Zambia’s Delegation Embarks on Strategic Engagements at the 2024 IMF/World Bank Annual Meetings in Washington DC
Zambia’s Finance and National Planning Minister, Dr. Situmbeko Musokotwane, is leading a high-level delegation to the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, currently underway in Washington DC.
The delegation, which includes Secretary to the Treasury Felix Nkulukusa, Bank of Zambia Governor Dr. Denny Kalyalya, and Zambia Revenue Authority Commissioner General Dingani Banda, is set to engage global partners on Zambia’s economic resilience and investment opportunities.
In a statement, Dr. Musokotwane emphasized Zambia’s focus on bolstering its economy through key sectors such as mining, agriculture, tourism, and manufacturing, while aggressively promoting infrastructure development via Public Private Partnerships (PPPs).
He underscored the importance of deepening ties with development partners and investors to access opportunities that can fuel Zambia’s path to economic recovery.
“We need to look at our country’s strengths as we explore impactful development cooperation and investment prospects,” said Dr. Musokotwane. “This year has been particularly challenging due to the unprecedented drought, which has strengthened our resolve to work together as a united nation. By prioritizing our strengths, we can consolidate positive gains and ensure no Zambian is left behind.”
The Zambian delegation’s agenda includes participation in key IMF and World Bank events, such as the African Consultative Group Meeting with IMF Managing Director Kristalina Georgieva and discussions with World Bank Group President Ajay Banga. Bilateral talks with development partners and investor seminars are also planned.
Zambia’s economic reforms and ongoing debt restructuring efforts are gaining international recognition. Dr. Musokotwane highlighted Zambia’s rising leadership credentials, pointing to the recent selection of Dr. Samuel Munzele Maimbo as the SADC candidate for the African Development Bank Presidency, which will be contested in May 2025.
Throughout the week-long meetings, Zambia’s delegation will engage in various consultations with IMF and World Bank officials, including discussions on fiscal affairs and investment guarantees. These interactions are expected to strengthen Zambia’s global standing as it navigates economic recovery and future growth.
Dr. Musokotwane’s delegation was welcomed to Washington DC by Zambia’s Ambassador to the United States, Dr. Chibamba Kanyama, marking the start of a crucial week of engagements aimed at securing Zambia’s prosperous future.
