Zambia has decided not to extend its current International Monetary Fund (IMF)-supported Extended Credit Facility (ECF) program for one year, and will instead pursue a new full program, senior officials said Thursday.

Finance Minister Situmbeko Musokotwane told a press briefing that after careful review and consultations, the government chose to conclude the sixth and final review of the current arrangement and negotiate a successor program.

He emphasized that the decision does not signal disengagement from the IMF or a reduction in reform efforts, but reflects the completion of the ongoing program and the transition to a new, comprehensive plan.

The successor program will continue addressing Zambia’s debt restructuring obligations while considering evolving economic priorities, including growth targets and medium-term development needs.

Since entering the IMF-supported ECF in 2022, Zambia has successfully completed all reviews and consistently met quantitative performance criteria and structural benchmarks. A staff-level agreement on the sixth review was reached last month.

Originally scheduled to end in November 2025, the program will now formally conclude by the end of January 2026. The brief extension was purely technical, designed to allow sufficient time for evaluating program performance as of October 2025.