ZAMBIA: How much hope for an IMF program?

The International Monetary Fund (IMF) said today, 9 December, that it “will be assessing in the coming weeks how the IMF could support the authorities’ reform efforts through a possible Fund program.” Zambia’s request was widely expected, but the prospects for a swift and comprehensive deal still seem uncertain at best. Although an agreement would be a game changer for the disastrous sovereign outlook and acrimonious debt restructuring negotiations, President Edgar Lungu’s government has done nothing in recent months to signal a course correction, casting doubt over any improvement