IMF: Zambia’s Economy Shows Greater Resilience Than Expected in 2024

The International Monetary Fund (IMF) says Zambia’s economy has shown greater resilience than previously anticipated in 2024.

The IMF says this has been supported by stronger-than-projected performance in both the mining and non-mining sectors.

The observation follows an IMF staff team visit to Zambia from February 19-25, 2025, as part of the Fund’s ongoing engagement with the Zambian authorities and other stakeholders.

The team, led by IMF Mission Chief for Zambia Mercedes Vera-Martin, 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.

At the conclusion of the visit, Mrs. Vera-Martin noted that the staff team took stock of the government’s progress in meeting key commitments under the IMF-supported programme.

She said the efforts will be formally assessed in the context of the fifth review of the Extended Credit Facility arrangement, which is expected to be initiated with a mission in early May this year.

This is according to a statement issued by the IMF Communications Department