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Finance and National Planning Minister, Situmbeko Musokotwane, says Zambia’s staff-level agreement with the International Monetary Fund (IMF) confirms that ongoing economic reforms are delivering results and boosting investor confidence.
Subject to approval by the IMF Executive Board, the agreement will unlock a final disbursement of SDR 139.9 million (approximately US$190 million), bringing total IMF support to about Special Drawing Rights (SDR) 1.27 billion, or roughly US$1.7 billion, since August 2022.
In a statement issued on Thursday, Musokotwane described the agreement as a major endorsement of Zambia’s fiscal discipline and economic reform agenda.
“This is not merely a technical milestone with the IMF. It confirms that the difficult reforms undertaken by the Zambian people are working, that economic stability is being restored, and that Zambia is once again becoming a predictable and investable economy,” he said.
Read more: IMF to disburse $190 million as Zambia nears end of Extended Credit Facility programme
The Minister praised President Hakainde Hichilema, Cabinet, the private sector and cooperating partners for their support, while paying tribute to citizens for their resilience throughout the reform process.
“I commend His Excellency the President, Hakainde Hichilema, Cabinet, the private sector, our cooperating partners and, above all, the Zambian people for the trust and perseverance they have demonstrated during this reform journey,” Musokotwane said.
He noted that alignment between IMF commitments, national budget priorities and external assessments was deliberate, reflecting the government’s emphasis on policy consistency.
“Policy credibility is built through consistency. The 2026 budget, which will soon be presented, will convert these commitments into tangible actions that promote growth, protect the vulnerable and support private sector–led job creation,” he said.
As Zambia continues to consolidate its economic recovery, Musokotwane said transparency and public engagement would remain central to government policy.
He announced that the ministry, in collaboration with the Bank of Zambia and the Zambia Revenue Authority, would host a National Townhall Meeting in late January 2026 to review economic performance in 2025 and discuss the outlook for 2026.
While acknowledging that economic recovery is underway, the minister stressed the need to sustain reform momentum.
“Zambia’s recovery is real, but it must be consolidated,” he said, reaffirming the government’s commitment to reforms that deliver long-term stability and shared prosperity.
Having met all benchmarks under the IMF’s Extended Credit Facility programme, Musokotwane said Zambia is prepared to enter the next phase of engagement, focusing on deeper structural reforms to unlock private sector–driven growth.
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