Zambia Hails IMF’s Extension of Credit Facility Program
(MENAFN) The Zambian government has expressed strong approval after the International Monetary Fund's (IMF) Executive Board sanctioned a three-month extension to the country’s Extended Credit Facility (ECF) agreement.
The decision, made on Monday, adjusts the program's conclusion date to January 30, 2026, giving Zambia additional time to finalize the sixth review of the program and establish a framework for future financial collaboration.
Finance and National Planning Minister Situmbeko Musokotwane confirmed the approval, underscoring that it highlights the IMF’s trust in Zambia’s ongoing economic reforms.
"This development demonstrates their confidence in working with Zambia in completing the sixth review of the ECF arrangement and laying the groundwork for future program engagement," Musokotwane said in a statement issued late Monday.
In July, Zambia's Cabinet had authorized the finance minister to pursue the extension request.
The current ECF arrangement, initially approved in August 2022, was originally set to end in October 2025.
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