• The International Monetary Fund (IMF) has granted Zambia a three-month extension for its Extended Credit Facility (ECF) program, pushing the deadline to January 30, 2026.
• The extension allows Zambia time to complete the ECF's sixth review and lay groundwork for future program engagement, following Lusaka's request for a 12-month extension in July.
• The ECF program, initially $1.3 billion and later increased to $1.7 billion, aims for macroeconomic stability, debt sustainability, strengthened governance, and inclusive growth.

Zambia's economic program, overseen by the International Monetary Fund (IMF), will extend by three additional months. The institution announced this on September 15, 2025.

This decision moves the program's deadline to January 30, 2026. It aims to provide the Zambian government "sufficient time to complete the Sixth Review of the ECF Arrangement and lay the groundwork for future program engagement," the IMF emphasized.

This extension follows Lusaka's request last July to prolong its financial program by twelve months. The program was initially set to expire at the end of October 2025. The objective is to consolidate gains made during the program period through 2026 and support economic reforms.

The IMF's executive board approved a $1.3 billion ECF program for the country in August 2022. The total amount later increased to $1.7 billion in June 2024. To date, Zambia has received approximately $1.55 billion.

The ECF agreement seeks to consolidate macroeconomic stability, restore debt and fiscal sustainability, strengthen public governance, and foster inclusive growth to improve the livelihoods of the Zambian people.

For 2025, the IMF anticipates 5.8% growth. This forecast attributes to a continued recovery in agricultural production and sustained strong performance in the mining and services sectors. Regarding public debt, the institution considers it remains sustainable. However, the country remains exposed to a high risk of overall and external debt distress.

This article was initially published in French by Lydie Mobio

Adapted in English by Ange Jason Quenum