IMF lowers Zambia's 2024 growth forecast to 2.3% due to severe drought impacting agriculture and electricity.
The International Monetary Fund (IMF) reduced Zambia's 2024 economic growth forecast from 4.7% to 2.3% due to the ongoing worst drought in over four decades, affecting agriculture and electricity production. The drought adds to the economic strain from the prolonged debt-restructuring process. The IMF team visited Lusaka to discuss policies for the third review of Zambia's economic program, aimed at unlocking a $180 million funding tranche.
May 09, 2024
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