Zambia’s Minister of Finance and National Planning, Dr Situmbeko Musokotwane, has reaffirmed the country’s steady economic growth trajectory, crediting the successful implementation of a comprehensive economic reform programme initiated by the government.
Speaking during a meeting with International Monetary Fund (IMF) Deputy Managing Director Dr Nigel Clarke at the Ministry of Finance on Monday, Dr Musokotwane highlighted Zambia’s transformation from an economy once plagued by unsustainable debt and stagnation to one that is now on a path of recovery and resilience.
“The economy was in a dire state four years ago,” Dr Musokotwane stated. “There was no growth and debt levels were spiraling out of control. But with the support of our partners, particularly the IMF, and the determination of this government to stay the course on reforms, we have seen consistent progress.”
Zambia has been implementing a bold economic reform agenda focused on fiscal discipline, improved public financial management, and debt restructuring—all aimed at stabilizing the macroeconomic environment and restoring investor confidence. The programme is backed by an IMF-supported Extended Credit Facility, which has provided both financial and technical assistance to the country.
Dr Musokotwane expressed gratitude to the IMF for its continued support and partnership, noting that the reforms were beginning to yield tangible results, including increased investor interest, improved public revenue performance, and more sustainable debt practices.
“It is a pleasure to welcome Dr Nigel Clarke to Zambia,” he added. “We value this opportunity to share the strides we’ve made and to reaffirm our commitment to staying the course. I hope that you will enjoy your stay during this important visit.”
In his remarks, Dr Clarke acknowledged the Zambian government’s efforts and reiterated the IMF’s commitment to supporting countries that are actively pursuing economic reform with discipline and transparency.
Analysts have observed that Zambia’s commitment to restructuring debt and improving governance in the management of public resources has begun to restore credibility in the international financial community. Key indicators such as GDP growth, inflation control, and foreign direct investment inflows have shown signs of recovery since the reforms began.
With general elections behind and political stability in place, the Zambian government is now focused on inclusive economic growth, prioritizing investments in infrastructure, health, education, and the private sector to ensure long-term development.
As Zambia continues to navigate its economic recovery path, experts believe that the sustained implementation of its reform agenda, coupled with strong international partnerships, will be critical in cementing the gains made and securing a prosperous future.