Zambia Institute for Policy Analysis and Research

ZAMREN AWARD

This award is presented to ZAMBIA INSTITUTE OF POLICY ANALYSIS AND RESEARCH in recognition of being the Most Reliable ZAMREN member institution in the category of Research and Anchor Institutions 2021

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Zambia’s Twin Credit Upgrade: A Turning Point in the Nation’s Economic Recovery

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By: Mbewe Kalikeka 1st December 2025 Zambia has received yet another vote of confidence from the global financial community. On 23 November 2025, Standard & Poor’s (S&P) upgraded Zambia’s long- and short-term foreign-currency credit ratings from “Selective Default (SD)” to CCC+/C, marking the country’s formal exit from default status. Just five days later, on 28 November 2025, Fitch …

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