Zambia’s Finance Minister this Sunday welcomed a milestone upgrade from S&P Global ratings agency that removed the copper-rich country’s default status in the latest sign of economic recovery.<\/p>\n
<\/p>\n
In September, the government forecast a rosier fiscal picture for 2026, estimating the budget would more than halve, and economic growth rise above 6% following years of protracted debt restructuring negotiations and a severe drought.<\/p>\n
<\/p>\n
On Friday, S&P upgraded Zambia’s long and short-term foreign-currency credit rating to CCC+\/C from selective default with a stable outlook.<\/p>\n
<\/p>\n
“It confirms that Zambia has moved out of default status and is steadily restoring its place as a credible and investable economy,” Finance Minister Situmbeko Musokotwane said in a statement.<\/p>\n
<\/p>\n
The government remained committed to fiscal discipline and completing the remaining components of debt restructuring while expanding energy access, he said.<\/p>\n
<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":15933,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-15932","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Zambian government welcomes ratings upgrade that sees country exit default status","published_date":"2025-11-23 12:27:03","news_description":"Zambian government welcomes ratings upgrade that sees country exit default status","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15932\/revisions"}],"predecessor-version":[{"id":19957,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15932\/revisions\/19957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/15933"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=15932"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=15932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}