Improved Creditworthiness: The upgrade suggests that Zambia is on a path toward better credit ratings, which can further enhance its financial standing and facilitate access to favorable financing terms. Support for Structural Reforms: The positive assessment from Moody's underscores the effectiveness of Zambia's ongoing economic reforms, including fiscal consolidation and efforts to diversify the economy. Continued progress in these areas can lead to long-term economic resilience. To further enhance Zambia's credit ratings and attract greater investment, several strategic actions are essential: 1. Accelerate Debt Reduction and Restructuring While Zambia has restructured approximately 90% of its debt, including agreements with major creditors like China and holders of Eurobonds, the remaining 10%—particularly private debts—requires swift and equitable restructuring.