The government has started discussions with the International Monetary Fund—IMF—on a successor programme under the Extended Credit Facility.
The discussions are aimed at building on macroeconomic stability achieved under the previous programme while supporting investment, exports, economic diversification, and job creation.
IMF Mission Chief Edward Gemayel is leading the mission, which will continue until October 10, 2026.
The mission has met Finance and National Planning Minister Dr Situmbeko Musokotwane and senior ministry officials in Lusaka.
The IMF will also engage the Bank of Zambia, Zambia Revenue Authority, and other public institutions on economic and structural policies, including the 2027 National Budget and the 2027 to 2029 Medium-Term Budget Plan.
Dr. Musokotwane says the next phase of economic management will maintain fiscal and macroeconomic stability, but with greater focus on growth, investment and employment.
He says the Government’s growth strategy will focus on export-led growth, foreign direct investment, human capital development, and a stronger regulatory and governance environment.
Dr Musokotwane says Zambia must also attract more investment and strengthen skills development to address unemployment, particularly among young people.
The 38-month IMF-supported Extended Credit Facility, approved in August 2022, concluded in January 2026 after six reviews.
The programme provided Zambia with about 1.7 billion U.S. dollars in total financing and supported the country’s macroeconomic stability.
The IMF says the proposed successor programme will seek to preserve macroeconomic stability and debt sustainability while supporting private-sector investment, exports, diversification, jobs and sustainable growth.
By Rachel Mumba
