By Rogan Labika
Minister of Finance and National Planning Dr.Situmbeko Musokotwane has officially ruled out an extension of its existing Extended Credit Facility (ECF) with the International Monetary Fund (IMF).
Instead, the state plans to transition directly into a new full-term successor program designed to shift the national focus from stabilization toward aggressive economic growth and job creation.
Dr. Musokotwane confirmed that the current 2022 agreement will conclude following its sixth and final review. He emphasized that this move signals a strategic evolution in Zambia’s economic policy rather than a withdrawal from international cooperation.
He said that while the current ECF was originally slated to wrap up in November 2025, it will now reach its conclusion in mid-January 2026. He stated that the brief technical extension was implemented to allow for a final performance assessment based on data through October 2025.
Dr. Musokotwane highlighted that the upcoming IMF-supported program is expected to move beyond the initial recovery phase and that a staff-level agreement on the final review has already been secured.
