President of Zambia, Hakainde Hichilema has reaffirmed the country’s commitment to undertaking domestic economic reforms during a high-level meeting with an International Monetary Fund (IMF) mission led by Deputy Managing Director Mr. Nigel Clarke.
The discussions focused on Zambia’s economic direction and collaboration with the IMF.
President Hichilema stressed that, while Zambia valued its relationship with the IMF, the country’s economic initiatives are designed internally and represent national goals.
“Our economic programs are home-grown and rooted in Zambia’s own priorities. We engage with the IMF as equal partners,” President Hichilema stated.
Mr. Clarke commended Zambia’s reform initiatives, noting the country’s resilience in the face of economic challenges. “Zambia’s commitment to its reform agenda is commendable. The IMF stands ready to support Zambia in achieving its economic objectives,” he said.
Recent economic indicators highlight both progress and ongoing challenges.
The Zambia Statistics Agency reported that the annual inflation rate rose to 16.8% in February 2025, up from 16.7% in January, primarily driven by increases in food prices .
Despite this, the government projects a significant economic rebound, targeting a 6.6% growth rate in 2025, up from the 2.3% forecast for 2024 .
President Hichilema reaffirmed the government’s commitment to transparency, resilience, and inclusive growth, aiming to ensure that economic advancements benefit all Zambians.
