IMF expects talks with Zambia on new financial package to start in April
The International Monetary Fund (IMF) announced on Thursday that discussions with Zambia regarding a new loan program are anticipated to commence in April.
The International Monetary Fund (IMF) announced on Thursday that discussions with Zambia regarding a new loan program are anticipated to commence in April.
However, the IMF indicated that an agreement is likely to be reached only after the elections in Zambia, scheduled for August.
Zambia's previous arrangement with the IMF, a $1.7 billion facility established in 2022, concluded in January.
President Hakainde Hichilema has expressed interest in securing a new financial package from the IMF.
The International Monetary Fund (IMF) announced on Thursday that discussions with Zambia regarding a new loan program are anticipated to commence in April.
In the previous year, Zambia successfully completed debt restructuring agreements with all its creditors, following its status as the first country to default on loan obligations in 2020.
The nation, known for its copper production, has also attracted new mining investments and increased its foreign exchange reserves.
The IMF projects that Zambia's economy will grow by 5.5% in 2026.
Based on reporting by Africanews.
