Zambia and the IMF have agreed to increase IMF support from about USD 1.3 bln to USD 1.7 bln in SDR. Due to drought, Zambia’s 2024 economic outlook worsened, lowering GDP growth to 2.3%. Agriculture is projected to decline by 19%. Despite a high inflation rate of 14.7%, the medium-term outlook is bolstered by mining production and improved debt sustainability.