Zambia is seeking an additional $145 million by extending its International Monetary Fund (IMF) programme by 12 months.
- Zambia plans to extend its IMF programme by 12 months to secure an additional $145 million in funding.
- The nation aims to stabilize its finances after years of increasing debt.
- Zambia has already received approximately $1.55 billion under the $1.7 billion IMF Extended Credit Facility.
Zambia is seeking an additional $145 million by extending its International Monetary Fund (IMF) programme by 12 months, Finance Minister Situmbeko Musokotwane said on Tuesday.
The copper-rich Southern African nation is striving to restore fiscal stability after years of mounting debt. As of July 2025, Zambia ranks among the African countries with the highest debt exposure to the International Monetary Fund (IMF).
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Last month, Zambia announced plans to request an extension of its $1.7 billion Extended Credit Facility (ECF), which is scheduled to expire in October, Reuters reported.
However, it had not disclosed how much additional funding it would seek. To date, the country has received around $1.55 billion under the programme.
“The IMF programme gives the assurance that we are running things prudently,” Finance Minister Situmbeko Musokotwane said. “The additional support we are looking at is about $145 million.”
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Maintaining donor confidence
He warned that terminating the programme in October could jeopardise other forms of donor assistance, much of which is tied to Zambia maintaining an active IMF arrangement.
An IMF spokesperson confirmed that the Zambian government had informed the Fund of its intention to request a 12-month extension, adding that discussions would take place during the next programme review.
Zambia’s dollar-denominated bonds saw a modest uptick following the announcement, with the 2053 maturity rising 0.5 cents to 73.25 cents on the dollar, according to LSEG data.
