Zambia : Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria, and Financing Assurances Review

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Zambia : Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria, and Financing Assurances Review
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Volume/Issue:
2010/383
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
December 2010
DOI:
http://dx.doi.org/10.5089/9781455213573.002
ISBN:
9781455213573
ISSN:
1934-7685
Page:
72
Zambia showed strong economic performance with robust growth and moderating inflation under the Extended Credit Facility (ECF). It showed sound macroeconomic policies and progress in structural reforms. The Zambian authorities consider their main challenge to create fiscal space for priority spending, enhance economic diversification, and reduce poverty. The strengthening of debt management and project appraisal capacity are critical in this regard. To meet the financing needs for addressing growth-critical infrastructural requirements, the Zambian authorities requested a waiver for the nonobservance of a performance criterion on nonconcessional external debt.
Article

IMF Executive Board Completes Fifth Review Under ECF Arrangement with Zambia and Approves US$28.3 Million Disbursement

Author(s):
International Monetary Fund
Published Date:
December 2010
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