF. Additional information can be found on Zambia and IMF country page, including official IMF reports and Executive Board documents in English that deal with Zambia.

News and Highlights


IMF Work Progresses on 2015 SDR Basket Review

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Zambia's Way Forward - Job Creation To Promote Inclusive Growth

Joint Conference with GRZ and its Cooperating Partners. Mulungushi Conference Center, Lusaka, November 24-25, 2014 click for more

Towards a New Growth Strategy for Employment, Decent Work and Development in Zambia

GRZ/ILO/IMF National Conference; New Government Complex; Lusaka, May 21-22 2012 click for more

IMF and ILO Hold Preliminary Discussions on Tripartite Social Dialogue with Zambian Government, Employers and Labour

Press Release; May 31, 2011 click for more

IMF Pledges Stronger Partnership to Help Africa Through Crisis

IMF head Dominique Strauss-Kahn, at the end of a trip to the Democratic Republic of Congo and Côte d’Ivoire, pledges a stronger partnership with African countries to prevent the global economic crisis undoing years of progress in their fight against poverty. click for more

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Zambia and The IMF

Evolving Banking Trends in Sub-Saharan Africa : Key Features and Challenges

September 16, 2015
Author/Editor: Mauro Mecagni ; Daniela Marchettini ; Rodolfo Maino
Series: African Departmental Paper No. 15/8
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Podcast : Sub-Saharan Africa Getting a Grip on Inflation

September 10, 2015
Inflation can determine a currency’s purchasing power as high inflation means rising prices. But what drives inflation differs from region to region. In this podcast we talk with Oral Williams, IMF Mission Chief for Malawi and coauthor of a new research paper that shows the drivers of inflation are changing in sub-Saharan Africa. click for more

Zambia: Technical Assistance Report-Towards an Integrated Legal Framework for Public Financial Management

September 3, 2015
Series: Country Report No. 15/240 click for more

Zambia : Staff Report for The 2015 Article IV Consultation

June 16, 2015
Series: Country Report No. 15/152 click for more

Zambia : Selected Issues

June 16, 2015
Series: Country Report No. 15/153 click for more

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Regional Economic Outlook for Sub-Saharan Africa

image from the publication cover

Sub-Saharan Africa's economy is set to register another year of solid growth, although the expansion will be at the lower end of the range registered in recent years, mainly reflecting the severe impact of the sharp decline in oil prices on the region's oil exporters. In a context of tightening global financial conditions, the large fiscal and current account deficits that prevail in some countries could leave them vulnerable to a potential reduction in external financing. An uneven global recovery and domestic security-related challenges are also risks to the outlook. Against this backdrop, and beyond the immediate effects of the current shock, further progress toward diversification and structural transformation remains crucial to sustain high and inclusive growth, generate jobs for the rapidly growing young population, and foster integration into global value chains. Click for more

Monitoring and Managing Fiscal Risks in the East African Community

Building Resilience in Sub-Saharan Africa's Fragile States

Monitoring and managing fiscal risks—defined as the possibility of deviations of fiscal outcomes from what was expected at the time of the budget or other forecast—are always key aspects of policymaking. Their importance in the East African Community (EAC, consisting of Burundi, Kenya, Rwanda, Tanzania and Uganda) is reinforced by the drive toward the East African Monetary Union (EAMU). Indeed, fiscal risks are unlikely to be fully captured by headline fiscal indicators—such as the deficit and debt of the government—that will serve as convergence criteria for the EAMU.

Toward a Monetary Union in the East African Community

Building Resilience in Sub-Saharan Africa's Fragile States

In late 2013 the East African Community (EAC) countries (Burundi, Kenya, Rwanda, Tanzania, and Uganda) signed a joint protocol setting out the process and convergence criteria for an EAC monetary union. The signing of the protocol represents a further step toward regional economic integration. It follows ratification of the protocols for a customs union (2005) and the common market (2010). Envisaged in 2024 is the introduction of a common currency to replace the national currencies of member countries.

Building Resilience in Sub-Saharan Africa's Fragile States

Building Resilience in Sub-Saharan Africa's Fragile States

Fragile states—states in which the government is unable to deliver basic services and security to the population—face severe and entrenched obstacles to economic and human development. While definitions of fragility and country circumstances differ, fragile states generally have a combination of weak and non-inclusive institutions, poor governance, low capacity, and constraints in pursuing a common national interest. As a result, these countries typically display an elevated risk of both political instability (including civil conflict), and economic instability (through a low level of public service provision, inadequate economic management, and difficulties to absorb or respond to shocks). Crises in such countries can also have significant adverse spillovers on other countries. In contrast, resilience can be defined as a condition where institutional strength, capacity, and social cohesion are sufficiently strong for the state to promote security and development and to respond effectively to shocks.

Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight

Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight

Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.

IMF Opens Africa Training Institute in Mauritius

Africa Training Institute (ATI) Logo

The International Monetary Fund (IMF) on June 26, 2014 opened the Africa Training Institute (ATI) in Ebene, Mauritius, adding an important regional center to a global network of centers helping to develop countries' policymaking capacity by transferring economic skills and best practices.