By Jane Chanda
Finance and National Planning Minister Dr. Situmbeko Musokotwane has expressed optimism about Zambia’s economic prospects, citing the recent upgrade of the country’s outlook from negative to positive by Moody’s Rating Agency.
Dr. Musokotwane is currently in Washington DC for the 2025 Spring Meetings of the International Monetary Fund and the World Bank Group.
In a statement yesterday, the Minister attributed the upgrade to the government’s sustained efforts towards economic transformation, debt restructuring, and improvements in the business environment.
He emphasised that this development was not only beneficial for the government but also for the private sector, whose credit rating was impacted by the government’s rating and borrowing behavior.
Dr. Musokotwane highlighted the government’s commitment towards maintaining Zambia’s character as a top attractive investment destination and noted that the country was open for business and willing to partner with foreign investors to promote investments in key sectors such including mining, agriculture, tourism, and manufacturing.
“Despite facing challenges such as infrastructure deficits along key trade routes … the government is committed to debt sustainability and is working to address these challenges through Public Private Partnerships (PPPs),” Dr Musokotwane stated, and mentioned specific routes that require attention, including Serenje to Nakonde, Mpika through Kasama to Mbala, and Kazungula to Sesheke.
During the Spring Meetings, Dr. Musokotwane and his delegation would engage with development partners, investors, and the global community to scale up investment actualisation and explore opportunities that will contribute to sustaining Zambia’s economic recovery and growth.
He stated that the delegation would participate in various statutory events, including the African Consultative Group Meeting with the IMF Managing Director and the World Bank Group President. They will also hold discussions with the IMF African Department and conduct consultative sessions with the IMF Mission Chief for Zambia.
Dr. Musokotwane stated that the Spring Meetings were crucial for strengthening development cooperation, benchmarking best practices, and showcasing Zambia’s attractiveness as an investment destination. He sees this as an opportunity for Zambia to market its investment potential and natural resource endowments to the global community.
