IMF Endorses Zambia’s Economic Reform Path with $184 Million Boost

By Mark Ziligone

LUSAKA — President Hakainde Hichilema has welcomed the International Monetary Fund (IMF)’s approval of the Article IV consultations and the fifth review of Zambia’s 38-month Extended Credit Facility (ECF), signaling strong international support for the country’s economic reform agenda.

The IMF’s Article IV consultation represents a comprehensive evaluation of a member country’s economic and financial policies. The latest endorsement confirms Zambia’s progress in rebuilding a stronger and more resilient economy.

According to President Hichilema, the IMF’s green light paves the way for an immediate disbursement of US$184 million under the ECF. He described the development as a significant vote of confidence in Zambia’s economic recovery programme.

“This support reaffirms that Zambia is on the right trajectory towards long-term economic stability and prosperity,” the President said.

President Hichilema reaffirmed that the government’s top priority remains delivering sustainable economic growth and improving the livelihoods of all citizens. He highlighted key measures including prudent fiscal management, effective inflation control, and ongoing debt restructuring efforts as cornerstones of Zambia’s macroeconomic strategy.

He further stated that the 2025 national budget has been revised to strengthen the foundations for growth while protecting the cost of living for ordinary Zambians.

Despite challenges posed by last year’s drought, President Hichilema noted early signs of economic recovery, including easing inflation and renewed investor confidence. He said Zambia’s economy is projected to grow in 2025, driven by strong performance in agriculture, mining, and the services sector.

The statement was issued by State House Chief Communications Specialist Clayson Hamasaka and made available to ZNBC News.