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HomeBusinessIMF/World bank spring meetings a success - Musokotwane

IMF/World bank spring meetings a success – Musokotwane

By Felix Katyetye

The recently concluded Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) held in Washington DC, United States of America, have been lauded as highly successful for Zambia.

Finance and National Planning Minister Dr. Situmbeko Musokotwane, attributed this success to the fruitful engagements of the Zambian delegation with various development partners.

Accompanied by a high-level delegation including Secretary to the Treasury Felix Nkulukusa, Bank of Zambia Governor Dr. Denny Kalyalya, and other key officials, Dr. Musokotwane participated in several key discussions focusing on Zambia’s economic transformation programme and aspirations post-debt restructuring.

“The Zambian delegation’s participation extended beyond the main events of the Spring Meetings, with representation in associated engagements such as the Global Parliamentary Forum and other sideline meetings,” the Minister said.

At the 49th meeting of the IMF Committee (IMFC), Zambia acknowledged the global economic resilience and emphasized its own policy objectives including macro-economic stability and inclusive growth. The country expressed support for the IMF’s focus on country-specific advice and structural reforms to boost productivity and promote sustainability.

Zambia also reaffirmed its commitment to addressing debt challenges under the G20 Common Framework, with ongoing participation in the Global Sovereign Debt Roundtable.

‘’During the World Bank Group Development Committee meeting, we echoed the call for global collaboration to ensure sustainable development and poverty alleviation. The country endorsed measures to enhance operational efficiency and effectiveness, including streamlined processes and strengthened capacity for implementation,” he said

Dr. Musokotwane further conveyed Zambia’s appreciation for the IMF’s support during difficult times and welcomed the recent selection of Kristalina Georgieva for a second term as IMF Managing Director.

The success of the IMF/WBG Spring Meetings underscores Zambia’s commitment to economic stability, growth, and collaboration on the global stage.

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