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