Global credit rating agency Moody’s Investors Service has revised Zambia’s economic outlook from stable to positive, signaling growing confidence in the country’s fiscal and economic recovery. The upgrade reflects sustained progress in reducing government debt, alongside stronger economic growth and continued fiscal reforms.
Debt Decline and Fiscal Consolidation Drive Optimism
In its latest assessment, Moody’s highlighted a steady reduction in Zambia’s government debt burden, attributing the improvement to disciplined fiscal policies and economic expansion.
“The positive outlook reflects Zambia’s declining debt levels, supported by stronger GDP growth and ongoing fiscal consolidation,” the agency stated. “The government has implemented credible measures to stabilize public finances, and we expect these efforts to persist, further enhancing debt sustainability.”
Reforms and Economic Recovery Gain Traction
Moody’s noted that Zambia’s economic reforms—including debt restructuring agreements and enhanced revenue mobilization—have contributed to improved fiscal stability. The country’s real GDP growth, projected at above 5% in 2025, has also bolstered investor confidence.
The rating agency’s upgrade follows Zambia’s recent successful debt restructuring under the G20 Common Framework, which has eased repayment pressures and freed up resources for critical public investments.
Implications for Zambia’s Financial Markets
A positive outlook from Moody’s is a key indicator for international investors, potentially lowering borrowing costs and attracting foreign capital. If sustained, this trajectory could lead to a future credit rating upgrade, further improving Zambia’s access to global financial markets.
Zambian authorities have welcomed the revised outlook, viewing it as validation of ongoing economic reforms.
While the outlook revision is a positive signal, Moody’s emphasized that continued debt management, structural reforms, and stable growth will be crucial for Zambia to secure a full ratings upgrade in the future.
Analysts suggest that further progress in diversifying the economy, improving governance, and sustaining investor confidence will be key to consolidating these gains.
Please don’t let Mr Lungu and his dangerous Cardres come and wreck the economy again.
The usual jokes from Moody. The Father from Chawama was very clear, what matters is lutoshi of nshima, not these moody things. Until the common man feels a change, don’t tell us these moody things which just put us in bad mood
But Lungus economy was by far better than the UPND economy. UPND inherited a better economy from PF, fuel was K17 it is now K34, Roller meal was K90 it is now over K300, the exchange rate was K21 it is now K28 and so are many essential comodities. There is no comparison between the better PF economy with the worsened UPND – FACT
As long as HH becomes an Ambassador
Very good news,indeed,but we still need some more credit rating agencies to speak the facts about our positive trajectory to fully command investor confidence.Neverthe less,It shows that Zambians should continue to have confidence in the leaders we overwhelmingly put in office in just 3 years ago.PF-Tonse are just a bunch of non entities,a distracting nunsense.
Miselo Chikuma
……..and PF inherited a far better economy from MMD than what they left , so. ??
FWD2031
And it’s this type of thinking that I fail to understand that because PF worsened an income inherited from MMD so UPND should do the same. This Spaka guy should be told that Zambian people were promised a better economy, meaning better than PF. In case you have jumped of the bus Mr Spaka, we told sworn in at 10hrs and kwacha picks at 14 against the dollar. It is not in dispute that PF economy was better than the current one
ECL sent the GDP into negative 2%. The dude was bad news. Instead of growing, the economy was shrinking.
Good news but let it reflect on the ground.
Let Zambians see the difference or the benefits.
Very funny that somebody even says good news. We have had such news in the past, did you ever see the ‘economy’ of the ordinary Zambian improve, a very big no Sir.
Jullieta K
When we tell you that development is not an event but a proceess,this is what we mean.The positive rating didn’t happen yesterday.It is a series of progressive and sometimes painful economic measures by government over the past three years that has led to this.Bring in PF,and they will destroy everything with freebies,’Tantameni’,wasteful expenditure,thuggery and theft of public funds
Zambians must never make that mistake again.
Miselo Chikuma.
Those types of arguments are for Grade 9 pupils.Try a much higher textbook
Just jumping around for 4 years without tangible results. The only achievements being hollow self praise. Start working, you don’t have time please.
He will clutch to this moody thing like a tick now. He first started by blaming the PF for his clear failure, then blamed Ukraine war, then clung to the drought, and yet the UPND economy was in decline even before the drought.
Yes,he will.Why not?You are clinging to a banished and finished Lungu,yourself
This is why I always say these so-called opposition they do not have a direction at all anything positive for the other camp its bad to them. Assuming the news above was negative you would have seen them jumping from one radio station to another celebrating the bad news. They do not have anything to tell us why we can vote for them in 2026, as long as they continue with this micky mouse mark my word, they will not manage to get even 150000 votes all opposition combined next year. The other camp I can see a walk over with over three million votes next year. We expected them to at least go to Kariba dam to show us the level of water there, so that we have what we call checks and balances, now see what we are getting from them no direction whatsoever.
There is nothing positive here, the economy has been negative ever since UPND took over and I am not even opposition
A good rating for Zambia by Moody is good. But with shallow, irritating and retrogressive minds influencing the president of the likes of Hamasaka, Muskokotwane, Levy Ngoma, theoretical Kayumba and routine minded mwiimbu, we will still move in reverse. Each time Cornelius mweetwa speaks, you read in his body language pomp, ego, know it all and indispensable attitudes which certainly annoys the public with certainty like sunrise and sunset. HH needs to continue removing liability personal as he did with nkombo and allow creative Zambian brains around him
Don’t even blame other people surrounding him, this President has failed on his own. Seriously what can you point at as working in this country, this is Easter time, let’s always be truthful, I am UPND but an objective one
To clear yourself From damning debt……..
Even individuals have to go through austerity………
A country is the same,……….
We are on a right path , and we will see the cost of living cushioning happening very soon………
Every government in the world makes life easier during elections times , either by……….
Tax cuts , wage increases or reduction of prices by manipulating business taxes or other machinations behind the scenes……..
Zambia is no different…….
FWD2041
A story that can’t sell
We are not in any direction
Ma promises fulu fulu, zero delivery. Who eats free education aini? Moody or no moody, start attempting to deliver. We know capacity and competence to deliver may not be there, but just start attempting
What kind of education do we have in Zambia?Look at the *****s above…they forgot that Lungu defaulted to pay the Eurobond because the country was broke, infact in ICU. Zambia is still a bankrupt country. They borrowed and put 60% of that money in their pockets. We have our brothers expecting things to change within a period of 4years forgetting that you just restructured your foreign debt hanging over your heads.
First what debt did PF lead us ?
What Debt has UPND increased it too
Quoting positives with no figures means zero
Much like th Dual Carriage way 20/25 years of tolls going to the chinese ?
No figures !! only 650 Million mentioned clap clap KIKIKI
we really a forgiving, backward lot
The Ministry of Finance has the debt figures.
The Ministry of Finance WEBSITE has the debt figures.
This is how the West has been fooling African countries for centuries….they can say anything on Paper but the reality should be what’s happening on the ground…Yes Positive rating for Politicians who are getting thousands in salaries and corruption…not ordinary Zambians on the streets
well why print a half baked article ?? for the less learned can be presumed
So many ignorant comments on how the economy works, but there’s a few bright and truthful comments too.And yes, HH’s economic indicators are far better than Lungu’s.
Why is it that fritters(dondo)used to cost 50 ngwee in the previous government but today it is costing K3?
Moody said everything was great immediately before the last market crash. Just saying