Zambia’s government has asked its external creditors to provide debt relief amounting to $8.4 billion for the period 2022-25, the International Monetary Fund said Tuesday.
The IMF program published Tuesday is the first time the fund provides details on the level of debt relief it has asked Zambia to negotiate as a precondition for a $1.3 billion bailout its board approved last week.
The IMF said “some additional debt relief” was also needed for the period 2026-31, without giving details.
Zambia’s overall public debt stood at 126% of GDP last year and was expected to decline to 104.7% by the end of 2025, the IMF said.