Zambian Finance Minister Situmbeko Musokotwane unveiled plans to reduce the southern African nation’s fiscal deficit in 2027, after this year’s spending overshoot.

The International Monetary Fund’s board will probably sign off on a $1.47 billion deal for Zambia in December, its mission chief to the southern African nation said, after a staff-level deal was agreed on Friday.

Zambia’s central bank cut interest rates by the biggest margin since at least 2012 as inflation is forecast to remain within its target range.

Zambia expects its economy to expand by 6% next year, the fastest pace since 2021, with copper output in Africa’s second-biggest producer of the metal set to surpass 1 million tons, the finance ministry said.

Zambia’s annual inflation rate fell in September, creating room for a fourth successive interest-rate cut by the central bank.

Zambian police arrested and charged the country’s main opposition leader with treason, ramping up political tensions that have spiked after the copper-rich nation’s disputed August general election.

Zambia’s annual inflation rate fell to its lowest level since February 2018, remaining near the lower bound of the central bank’s 6% to 8% target range, as a strong currency helped keep the cost of imported goods in check.

A Zambian rights group petitioned the Constitutional Court to invalidate the outcome of this month’s presidential election, citing alleged irregularities, but it’s unclear if the challenge is valid.

Zambian authorities sealed off the court grounds where an opposition leader is preparing to challenge the outcome of Aug. 13 elections, as the deadline for filing a petition draws near.

Zambian police said a former transport minister was killed in a raid at the main opposition leader’s house last week, a day after elections that were tainted by claims of irregularities.

The United Nations voiced concern at reports of Zambian opposition members being detained during its Aug. 13 election, while observers raised questions about the fairness of the ballot that comfortably returned President Hakainde Hichilema to power.

Zambia’s stock exchange expects to bring a record $1 billion of initial public offerings to market after this month’s presidential election, as Africa’s second-biggest copper producer benefits from soaring prices for the metal.

Hakainde Hichilema was declared the winner of Zambia’s elections, an outcome that investors will welcome as he sets out to build on economic successes in Africa’s second-biggest copper producer.

Zambia’s president extended a commanding lead in the nation’s election, though a shootout at the home of the main opposition leader raised tensions in Africa’s second-largest copper producer.

Zambian security forces raided the home of the main opposition leader on the day of the presidential election, arresting 11 people after a shootout in what the authorities described as an investigation into an alleged plot involving foreigners.

Zambia’s president widened his lead among voters with over half of electoral constituencies counted, moving closer to extending his rule over the copper-rich southern African nation for a second term.

Zambia’s electoral commission resumed counting ballots in the country’s presidential election, after it said a security threat to the process was contained.

Zambia’s electoral commission cited reports of violence as it halted vote counting in the southern African nation’s general election, while the leading opposition candidate warned that delaying the results could mask foul play.

At the University of Zambia, students who’d queued since 2 a.m. shouted a countdown to the start of Thursday’s general elections and rushed through the door to decide whether to give President Hakainde Hichilema a second term.

Zambia’s annual inflation rate held steady, remaining near the floor of the central bank’s 6% to 8% target range as a rally in the kwacha contained import costs.