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Zambia’s economy demonstrated greater resilience than anticipated in 2024, driven by stronger-than-expected performance in both the mining and non-mining sectors, according to the International Monetary Fund (IMF).
Following a staff mission to Zambia from February 19-25, 2025, IMF mission chief, Mercedes Vera Martin, stated that discussions with authorities focused on recent macroeconomic developments and the country’s economic outlook.
“The mission team engaged with the Zambian authorities on recent macroeconomic developments and the economic outlook. Encouragingly, the Zambian economy has shown greater resilience than previously anticipated in 2024, supported by stronger-than-projected performance in both the mining and non-mining sectors,” Vera Martin said.
Read more: IMF projects Zambia’s GDP growth for 2025 at 6.6 percent
She further noted that the IMF team reviewed Zambia’s progress in meeting key commitments under the IMF-supported programme, with a formal assessment set for the fifth review of the Extended Credit Facility (ECF) arrangement in early May 2025.
“During this visit, IMF staff held discussions with Finance Minister Situmbeko Musokotwane, Bank of Zambia Governor Denny Kalyalya, and their teams, as well as representatives from various government agencies and other key stakeholders,” she added.
The IMF team expressed gratitude to Zambian authorities and stakeholders for their constructive engagement and support throughout the mission.
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