Category: Economy

The Executive Board of the International Monetary Fund (IMF) has approved for the immediate disbursement of 189 million dollars under the Extended Credit Facility Arrangement. This brings Zambia’s total disbursements under the Extended Credit Facility Arrangement to about 374 million dollars. The facility seeks to support Zambia’s homegrown economic reform plan to restore macroeconomic stability and foster higher, more resilient, and more inclusive growth. IMF Managing Director, KRISTALINA GEORGIEVA says Zambia has made commendable efforts over the past two years to stabilize the economy, despite the continuation of significant external… Read More Here

Zambia’s overseas bondholders have entered into non-disclosure agreements (NDA) with the government as of Wednesday July 12th, according to three sources, a key step marking the beginning of formal talks to restructure over $3 billion of international bonds. The government is expected to share with some of its biggest international bondholders – members of the creditor committee – detailed information that will form the basis of debt restructuring talks as early as Wednesday, said the sources with direct knowledge, who asked not to be identified because talks are private. The… Read More Here