The Government of the Republic of Zambia has reiterated its strong commitment to macroeconomic stability, fiscal discipline, and inclusive growth after the conclusion of the International Monetary Fund (IMF) Sixth Review Mission under the Extended Credit Facility (ECF) arrangement. The mission, held in Lusaka from 22 October to 4 November 2025, praised Zambia’s reform momentum and resilience amid global and domestic challenges. Key improvements noted included easing inflation, stronger investor confidence, and the expansion of private-sector credit. Virtual discussions with the IMF will continue in the coming weeks to maintain progress.
Finance and National Planning Minister Dr Situmbeko Musokotwane, MP, welcomed the IMF’s positive assessment, noting that Zambia’s reforms are beginning to deliver tangible results. He highlighted that investor demand for government securities remains strong, while private-sector credit continues to support vital sectors such as agriculture, manufacturing, and energy. “These commendations affirm that stability is returning and that Zambia is steadily consolidating domestic and international confidence as a result-oriented economic transformer,” Dr Musokotwane said.
Dr Musokotwane emphasized that macroeconomic stability is the government’s foremost priority. Stability underpins jobs, business confidence, and social progress. Fiscal consolidation is central to Zambia’s strategy, focusing on rebuilding fiscal buffers, reinforcing investor confidence, and reducing vulnerabilities in public finances to sustain social investment and growth. The Minister also highlighted ongoing measures to strengthen financial-sector supervision, improve governance of state-owned enterprises, and enhance anti-corruption frameworks. “Accountability and transparency are the cornerstones of reform credibility — they ensure that every Kwacha works for the people of Zambia,” he added.
The Minister identified private-sector dynamism as a key driver of inclusive development. Government efforts aim to remove investment bottlenecks and encourage competition in priority sectors. He cited reforms such as the open-access framework for the Tazama Pipeline, which enhances transparency, efficiency, and energy diversification. Addressing the energy deficit remains critical for sustaining production, supporting industrial growth, and increasing competitiveness.
Dr Musokotwane assured citizens, investors, and development partners that Zambia will continue its reform trajectory focused on stability and sustained growth. Structural constraints, including the energy deficit, are being tackled while creating new opportunities for jobs and inclusive prosperity. Despite challenges such as the 2024 drought, Zambia’s progress reflects resilience and determination. “Our vision is clear — a resilient economy that delivers for its people, attracts investment, and secures long-term prosperity for the motherland,” he stated.
The IMF review underscores Zambia’s progress in stabilizing its economy and strengthening investor confidence. The government’s continued reforms aim to consolidate fiscal and financial stability while promoting sustainable, inclusive economic growth.