IMF Arrive In Zambia Ahead Of Debt Restructuring Talks

The Zambian government and the International Monetary Fund (IMF) are preparing to initiate talks regarding the first review of the Extended Credit Facility arrangement and Article IV Consultations.

As per the Secretary to the Treasury's statement, the IMF will gather economic and financial information and engage in discussions regarding Zambia's economic developments and policies during the review and consultation.

The Fund's evaluation will cover several areas, such as fiscal and debt sustainability restoration, enhancement of debt management and transparency, improvement of governance and financial sector stability, and others.

Allison Holland, who leads the IMF delegation, is expected to visit Zambia from March 22 to April 5, 2023, to undertake the task. 

The IMF program for Zambia received approval in August 2022 with the objective of providing support for the government's reform plan to restore debt sustainability, establish fiscal space for social spending, and promote inclusive economic growth.

Photo: OLIVIER DOULIERY / AFP via CFP