IMF board to meet on July 12 for first review of Zambia’s programme -sources
2023.06.28 14:40
© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
By Jorgelina do Rosario
LONDON (Reuters) – The International Monetary Fund executive board will meet on July 12 to complete the first review of its $1.3 billion extended fund facility (EFF) programme for Zambia, according to people with direct knowledge of the matter.
The board meeting comes after Africa’s second-biggest producer clinched a deal with bilateral creditors such as China and the Paris Club to rework about $6.3 billion of overseas debt. The country will have access to around $188 million after the review is completed.
The IMF reached in April a staff-level agreement on the first review, but a debt restructuring agreement with official creditors was needed before the board could complete the programme’s review.
An IMF spokesperson didn’t immediately reply to a request for comment.
