IMF
Zambia has scrapped plans to seek a one-year extension of its International Monetary Fund-backed program and will instead pursue a brand-new, full arrangement, signaling a shift in strategy rather than a break with reforms. Finance Minister Situmbeko Musokotwane said the decision follows extensive consultations and reflects the successful completion of the current extended credit facility. Zambia has met all performance targets since entering the program in 2022, with the final review now nearing completion. Rather than prolong a framework that has run its course, the government wants a successor program aligned with new priorities, including growth and medium-term development. The move comes as Zambia continues debt restructuring talks and prepares for the current IMF program to conclude in early 2026.
Xinhua