Zambia has formally requested a new programme with the International Monetary Fund (IMF) as it moves beyond its current Extended Credit Facility arrangement and seeks continued policy support. An IMF mission is scheduled to visit Lusaka from February 25 to March 4 to begin formal discussions, Treasury Secretary Felix Nkulukusa told Reuters.
Nkulukusa said the government opted for a full successor programme rather than a short extension of the existing facility, signalling Lusaka’s intention to sustain reform momentum while shifting focus toward growth and economic resilience. Zambia’s previous IMF-backed programme supported fiscal consolidation and macroeconomic stabilisation over its 38-month duration, as outlined in MarketScreener.
“We have formally written to the IMF requesting a successor programme,” Nkulukusa said, adding that Zambia expects to reach a staff-level agreement by May if negotiations progress as planned, Reuters reported. A staff-level agreement sets out preliminary policy commitments before consideration by IMF management and approval by the Executive Board.
The renewed engagement comes as Zambia works to strengthen public finances, stabilise its currency and rebuild foreign exchange buffers following years of debt distress. Analysts note that securing a new IMF arrangement could bolster investor confidence and help unlock additional concessional financing, reinforcing the country’s broader economic recovery efforts.
