The International Monetary Fund (IMF) says Zambia has made substantial progress in restoring macroeconomic stability following a two-week mission to Lusaka.
IMF Mission Chief Edward Gemayel said the country has recorded notable improvements in key economic indicators, including inflation, fiscal performance and external reserves.
He said inflation has returned to the Bank of Zambia target band of 6 to 8 percent, standing at 6.8 percent in April 2026. Gross international reserves have increased to US$6.4 billion, equivalent to 4.4 months of import cover.
The IMF further noted that Zambia recorded a primary fiscal surplus of 3.1 percent of GDP in 2025, while debt restructuring agreements now cover about 94 percent of the restructuring perimeter.
The Fund said these developments reflect continued progress in stabilising the economy and strengthening fiscal and external positions.
Meanwhile, President Hakainde Hichilema has welcomed the IMF findings, describing them as independent confirmation of the economic reforms undertaken by his administration.
In a statement issued by State House Chief Communications Specialist Clayson Hamasaka, President Hichilema said that while progress has been made, challenges remain, including external pressures linked to global geopolitical tensions and rising fuel costs.
“These findings are an independent confirmation of the disciplined economic stewardship we have pursued since taking office,” he said.
He said government remains committed to cushioning citizens while maintaining economic stability.
The President also welcomed ongoing discussions with the IMF on a successor programme, expected to continue after the August elections, describing it as a sign of international confidence in Zambia’s economic direction.
He further thanked the Ministry of Finance, the Bank of Zambia and other stakeholders for their role in achieving the progress.
They can’t comment on such news we know them…If it was negative news,you could have seen their faces lining up to insult HH
Yep its all very true ….especially that chap Tikki .
Very good performance by team HH we’re returning to the Rupiah Banda era kind of positive stats ,and even surpassing in terms of forex reserves.Great performance you folks in charge .