Zambia IMF funding, Zambia debt relief, Extended Credit Facility, Situmbeko Musokotwane, Zambia economic recovery
Zambia is seeking an additional $145 million from the International Monetary Fund (IMF) by extending its existing programme for another 12 months, Finance Minister Situmbeko Musokotwane announced on Tuesday last week.
The copper-rich Southern African nation is working to restore fiscal stability after years of mounting debt. As of July 2025, Zambia ranks among the African countries with the highest debt exposure to the IMF.
Last month, the government revealed plans to request an extension of its $1.7 billion Extended Credit Facility (ECF), which is set to expire in October, according to Reuters.
At the time, however, officials had not disclosed the exact amount of additional financing they were targeting. To date, Zambia has received approximately $1.55 billion under the programme.
“The IMF programme gives the assurance that we are running things prudently,” Musokotwane said. “The additional support we are looking at is about $145 million.”
He cautioned that ending the programme in October could jeopardise other forms of donor assistance, much of which depends on Zambia maintaining an active IMF arrangement.
An IMF spokesperson confirmed that the Zambian government had notified the Fund of its intention to request a 12-month extension. Discussions are expected to take place during the next programme review.
Following the announcement, Zambia’s dollar-denominated bonds saw a modest rise, with the 2053 maturity increasing by 0.5 cents to 73.25 cents on the dollar, according to LSEG data.
