The latest IMF Finance & Development Magazine identifies eight sub-Saharan African countries (excluding RSA) as "emerging" economies based on a three set criteria : i) Has there been a take off in growth ? ii) Is that growth led by the private sector, and has public policy embraced market-led growth? and iii) Are there financial markets in which to invest? Zambia is among the eight. The conclusion as shown above shows that these new African "emerging markets" measure up favorably with first generation emerging markets.