IMF expects talks with Zambia on new financial package to start in April

The International Monetary Fund (IMF) said Thursday that talks with Zambia over a new loan program could start in April.

But the lender added that an agreement was only expected after elections in the southern African country in August.

Lusaka's most recent program with the IMF, a $1.7 billion facility agreed in 2022, ended in January.

President Hakainde Hichilema who is expected to seek a second term has signalled interest in a new package from the Washington-based lender.

Last year, Zambia concluded debt restructuring agreements with all its lenders, having become the first country to default on its loan obligations in 2020.

The copper producer has also been able to attract new mining investment and shored up its forex reserves.

The IMF expects Zambia's economy to expand 5.5% in 2026.