IMF REACHES STAFF-LEVEL AGREEMENT WITH ZAMBIA ON ECF REVIEW

The International Monetary Fund (IMF) reached a staff-level agreement with Zambia in late December 2025, paving the way for continued support under the Extended Credit Facility (ECF). The announcement, confirmed in early January 2026, reflects Zambia’s commitment to fiscal discipline and macroeconomic stability. 

IMF officials highlighted improvements in Zambia’s fiscal management, debt monitoring, and revenue collection as key factors enabling the agreement. They praised reforms in public finance management and the adoption of transparent reporting practices.

Economists suggest that new disbursements will help Zambia stabilize its budget, maintain essential services, and boost investor confidence. The agreement is also seen as a signal to international markets of Zambia’s economic credibility.

Government sources stated that funds received through the ECF will support critical infrastructure, health, and social programs, while ensuring macroeconomic balance and debt sustainability.

Analysts warn that sustained success will require continued reforms, adherence to budgetary discipline, and proactive engagement with international partners to mitigate external shocks such as commodity price fluctuations.