Zambia: IMF Executive Board Completes Third Review Under the Extended Credit Facility and Approves Augmentation of the Arrangement

Washington — The Executive Board of the International Monetary Fund (IMF) completed today the third review of Zambia’s 38-month Extended Credit Facility (ECF) Arrangement and approved an augmentation of SDR 293.46 million (about US$385.7 million). Completion of the review allows for an immediate disbursement of SDR 433.34 million (about US$569.6 million), bringing Zambia’s total disbursement so far under the ECF-supported program to SDR 852.98 million (about US$1.1 billion).

Zambia’s ECF…