Zambia enters IMF talks for successor economic program

The Zambian government has entered discussions with an International Monetary Fund (IMF) mission to establish a successor program under the Extended Credit Facility (ECF). This follows the conclusion of a previous 38-month arrangement in January 2026, which provided approximately $1.7 billion in total support.

The current IMF mission, led by Mission Chief Edward Gemayel, is scheduled to remain in Lusaka until October 10. Discussions involve the Ministry of Finance and National Planning, the Bank of Zambia, and the Zambia Revenue Authority. The talks will focus on economic and structural policy issues, including the 2027 National Budget and the 2027–2029 Medium-Term Budget Plan.

The proposed successor program aims to build on restored macroeconomic stability while prioritizing private-sector-led growth, export diversification, and job creation. The Zambian government is also targeting an average growth rate of 7% over the next three years, supported by anticipated recoveries in copper prices, mining production, and agricultural activity.