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IMF to assess Zambia after qualification for bailout package

International Monetary Fund (IMF)
International Monetary Fund (IMF)

A team from the International Monetary Fund (IMF) is expected to visit Zambia next month to assess how the southern African nation has performed since it qualified for a financial bailout package, a government official said on Thursday.

In August, the IMF Board approved the 1.3-billion-U.S. dollar 38-month financial assistance for Zambia under the extended credit facility meant to help the country restore macroeconomic stability and foster higher, more resilient, and more inclusive growth.

Mukuli Chikuba, the permanent secretary in charge of Budget and Economic Affairs in the Ministry of Finance and National Planning, said the team will also assess how the country has performed since it received the first installment of 185 million dollars from the IMF, the state broadcaster Zambia National Broadcasting Corporation, quoted him as saying.

The team will also help review how Zambia has complied with the guidelines and how it was implementing its debt restructuring program, he added. Enditem

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