IMF completes staff visit to Zambia

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The International Monetary Fund (IMF) on Wednesday completed its high-level visit to Zambia with a commitment to discuss broad elements of the country’s economic recovery program.

Photo showing the logo of the International Monetary Fund. (Photo: Andrew Harrer/Bloomberg via Getty Images)

“We welcomed the opportunity to discuss the broad elements of the authorities’ Economic Recovery Program, which seeks to restore macroeconomic stability, attain fiscal and debt sustainability, restore growth and safeguard social sector spending,” a statement released by the international lender said.

It added that the IMF is looking forward to the presentation of the government’s homegrown economic strategy and will be assessing in the coming weeks how to support the government’s reform efforts through a possible Fund program.

According to the statement, policies would need to be calibrated to restore sustainability given the deep-rooted challenges the country faces.

The visit, led by IMF African Department Director Abebe Aemro Selassie, came after Zambia’s request for a financing agreement with the IMF.