The International Monetary Fund (IMF) team has arrived in Zambia to review its Extended Credit Facility (ECF) and Article IV Consultations.
This was revealed in Lusaka on Wednesday by the Secretary to the Treasury, Felix Nkulukusa, in a statement.
In August 2022, the IMF Executive Board approved an IMF ECF programme to support government’s reform plans to restore its debt sustainability, create fiscal space for the much needed social spending and achieve sustainable and inclusive economic growth.
Nkulukusa indicated that the the IMF delegation was being led by Allison Holland, Mission Chief for Zambia.
He said the team would be in Zambia from 22 March 22, 2023 to April 5, 2023 to undertake the first review and Article IV consultation.
“As part of the programme, the IMF will be undertaking scheduled regular reviews to assess Zambia’s progress in implementation of the ECF Program, ” Nkulukusa said.
Read more: IMF helping Zambia resolve its $13.4 billion debt challenge —Georgieva
He said during the first review and Article IV Consultation, the IMF will collect economic and financial information, and discuss the country’s economic developments and policies.
“The Fund will be assessing performance in areas such as restoration of fiscal and debt sustainability, improving debt management and transparency, strengthening governance and financial sector stability, and strengthening financial management,” Nkulukusa said.
He said the Ministry of Finance and National Planning was pleased to welcome the IMF mission team back to Lusaka and have the opportunity to discuss Zambia’s positive reform progress and next steps in the programme implementation.
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