Skip to content
Subscriber Only

Zambia Invites IMF for Talks as Kwacha Extends Record Rout

  • Currency has lost more than half its value this year
  • IMF team heading to Lusaka to discuss economic challenges
Updated on

A team from the International Monetary Fund will arrive in Zambia on Wednesday to discuss “challenges” facing the southern African nation, buffeted by the kwacha’s record slump as a drought, electricity shortage and falling copper revenue weigh on government finances.

The IMF staff team will visit the country “at the invitation of the authorities and as part of the ongoing dialogue,” Tobias Rasmussen, the Washington-based lender’s resident representative in the capital, Lusaka, said in an e-mailed response to questions on Tuesday. It will “review recent economic developments and discuss with the authorities their policy responses to the macro-economic challenges currently facing the country,” he said.