By Staff Reporter
Finance minister Dr Situmbeko Musokotwane has expressed pleasure that the IMF board has approved the review and continues to recognise the progress Zambia is making.
Speaking after the IMF’s approval of the fifth assessment of Zambia’s Extended Credit Facility (ECF) Programme by the executive board of IMF which has resulted in the disbursement of US$184 million to Zambia, Dr Muskotwane said this was testament to the steadfastness and commitment to boosting the economy.
“Our currency, the Kwacha, has been showing its strongest performance since 2021. Our growth of 4% in 2024 has surpassed expectations and growth in 2025 is projected to outperform global projections despite micro-financial instability. We are investing in human capital and building roads, infrastructure, schools and hospitals. All of these efforts will yield results over time,” Dr Musokotwane said. “The government will continue to focus on domestic revenue mobilisation, prudent public finance management and social development. We remain fully committed to implementing reforms in the energy sector in order to reduce inefficiencies and facilitate further economic growth.”
He stated that the IMF’s approval reconfirmed the commitment of the government to transformational economic reforms, and further raised the confidence of both domestic and international investors. He stated that this in turn was anticipated to accelerate foreign direct investment inflows, especially in view of the IMF’s assessment that the country’s debt was sustainable.
