IMF Director Urges Zambia to Maintain Economic Momentum Amidst Climate Challenges
During a meeting in Washington DC, IMF Managing Director Kristalina Georgieva underscored the importance for Zambia to sustain its economic transformation despite short-term setbacks caused by drought and climate change.
Georgieva commended the country’s policy reforms, acknowledging them as driving forces for progress. She also praised Zambia’s recent deal with bondholders as a significant milestone in its economic recovery.
Finance Minister Situmbeko Musokotwane expressed gratitude to the IMF for its support during economic challenges, emphasizing President Hichilema’s commitment to Zambia’s economic transformation.
Musokotwane highlighted Zambia’s 5% annual GDP growth in the fourth quarter of 2023 and appealed for continued assistance from the IMF.
At a separate meeting hosted by the US Chamber of Commerce, Kendra Geither, President of the US-Africa Business Centre, emphasized the crucial role of effective leadership in making Zambia an attractive destination for investment.
She commended Zambia’s resilience amidst global economic struggles and highlighted the debt restructuring deal as a foundation for further progress.
