Zambia: Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria, and Financing Assurances Review

International Monetary Fund

No 2010/383, IMF Staff Country Reports from International Monetary Fund

Abstract: Zambia showed strong economic performance with robust growth and moderating inflation under the Extended Credit Facility (ECF). It showed sound macroeconomic policies and progress in structural reforms. The Zambian authorities consider their main challenge to create fiscal space for priority spending, enhance economic diversification, and reduce poverty. The strengthening of debt management and project appraisal capacity are critical in this regard. To meet the financing needs for addressing growth-critical infrastructural requirements, the Zambian authorities requested a waiver for the nonobservance of a performance criterion on nonconcessional external debt.

Keywords: ISCR; CR; authority; government support; financing; Zambian authorities; discussion of Zambia; executive board's discussion; authorities request; Government debt management; Monetary base; Budget planning and preparation; Credit; Middle East; Africa; Global; Central Asia; East Asia (search for similar items in EconPapers)
Pages: 72
Date: 2010-12-27
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