An IMF mission has arrived in Lusaka to begin Article IV consultations and the first review of Zambia’s IMF Program under the Extended Credit Facility (ECF) structure.
After Zambia’s receipt of Executive Board approval for an IMF program in August 2022, discussions have begun.
The government’s reform strategy is supported by the IMF program in order to restore debt sustainability, free up funds for critical social spending, and ensure sustainable and inclusive economic growth.
Allison Holland, the mission chief for Zambia at the IMF, is in charge of the delegation, which will be in the nation from March 22 through April 5 to conduct the first review and Article IV consultation.
This information can be found in a statement released by Felix Nkulukusa, secretary of the Treasury.
The IMF will conduct planned, routine reviews as part of the program to evaluate Zambia’s progress in carrying out the ECF program.
The IMF will gather economic and financial data, talk about the nation’s economic developments and policies, and conduct the first review and Article IV Consultation.
“The Fund will be assessing performance in areas such as restoration of fiscal and debt sustainability; improving debt management and transparency; strengthening governance and financial sector stability; and strengthening financial management,” statement reads.
Mr Nkulukusa said the Ministry of Finance and National Planning is pleased to welcome the IMF Mission Team back to Lusaka and to have the opportunity to discuss Zambia’s positive reform progress and next steps in the program implementation.
He said government remains committed to delivering positive economic impacts for the country and improving the livelihoods of the Zambian people with the support of IMF.