Zambia secures IMF staff-level backing for new $1.5 billion programme
TLT•The IMF reached a staff-level agreement with Zambia on a three-year Extended Credit Facility worth about $1.5 billion. Executive Board approval is expected around December, with disbursements every six months.
1. Proposed IMF programme
The IMF said it reached a staff-level agreement with Zambia on a new Extended Credit Facility worth about $1.5 billion, or 1,076 million Special Drawing Rights. The programme aims to preserve macroeconomic stability, strengthen economic resilience and support the country’s growth ambitions.
2. Approval and outlook
Executive Board approval is expected around December, and disbursements would be made every six months over the facility’s three-year duration. The IMF forecast Zambia’s economic growth at 5.6% in 2026, supported by agriculture, mining and exports.
3. Fiscal position and bonds
The agreement comes as Zambia prepares its 2027 budget; the finance ministry said government spending is projected to rise 7%. The IMF said the fiscal position had weakened because of lower-than-expected revenue and higher-than-budgeted spending by the Food Reserve Agency. Zambia’s 2033 eurobond bids rose to 95.82 cents on the dollar.
