By BUUMBA CHIMBULUTHE International Monetary Fund (IMF) has approved the extension of increased access limits under the Rapid Financing Instrument (RFI), available to all member countries including Zambia.Member countries can access the facility to urgently address their balance of payment needs arising from persistent related economic disruptions.This is according to a statement issued by the IMF communication department in Washington DC.In addition, the Executive Board has approved the extension of increased access limits for Rapid Credit Facility (RCF), available only to low income countries eligible for concessional financing.IMF stated that the Executive Board had approved a six-month extension of the temporary increase in access limits under the emergency financing instrument through to April 6, 2021, following the persistent impact of COVID-19 pandemic.“Against the background of urgent balance of payments needs resulting from the corona virus pandemic, in April 2020 the IMF approved a temporary increase in access limits under its emergency financing instruments, the RFI, […]
IMF EXTENDS HELP
