The IMF has also project inflation of around six percent for the country.
First Secretary for Press at the Zambian Embassy in Washington, Patricia Littiya in a statement says the IMF made the observations in a statement.
The IMF has also welcomed the introduction, by the Bank of Zambia, of the policy rate, as a first step toward modernizing the implementation of monetary policy and has also commended the Central bank for keeping inflation in check.
Meanwhile the IMF has welcomed the decisions the Zambian government has taken for the use of the Eurobond funds in 2012 and 2013.
The IMF says using the commercial financing to finance high priority spending including the repayment of a short-term debt to finance roads infrastrucure development reflects prudent fiscal management.