Zambia announces medium-term target of roughly 7% average growth for 2027–2029
On 29 September 2026 Zambia’s government set a medium-term macroeconomic framework targeting average GDP growth of about 7% between 2027 and 2029 (6.0% in 2027, 7.5% in 2028 and 7.1% in 2029), a shift from stabilisation toward investment-led expansion tied to progress on external debt restructuring.
The desk brief
On 29 September 2026 Zambia’s government set a medium-term macroeconomic framework targeting average GDP growth of about 7% between 2027 and 2029 (6.0% in 2027, 7.5% in 2028 and 7.1% in 2029), a shift from stabilisation toward investment-led expansion tied to progress on external debt restructuring.
The announcement is a policy narrative shift: if the government credibly delivers stronger growth and secures a successor IMF programme, Zambia’s sovereign refinancing premia could narrow and improve access to market financing. Conversely, failure to translate targets into higher investment or fiscal discipline would sustain restructuring risk premia. The statement itself does not show any market repricing or imply immediate yield moves.
Agreement with the IMF on a successor programme (Lusaka aims for before end-2026).
Sources & verification
Developing storyFurther independent confirmation is required.
- Zambia Targets Average 7% Economic Growth Through 2029 • 360 AngolareutersSource published (opens in a new tab)
- Zambia Targets 7% Average Growth Over Next Three Yearsserrarigroup.comSource published (opens in a new tab)
Public references supporting this brief.
Price Discovery
Zambia sovereign curve
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- Zambin 33Jun 203396.8136.343%
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