JOHN CHAAMBWA,
PHILIP CHISALU
Lusaka
SEVERAL stakeholders have welcomed the completion of the sixth and final review under the International Monetary Fund (IMF)-supported 38-month Extended Credit Facility (ECF) Arrangement and the subsequent disbursement of US$190 million to Zambia.
In a statement, the IMF has applauded Zambia for its strong economic performance, allowing for an immediate and final disbursement of US$190 million, marking the final review of the arrangement.
Under ECF, Zambia has now received about US$1.7 billion in total support.
As the US$190 million disbursement brings total IMF support under the ECF to a close after more than three years, country representative Eric Lautier said at a media briefing yesterday that Zambia made “clear progress”.
This is in terms of restoring macroeconomic stability, sustaining fiscal consolidation and advancing a comprehensive debt restructuring under the G20 Common Framework.
And the IMF executive board said despite external and domestic shocks, Zambia has maintained broadly sound macroeconomic policies and continued to rebuild policy credibility.
“This final disbursement is both financial support and a signal to citizens, markets and other development partners that Zambia has strengthened its discipline and policy credibility,” Minister of Finance and National Planning Situmbeko Musokotwane said in welcoming the good news….https://enews.daily-mail.co.zm/welcome/home
