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Economist Lubinda Haabazoka has described the completion of Zambia’s IMF Extended Credit Facility (ECF) programme as a significant milestone in the nation’s economic recovery.
In a statement on Tuesday, Haabazoka said the conclusion of the programme signals a return to macroeconomic stability and renewed international confidence in Zambia’s economy.
He noted that the US$1.7 billion disbursed under the ECF reflected trust in the country’s reform agenda and highlighted the resilience of Zambia’s economic framework.
“The completion of the ECF programme is expected to strengthen investor confidence and reduce the cost of borrowing,” Haabazoka said.
The former president of the Economics Association of Zambia (EAZ) pointed out that projected economic growth of 5.2 percent in 2025 and 5.8 percent in 2026 will be driven by mining, agriculture, and energy sectors.
He added that inflation was anticipated to stabilise within the 6–8 percent target band by 2027.
Haabazoka emphasised that maintaining sustainable debt levels would allow the government to redirect resources toward development priorities, while continued fiscal discipline and prudent borrowing remain critical.
He also highlighted ongoing reforms in the financial sector, which aim to safeguard depositors and improve access to credit, and stressed that economic diversification was essential for long-term resilience and job creation.
“Zambia should leverage this achievement as a springboard for inclusive and sustained national transformation,” Haabazoka said.
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