Moody’s Upgrade Marks Turning Point for Zambia, Yet Household Relief Remains Ahead

Tue 03 Sept 2026 /Mpelembe Media/ — On October 30, 2026, Moody’s upgraded Zambia’s sovereign credit rating from Caa2 to Caa1 with a positive outlook, citing substantial, sustained progress in government debt management following the nation’s 2020 default. This rating action follows earlier upgrades by S&P Global Ratings and Fitch Ratings, alongside a staff-level agreement reached on October 9, 2026, for a US$1.472 billion, 36-month IMF Extended Credit Facility. Over time, these improved assessments are expected to lower sovereign borrowing costs and help attract financing for major infrastructure initiatives such as the Lobito Corridor. Continue reading →