GOVERNMENT EXTENDS IMF PROGRAMME BY ONE YEAR TO CONSOLIDATE ECONOMIC RECOVERY
Government has extended the International Monetary Fund (IMF) supported economic reform program by one year, stating that this decision is essential to maintain confidence among lenders, investors, and development partners as Zambia recovers from its debt crisis.
Finance and National Planning Minister Dr. Situmbeko Musokotwane, at a media briefing today, underscored the importance of preserving the progress achieved under the program since 2022.
He emphasized that the continued involvement of the IMF reassures both external and domestic creditors that Zambia is dedicated to prudent financial management and reform.
Mr. Musokotwane says the extension will unlock an additional US$145 million in IMF funding and protect over K4 billion in donor support intended for the 2026 national budget.
The Minister further noted that while progress has been made in restructuring external debt, the country is now facing increasing pressure from maturing domestic debt instruments such as treasury bills and bonds.
CHANDA MWANGO