Zambia, IMF reach staff-level agreement towards $1.4 billion financial support

FINANCE and National Planning Minister Dr Situmbeko Musokotwane has announced that government and the IMF mission to Zambia have reached a staff-level agreement on a programme under IMF’s Extended Credit Facility that envisages provision of financial support of US$1.4 billion over the next three years. Addressing the media, Friday, Dr Musokotwane however said the agreement was subject to approval by the IMF executive board. “I am pleased to announce that the Government and the International Monetary Fund (IMF) mission to Zambia have reached a Staff-Level Agreement on a programme under the IMF’s Extended Credit Facility (ECF) that envisages provision of financial support of US$1.4 billion over the next three years. This will be in addition to the US$1.3 billion in…...