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Africa · Economy · Zambia Source-checked
An IMF mission is in Lusaka until 10 October to discuss a successor to Zambia's Extended Credit Facility, with the 2027 budget on the agenda.
Zambia has started talks with the International Monetary Fund on a new programme to follow its earlier Extended Credit Facility. Both Mwebantu and Zambia Monitor report that an IMF mission led by mission chief Edward Gemayel is in Lusaka, and that the engagements run until 10 October 2026.
The mission held an opening meeting with Finance and National Planning Minister Situmbeko Musokotwane and senior ministry officials. It is expected to meet the Ministry of Finance and National Planning, the Bank of Zambia, the Zambia Revenue Authority and other public bodies. The discussions are about economic and structural policies that could support the new programme, and they will also look at the 2027 national budget and the 2027 to 2029 medium-term budget plan.
Mr Gemayel said the new programme would help protect the economic and debt stability reached under the earlier arrangement. He said it would also fit with the government’s Grow Zambia agenda, which aims to support private investment, exports, diversification and jobs.
Both outlets give the same background. The earlier 38-month facility was approved in August 2022 at 978.2 million Special Drawing Rights, about US$1.3 billion. It ended on 27 January 2026 after six reviews. The last payment of 138.9 million Special Drawing Rights, about US$190 million, brought total access to about US$1.7 billion.
Mr Musokotwane said the focus for the next five years will be to keep fiscal and macroeconomic stability, with more emphasis on growth. He said youth unemployment is still a major challenge, which makes investment and steady growth important. He added that the government will reach out to investors to explain the opportunities in Zambia. Mwebantu says he named four pillars for growth: export-led growth, foreign direct investment, human capital development, and a stronger regulatory and governance environment.
No new programme has been agreed yet. These are opening talks, and the size, length and terms of any new arrangement have not been announced in the reports we read.
An IMF programme can affect government borrowing, investor confidence and the budget choices that shape jobs and prices.
No programme size, length or conditions have been announced. The figures come from the ministry statement as carried by the two outlets and were not checked against an IMF page.
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