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International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Zambia on the Second Review of the Extended Credit Facility

Once the review is approved by IMF Management and completed by the Executive Board, Zambia will have access to about $184 million in financing (SDR 139.9 million)

The Zambian authorities and the IMF team have reached a staff-level agreement on economic policies to conclude the second review of the 38-month Extended Credit Facility-supported program (ECF). Once the review is approved by IMF Management and completed by the Executive Board, Zambia will have access to about $184 million…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the First Review of the Extended Credit Facility and Conducts Discussions on the 2023 Article IV Consultation with Zambia

The Zambian authorities and IMF staff team have reached a staff-level agreement on the first review of Zambia’s economic program under the ECF arrangement

IMF staff and the Zambian authorities have reached a staff-level agreement on economic policies to conclude the first review of the 38-month ECF-supported program. All structural benchmarks and quantitative performance criteria for the first review have been met; Zambia will have access to about US$188 million in financing once the review…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) Managing Director Kristalina Georgieva at the Conclusion of Her Visit to Zambia

Zambia is making tremendous progress on reforms, at what is a particularly challenging time for the world economy

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Lusaka at the conclusion of her January 22-24 visit to Zambia: “I wish to thank H.E. President Hichilema, Minister of Finance and National Planning Musokotwane, and Central Bank Governor Kalyala for their gracious…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Zambia

The Zambian economy appears to have remained relatively resilient and inflation has remained in single digits for longer than expected

An International Monetary Fund (IMF) staff team, led by Ms. Allison Holland, Mission Chief for Zambia, conducted a staff visit to Lusaka from November 30 to December 7, 2022, to discuss recent economic developments and implementation of the Fund-supported program . [1] At the conclusion of the visit, Ms. Holland issued the…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Approves New Extended Credit Facility (ECF) Arrangement for Zambia

Zambia is dealing with the legacy of years of economic mismanagement, with an especially inefficient public investment drive

The IMF Board approves SDR 978.2 million (about US$1.3 billion) 38-month ECF arrangement for Zambia to help restore macroeconomic stability and foster higher, more resilient, and more inclusive growth; The authorities’ program, supported by the ECF-arrangement, will advance the authorities’ homegrown reform plan to restore debt sustainability, create fiscal space…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with Zambia

The Zambian authorities have committed to an ambitious economic reform program to address the severe economic and social challenges facing the country

The IMF team reached a staff-level agreement with the Zambian authorities on a new arrangement under the Extended Credit Facility (ECF) for 2022-2025 to help restore macroeconomic stability and provide the foundation for an inclusive economic recovery.The government’s ambitious reform program, supported by the IMF, seeks to restore fiscal and…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with Zambia

The staff-level agreement is subject to IMF Management and Executive Board approval and receipt of the necessary financing assurances

The IMF team reached a staff-level agreement with the Zambian authorities on a new arrangement under the Extended Credit Facility (ECF) for 2022-2025 to help restore macroeconomic stability and provide the foundation for an inclusive economic recovery. An International Monetary Fund (IMF) team led by Allison Holland, Mission Chief for…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Completes Virtual Staff Visit to Zambia

The IMF team, led by Ms. Allison Holland, Mission Chief for Zambia, held virtual meetings from September 27 to October 1, 2021

Following the August election, the new government of Zambia invited the International Monetary Fund (IMF) for a virtual staff visit to share their key policies and reform measures. The IMF team, led by Ms. Allison Holland, Mission Chief for Zambia, held virtual meetings from September 27 to October 1, 2021.…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Coronavirus - Zambia: International Monetary Fund (IMF) Statement on Zambia

Imperative that central banks’ operational independence and credibility is maintained, particularly at this critical time when economic stability is threatened by COVID-19

“In response to media inquiry regarding the recently announced change in leadership at the central bank of Zambia, an IMF spokesman made the following statement: “We note the change in leadership announced over the weekend at the Bank of Zambia before the end of the previous Governor’s mandate. The macroeconomic…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Coronavirus - Zambia: IMF Staff Completes Virtual Mission to Zambia

Discussions focused on the economic policies needed to respond to the fallout from the COVID-19 pandemic. Discussions will continue on the fiscal stance and policies in order to move forward with the request for Fund support

Discussions centered on the Government of Zambia’s request for emergency support under the Rapid Credit Facility to support the government’s efforts to address the social and macroeconomic impact of the COVID-19 pandemic: The COVID-19 shock has significantly impacted economic prospects—growth this year will be negative, poverty has likely increased, and…