G20 Leaders’ Declaration Highlights Zambia’s Economic Progress
Zambia’s economic reforms and growing global engagement have been recognised in the G20 South Africa Summit Leaders’ Declaration, issued following the historic 2025 Summit held in Johannesburg from 22 to 23 November.
Hosted by President Cyril Ramaphosa under South Africa’s inaugural G20 Presidency, the Summit brought together leaders and representatives from G20 member states, the African Union and international organisations, marking the first time the global forum has convened on African soil.
The Declaration acknowledges Zambia as one of the newest members of the G20 Compact with Africa. The country joins the initiative as it enters its second phase, running from 2025 to 2033, supported by a World Bank Group multi-donor fund aimed at improving investment climates across participating nations.
Zambia is also recognised as one of four countries—alongside Chad, Ghana and Ethiopia—to have successfully completed debt treatment under the G20 Common Framework. This milestone represents a crucial step in addressing debt vulnerabilities across low- and middle-income economies.
The Leaders’ Declaration further notes that many developing countries continue to experience limited fiscal space and high financing costs, highlighting the importance of Zambia’s progress in restoring debt sustainability and stabilising its economic outlook.
Zambia’s inclusion in the Declaration signals the international community’s acknowledgment of the country’s reform agenda, strengthened economic governance and commitment to long-term stability.
Participation in the Compact with Africa and the completion of the Common Framework process position Zambia to attract increased investment and deepen its engagement in global economic cooperation.
This is according to a statement issued by Alexander Musokotwane, First Secretary – Press and Public Relations at the Zambia High Commission in Pretoria.
