Zambia: Sixth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Zambia

International Monetary Fund

No 2011/196, IMF Staff Country Reports from International Monetary Fund

Abstract: Zambia’s strong economic performance continues under the Extended Credit Facility arrangement. With a broadly unchanged macroeconomic outlook, the medium-term policy stance remains appropriate, but vigilance is warranted. The strengthening economy provides an opportunity for more rapid poverty reduction and employment creation. The fiscal program remains appropriate. As the government moves to tap the sovereign bond market, it will be important to strengthen debt and liquidity management capacity. Reforming the pricing and marketing system for maize remains critical. Executive Directors support the Bank of Zambia (BoZ)’s monetary policy tightening.

Keywords: ISCR; CR; ECF arrangement; commercial banks government securities stock; authority; complying disbursement; IMF support; post assessment exercise; Monetary base; Inflation; Credit; Capital spending; Global; Sub-Saharan Africa; Asia and Pacific (search for similar items in EconPapers)
Pages: 52
Date: 2011-07-20
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