IMF unlocks $184m loan for Zambia recovery after severe drought

The copper-rich Southern African country is recovering from a severe regional drought, which curbed economic growth. The International Monetary Fund said on Friday its executive board had completed a fifth review of Zambia's loan programme, unlocking another disbursement of about $184 million. The fund said the loan programme would seek to "entrench macroeconomic stability, restore debt and fiscal sustainability, enhance public governance, and foster inclusive growth" for Zambia. The copper-rich Southern African country is recovering from a severe regional drought, which curbed economic growth after years of protracted debt-restructuring negotiations . Zambia battled its way to a restructuring deal with its primary creditors last year. It has yet to agree terms with some smaller creditors including Afreximbank. Its finance ministry expects growth to pick up 5.8% this year and 6.4% in 2026. Analysts do not foresee US President Donald Trump's 50% tariff on copper being a major drag on growth as exports to the US are limited and volatility in the copper price is expected to be temporary.