Zambia said on Wednesday that an International Monetary Fund (IMF) mission was visiting for talks on a new support programme, which it hopes will help lift economic growth and stimulate investment.

The Southern African copper-producing country's previous $1.7-billion IMF arrangement expired in January, and the government has said it hopes to agree a successor programme before the end of the year.

The IMF mission is in Zambia until October 10, the finance ministry said in a statement.

It added that it hoped a new programme would preserve macroeconomic stability and debt sustainability while placing greater emphasis on private-sector-led growth, exports, diversification, investment and job creation.

An IMF spokesperson confirmed a staff team was in the capital Lusaka, saying discussions were focused on policies to safeguard fiscal and debt sustainability, strengthen reserve accumulation, and support more inclusive, private-sector-led growth.

Discussions are ongoing, and it would be premature to speculate on timing or outcomes, the spokesperson said in an e-mailed response to questions.

Zambia's previous IMF programme helped it emerge from a protracted debt crisis after it defaulted during the Covid-19 pandemic.

It is now targeting average economic growth of 7% over the next three years.