Zambia clinches US$1.4bn IMF dealBy VITA BANDAMINISTER of Finance Situmbeko Musokotwane has announced that the government and the International Monetary Fund (IMF) mission to Zambia have reached a staff level agreement on a program under the IMF’s credit facility (ECF) that envisages provisions of financial support of US$1.4 billion over the next three years.Dr Musokotwane told journalists at a press briefing yesterday that this will be in addition to the US$1.3 billion special drawing rights (SDR) allocation that was received in August 2021.He added, “the staff level agreement was one of the immediate objectives of the new dawn government and a directive from his Excellency Mr. Hakainde Hichilema that the ministry should finalise negotiations with the fund that had protracted for years within the shortest possible time.”Dr Musokotwane further said the IMF programme will provide the much needed fiscal space to Zambia and anchor the domestic economic programme which is based on economic transformation and […]
ZAMBIA CLINCHES US$1.4 BILLION IMF DEAL
