Zambia secures IMF staff-level deal

Zambia has reached a staff-level agreement with the IMF for a $194 million disbursement under the Fifth Review of its Extended Credit Facility. The deal follows stronger-than-expected economic growth of 4 per cent in 2024, despite drought and global headwinds, with 2025 growth projected at 5.8 per cent.

The IMF urged tighter fiscal discipline and stronger revenue efforts as debt service and social spending pressures mount. Inflation, which peaked at 16.8 per cent, is expected to ease in 2025. Authorities plan to revise the budget and press ahead with reforms to support stability, investment, and job creation.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama

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