International Monetary Fund – IMF Resident Representative for Zambia, Eric Lautier, says Zambian authorities are making notable strides in transforming the economy, despite challenges.
Mr Lautier said the effects of drought in Zambia have been severe, affecting nearly 4.8 million people.
He said to address the pressing issue, the Economics Association of Zambia – EAZ will host the 2024 Economic Summit on July 25th and 26th at Ciela Resort in Chongwe District, Lusaka.
The IMF Representative for Zambia said during the summit, stakeholders will analyze strategies to navigate the disaster and foster economic resilience.
He said the Economic Summit serves as a vital platform for collaboration between the government, industry players, and other stakeholders, demonstrating their commitment to overcoming economic challenges.
He said the theme of this year’s summit is “Pioneering Zambia’s Sustainable Economic Transformation through Climate Change Adaptation and Sustainable Financing Mechanisms after Debt Restructuring.”
“I am pleased to invite you to the Economic Summit organised by Economics Association of Zambia – EAZ to discuss the critical topic of navigating Zambia’s sustainable economic transformation. As you know, Zambia is currently grappling with a severe drought issue that has significantly impacted agriculture, electricity generation, and overall economic activity. Preliminary estimates suggest that about 4.8 million population have been affected,” he said.
Mr Lautier said the country now faces external financing to bridge food and energy deficit alongside fiscal gaps to form humanitarian responses, scale up Social Cash Transfer and other economic recovery interventions.
“Despite these challenges, Zambian authorities are making notable strides in transforming the economy,” he said.
He said Zambian authorities remain committed to the reform agenda under the 8th National Development Plan which is supported by the Extended Credit Facility of the IMF.
This is contained in a statement issued by Economics Association of Zambia – EAZ Acting Chief Executive Officer Tendai Posiana.
