LUBINDA HABAAZOKA CONFIDENT IN ZAMBIA’S ABILITY TO BE SELF-SUFFICIENT IN STEERING ECONOMIC TRANSFORMATION

LUBINDA HABAAZOKA CONFIDENT IN ZAMBIA’S ABILITY TO BE SELF-SUFFICIENT IN STEERING ECONOMIC TRANSFORMATION

ECONOMIST Dr. Lubinda Habaazoka says Zambia has the ability to be self-sufficient in steering economic transformation if government focuses on growth.

Dr. Habaazoka links this prospect to government’s decision not to extend the current International Monetary Fund supported Extended Credit Facility which began in 2022 and to move promptly from the sixth and final review into negotiations for a successor programme centered on growth, investment and job creation.

The current ECF, initially due to end in November 2025, was subject to a short technical extension and is now expected to conclude this month, with a staff-level agreement on the final review reported to be awaiting IMF Executive Board approval.

In an interview with Phoenix News, Dr. Habaazoka explains that the stabilization achieved under the ECF, notably progress on exchange rate management, inflation control and resumption of debt servicing, creates a platform from which a growth-focused programme can deliver lasting self-reliance.

He hopes the successor programme that prioritizes investment, productivity and job creation will substantially raise the country’s prospects if policies are implemented effectively.

PN