Zambia Begins Imf Talk On Successor Ecf Programme

Zambia has commenced discussions with the International Monetary Fund (IMF) on a successor Extended Credit Facility (ECF) programme aimed at maintaining macroeconomic stability while promoting investment, exports, economic diversification and job creation.

The IMF mission, led by Mission Chief Edward Gemayel, will hold discussions with Government and other key institutions through October 10, 2026.

The talks include the 2027 National Budget and the 2027–2029 Medium-Term Budget Plan, as well as economic and structural policies to support the proposed programme.

Mr. Gemayel said the successor programme would help preserve macroeconomic stability and debt sustainability while supporting the Government’s Grow Zambia Agenda through private-sector investment, exports, diversification and sustainable growth.

Finance and National Planning Minister Situmbeko Musokotwane said Government’s focus over the next five years would be to maintain fiscal and macroeconomic stability while placing greater emphasis on economic growth, investment and employment.

"The focus now, over the next five years, is to maintain fiscal stability, macroeconomic stability, with a lot of bias towards growth,” Dr. Musokotwane said.

He identified export-led growth, foreign direct investment, human capital development, and a stronger regulatory and governance environment as key pillars of Government’s growth strategy.

Dr. Musokotwane said creating employment, particularly for young people, would require increased investment and sustained economic growth.

Zambia’s previous 38-month IMF-supported ECF programme, approved in August 2022, concluded in January 2026 after six reviews, with total IMF access reaching about 1.7 billion US dollars.

The IMF mission will continue its policy discussions with Zambian authorities through October 10, 2026.