Zambia’s finance ministry announced it will engage the International Monetary Fund on a new programme.
The move comes as the current IMF loan arrangement approaches its expiration at the end of January.
Officials confirmed the government will not pursue a one-year extension of the existing Extended Credit Facility programme.
Instead, authorities plan to implement a full programme that runs its complete course, offering broader fiscal support.
The finance ministry described the shift as a strategic step to strengthen economic stability and future growth prospects.
Zambia has faced mounting financial pressures, including debt repayments and fiscal deficits, making IMF support a critical lifeline.
The new programme is expected to address structural reforms, public spending, and measures to boost investor confidence nationwide.
Government officials emphasized the importance of comprehensive planning to ensure the programme meets long-term development and stability goals.
Analysts say the move signals Zambia’s intent to deepen engagement with international financial institutions and secure sustainable funding sources.
The IMF has not yet provided details on the terms or timeline of the upcoming programme negotiations with Zambia.
Zambia’s economy has shown resilience amid regional challenges, but experts caution careful implementation is crucial for success.
The government’s statement framed the decision as proactive, aiming to replace short-term measures with a stable, long-term financial path.
The announcement follows months of discussions between Zambian authorities and IMF officials on managing fiscal pressures and growth targets.
Economic observers will watch closely as Zambia and the IMF outline programme specifics, including reform priorities and funding arrangements.
Zambia’s initiative reflects a broader trend in Africa, where nations are seeking tailored financial agreements to support recovery and development.
