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Zambia Makes Positive Strides at IMF and World Bank Spring Meetings

The Zambian delegation, led by Finance Minister Dr. Situmbeko Musokotwane, had a fruitful first day at the International Monetary Fund (IMF) and World Bank Group’s 2024 Spring Meetings in Washington D.C. 

Dr. Musokotwane characterized the day as an opportunity for Zambia to showcase its investment potential to the Bretton Woods Institutions and the global community.

Positive developments were highlighted throughout the day. Zambia’s progress on debt restructuring received praise from IMF Managing Director Kristalina Georgieva and other officials.

The IMF encouraged Zambia to persevere on its path of economic transformation despite potential challenges. 

The US Treasury Department commended Zambia’s resilience and offered assistance in combating economic crimes.

Finally, the US Chamber of Commerce President for the US-Africa Business Center applauded Zambia’s leadership and economic performance.

Several productive meetings and discussions took place. The IMF-Zambia bilateral meeting centered on Zambia’s progress in debt restructuring and its ongoing economic transformation. 

The US-Zambia bilateral meeting addressed the remaining debt negotiations and the government’s efforts to secure additional resources. 

Lastly, the US Chamber of Commerce roundtable discussion focused on Zambia’s economic outlook and the investment opportunities it presents.

Looking ahead, Zambia aims to finalize the debt restructuring process with commercial creditors as soon as possible.

The government is actively seeking private sector investment in various sectors, including mining, agriculture, and digital infrastructure. 

Zambia remains committed to good governance and fostering a business-friendly environment.

In conclusion, the first day of the Spring Meetings proved positive for Zambia. International leaders acknowledged the country’s progress and expressed support for its economic development.

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