Finance and National Planning Minister Situmbeko Musokotwane says the recent sovereign credit rating upgrades by Standard & Poor’s (S&P) and Fitch Ratings have reinforced investor confidence in Zambia.
Dr. Musokotwane explained that the positive ratings have normalized relations with commercial creditors, improved debt sustainability, and signaled strong confidence in Zambia’s fiscal and structural reforms.
He emphasized that the upgrades formally confirm Zambia’s exit from default status, marking a significant restoration of credibility for the country.
Delivering a Ministerial Statement to Parliament, Dr. Musokotwane said the ratings also signal to the world that Zambia is once again a country that meets its obligations and manages its finances responsibly.
On November 21, 2025, S&P upgraded Zambia’s long and short-term foreign currency credit ratings from Selective Default to CCC+/C, officially marking the country’s return to creditworthiness.
