IMF Staff Country Reports

Zambia’s strong economic performance continues under the Extended Credit Facility arrangement. With a broadly unchanged macroeconomic outlook, the medium-term policy stance remains appropriate, but vigilance is warranted. The strengthening economy provides an opportunity for more rapid poverty reduction and employment creation. The fiscal program remains appropriate. As the government moves to tap the sovereign bond market, it will be important to strengthen debt and liquidity management capacity. Reforming the pricing and marketing system for maize remains critical. Executive Directors support the Bank of Zambia (BoZ)’s monetary policy tightening.