The G20 Leaders’ Declaration released in South Africa has recognised Zambia as one of the newest members of the Compact with Africa, noting reforms undertaken by Compact partners to enhance their investment climate.
The leaders’ declaration commends the South African G20 Presidency for strengthening the Compact through the launch of its second phase (2025–2033), supported by a World Bank multi-donor fund.
Zambia is also listed among the four countries that have received debt treatment under the Common Framework, alongside Chad, Ghana, and Ethiopia.
The declaration has welcomed the recent progress made under the framework five years after its creation.
The G20 has further noted that many low- and middle-income countries continue to face high financing costs, large external refinancing needs, and outflows of private capital, which can limit fiscal space and development capacity.
By Best Jere
