The IMF Assitance to Zambia
In December 2021, 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 in the amount of about SDR 980 million or USD 1.4 billion 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 debt sustainability, create fiscal space for much-needed social spending, and strengthen economic governance and transparency.
To complement the authorities’ strong reform program a comprehensive debt treatment under the G20 Common Framework is needed to restore debt sustainability.
The IMF Executive Board’s consideration of this agreement is subject to progress on this front.