The International Monetary Fund’s Executive Board has approved the final review of Zambia’s lending programme, unlocking an immediate disbursement of about $190 million under the Extended Credit Facility. The approval, reported by Reuters, brings Zambia’s 38-month IMF programme to a close and marks a key milestone in the country’s economic reform efforts.
The IMF said the programme, which was initially agreed in 2022 and later expanded to about $1.7 billion, supported fiscal consolidation, debt restructuring and macroeconomic stabilization. Completion of the final review allows Zambia to access SDR 138.9 million, bringing total disbursements under the arrangement to roughly $1.7 billion, according to the IMF.
“Zambia has made strong progress in restoring macroeconomic stability and advancing key reforms,” IMF Deputy Managing Director Nigel Clarke said, as quoted by Reuters. He added that the authorities had maintained fiscal discipline while protecting priority social spending despite a challenging global environment.
Zambian officials said the government would not seek to extend the programme beyond this final review, shifting focus toward sustaining reforms and supporting private-sector-led growth. Analysts cited by Reuters said continued progress will depend on prudent fiscal management, successful debt restructuring and policies that strengthen economic resilience.
