Harry Kalaba, Zambian Foreign Affairs Minister

www.zambiaembassy.org

The Zambian government has consolidated the country’s macroeconomic stability under International Monetary Fund (IMF) programmes; the latest ended in 2011. Zambia successfully weathered the global economic crisis while reducing inflation from around 30% in 2000 to around 6.5% in 2012 and around 7% in 2013. Thanks to debt relief, Zambia has also boosted its foreign-exchange reserves. The African Development Bank (ADB) predicts that inflation in Zambia will remain under control over the next two years at least while the country’s GDP growth will continue.

Moreover, as a number of major mining projects come on stream in Zambia, the country’s growth rate should shoot up to an average 8.1% from 2014 to 2016, according to a recent study by advisory firm KPMG. this strong performance reflects the potential of the Zambian economy in many sectors. Mining is just the beginning.