By Cecilia Chiluba,Zambia,Lusaka
President Hakainde Hichilema has hailed Zambia’s economic gains, citing stability in the Kwacha, easing inflation, and conclusion of the International Monetary Fund’s Extended Credit Facility (ECF) Programme.
Zambia’s inflation has fallen into single digits, declining to 9.4 percent in January 2026, from 11.2 percent in December, 2025, for the first time since August 2023, signalling easing pressure on household budgets.
President Hichilema attributed the development to prudent fiscal management and structural reforms now recognized by the IMF following the successful completion of the Programme.
He expressed gratitude to the IMF for their partnership, stating that Zambia looks forward to building on the foundations now in place.
“In 2021, the country was in default. Today, our country is on the path to prosperity. We have spent four years planting the seeds of reform.”
“Now it is time to bring in the harvest and ensure that stability translates into even more jobs and better lives for families in every corner of our nation,” he noted.
President Hichilema noted that the IMF’s recent confirmation of Zambia’s positive trajectory, with real Gross Domestic Product (GD) growth projected at 5.8 percent in 2026.
He observed that public debt has fallen from 112 percent of GDP in 2021 to a projected 78 percent this year.
The Head of State further said Zambia has seen increased investment in social programmes including Farmer Input Support Programme (FISP), free education, Constituency Development Fund (CDF) allocations, and reintroduction of university bursaries.
“Lower debt means lower interest payments, freeing resources for clinics, schools, and roads. It is the difference between a family trapped paying off loans and one that can invest in its children’s future.”
“Much work remains. However, the foundations are now in place to accelerate progress on job creation, ensuring reliable energy, and unlocking opportunities for our youth,” he said.
He thanked citizens for their patience, resilience and support in the country’s economic recovery programme.
This is according to a statement issued by State House Chief Communications Specialist, Clayson Hamasaka.
