Zambia Seeks One-Year Extension of IMF Bailout Program

TLDR

• Zambia is seeking a 12-month extension to its ongoing bailout programme with the International Monetary Fund (IMF), the government said in a cabinet statement
• The current 38-month Extended Credit Facility, originally set to end in October 2025, was approved in August 2022 with an initial value of $1.3 billion
• Zambia defaulted on its external debt in 2020 and has since worked toward restoring financial stability through a restructuring deal with official creditors

Zambia is seeking a…