ZAMBIA SET TO SECURE $190 MILLION IMF DISBURSEMENT PENDING BOARD APPROVAL
ZAMBIA is set to receive a disbursement of about 190 million US dollars from the International Monetary Fund following a staff-level agreement on policies to complete the sixth and final review of the country’s 38-month Extended Credit Facility arrangement.
The disbursement, subject to approval by the IMF Executive Board, will bring Zambia’s total receipts under the program to approximately 1.7 billion US dollars since August 2022.
IMF Mission Chief for Zambia, Mercedes Vera-Martin, commended the government for restoring macroeconomic stability and building buffers that have strengthened resilience against shocks. She noted significant progress in eliminating macroeconomic imbalances, rebuilding reserves, and advancing reforms aimed at economic transformation.
Ms. Vera-Martin highlighted that Zambia has reached agreement on most of its external debt restructuring perimeter and has undertaken sustained fiscal consolidation while safeguarding social spending. She added that the economy expanded in the first half of 2025, with real GDP growth projected at 5.2 percent, despite lower-than-expected mining and retail trade performance.
An IMF team led by Ms. Vera-Martin visited Lusaka from October 22 to November 4, 2025, engaging with Finance Minister Situmbeko Musokotwane, Bank of Zambia Governor Denny Kalyalya, Secretary to the Treasury Felix Nkulukusa, Deputy Governor Francis Chipimo, senior government officials, and representatives of the private sector, civil society, and development partners.
ZNBC