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Zambia - Country Strategy Paper 2017-2021 combined with the 2017 Country Portfolio Performance Review

18-Sep-2017

The new Country Strategy was prepared between 2015 and 2017 when the Zambian economy faced some of its worst macroeconomic and fiscal challenges since the 1980’s. The 10-year period before 2011-12 was characterized by high growth averaging 7.4% per annum and large foreign direct investments into a mineral-driven copper economy. The overall fiscal performance reached a new low with a deficit of 10% of GDP in 2016. The Country Strategy preparation process started in 2015, but faced substantial slippages due to delays in the adoption of a new annotated format for the Bank’s Country Strategy Papers and a parallel process of finalising the evaluation of Country Strategies for Zambia between 2002 and 2015. The 2017-2021 Country Strategy framework and strategic pillars were finally endorsed by CODE on November 14th, 2016, in a meeting that also discussed the achievements and lessons from the previous CSP 2011-2015 and the Country Portfolio Performance Review. CODE members recommended during the meeting that within the pillars there was a need for greater selectivity, expansion of the macroeconomic and debt analysis, diversification of economic and energy sectors, and strong focus on sustainability.

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