You are offline. Figures shown are the ones saved on this device.
syli atlas
Français Sign in

Fictitious figures · end of day

Country · ZMB

Zambia · Finances and debt

Source: IMF, World Economic Outlook (October 2026) · copied on 2026-11-11

Public finances and external accounts

A fiscal deficit of 3.8 % of GDP

Zambia: in 2025, the general government spent 3.8 % of GDP more than it collected, public debt stood at 100.6 % of GDP, the current account showed a deficit of 5.5 % (IMF).

Fiscal balance · 2025
−3.8 %
of GDP · +10.0 pt since 2020
Public debt · 2025
100.6 %
of GDP · −39.4 pt since 2020
Current account · 2025
−5.5 %
of GDP · −17.3 pt since 2020

Fiscal balance, % of GDP

Negative: a deficit · dashed: estimates and projections

−15 % −10 % −5 % 0 % 2015 2020 2025 2030 Zambia −1.0 Southern Africa −3.7 −15 % −10 % −5 % 0 % 2015 2020 2025 2030
  • Zambia
  • Southern Africa

Source: IMF, World Economic Outlook (October 2026) · general government net lending or borrowing · group values weighted by GDP in dollars (Syli Atlas)

Current account, % of GDP

Trade, income and transfers with the rest of the world

−10 % −5 % 0 % 5 % 10 % 15 % 2015 2020 2025 2030 Zambia 3.0 −10 % −5 % 0 % 5 % 10 % 15 % 2015 2020 2025 2030

Source: IMF, World Economic Outlook (October 2026)

Currency

Zambian kwacha

The Zambian kwacha has no fixed peg: its value against the dollar and the euro moves with the market and the central bank's policy.

Currency
ZMW
Zambian kwacha
Exchange regime
—
no fixed peg
Inflation · 2025
13.9 %
average annual change in consumer prices

Currency codes: ISO 4217 · fixed parities: central banks (BCEAO, BEAC, Central Bank of the Comoros, Bank of Cape Verde…) · inflation: IMF, World Economic Outlook (October 2026)

Debt

A debt owed first to multilateral lenders

At the end of 2025, Zambia owed 16.0 bn$ in public external debt (World Bank). 24.4 % of it was owed to China, 30.4 % to multilateral institutions and 16.1 % to bond holders.

Debt of the 54 countries →
Public debt · 2025
100.6 %
of GDP · IMF
External debt · 2025
28.6 bn$
public and private · World Bank
Public external debt · 2025
16.0 bn$
owed or guaranteed by the State
Debt service · 2024
5.4 %
of exports of goods, services and income

Risk of debt distress

IMF and World Bank debt sustainability analysis

Latest analysis published on 2026-02-02: high.

Source: IMF, list of debt sustainability analyses of low-income countries, as of 2026-03-31 · imf.org

Public external debt by creditor

Share of the total at the end of each year

2015
2020
2025
Multilateral (IMF, World Bank, AfDB…)
30.4 %
China
24.4 %
Other countries
8.1 %
Bonds (Eurobonds)
16.1 %
Banks and other private lenders
21.1 %

Source: World Bank, International Debt Statistics (updated 2026-11-05) · public and publicly guaranteed external debt, end of year · CC BY 4.0 · shares: Syli Atlas calculation