Zambia’s GDP to fall to 2.9 pct in 2020, Possible higher inflation above 12 pct: IMF

Zambia’s economic growth will fall to 2.9 percent next year from the 3.1 targeted for this year, according to the International Monetary Fund.

In its annual World Economic Report released on April 9 at the ongoing Springs Meeting in Washington DC, the Fund also see higher inflation above 10 percent by the completion of 2019.

It projects that inflation will jump to 12 percent in 2020 after closing at 10.7 this year. And the IMF says the global economy is slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus measures.

The Report pointed to the US-China trade war and a potentially disorderly British exit from the European Union as key risks and warned that chances of further cuts to the outlook were high. Some major economies, including China and Germany, might need to take short-term actions, the International Monetary Fund said, Lusaka Times reported.

“This is a delicate moment for the global economy,” International Monetary Fund’s chief economist Gita Gopinath said in a news conference while discussing the report.

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