Zambia: Request for Three-Year Arrangement Under the Poverty Reduction and Growth Facility-Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Zambia

International Monetary Fund

No 2004/222, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper examines Zambia’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Through end-March, most of the key quantitative benchmarks and six of the eight structural benchmarks under the Staff-Monitored Program (SMP) were observed. The PRGF-supported program is based on a strong fiscal adjustment envisaged in the 2004 budget and a modest growth of reserve money. A sharp decline in domestic financing of the budget relies on expenditure restraint. Despite the adjustment, the government targets a significant increase in poverty-reducing spending.

Keywords: ISCR; CR; wage arrears; government; SMP target; broad money growth; Zambian authorities; government operation; Debt relief; Poverty reduction; Budget planning and preparation; Debt service; Southern Africa; Global; Sub-Saharan Africa; East Africa (search for similar items in EconPapers)
Pages: 102
Date: 2004-07-29
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