World Bank Praises Zambia’s Economic Reforms

The World Bank Group has commended Zambia for its economic turnaround, with Managing Director for Operations Anna Bjerde highlighting the country's success during a Monday meeting with Minister of Finance and National Planning Situmbeko Musokotwane.

Ms. Bjerde acknowledged Zambia's impressive strides in stabilizing the macro-economic environment under the New Dawn administration. "Zambia is really acknowledged for having stabilized the macro-economic position of the country," she noted, adding that the international community has observed growing confidence from both investors and market participants as the country maintains its reform trajectory during challenging times.

The World Bank official praised Zambia's strategic approach to debt restructuring, which has proven instrumental in unlocking the country's economic potential. The government has successfully navigated complex negotiations to reach an agreement that addresses the burden of unsustainable debt obligations.

With the debt restructuring process now 94% complete according to government figures, this landmark achievement is expected to restore investor confidence and create substantial fiscal space. The freed-up resources will enable increased investment in critical development priorities, including healthcare, education, and infrastructure—sectors vital to improving the lives of ordinary Zambians.

Looking ahead, the economic outlook remains encouraging. GDP growth is projected to average approximately 6% over the next three years, signalling sustained momentum in the country's recovery and development trajectory.