Zambia: First and Second Reviews of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waivers of Nonobservance of Performance Criteria, and Augmentation of Access: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director of Zambia

International Monetary Fund

No 2009/188, IMF Staff Country Reports from International Monetary Fund

Abstract: Zambia’s nonperforming loans are expected to increase and banks have become more cautious in their lending. The staff report for the Zambia’s first and second reviews of the Three-Year Arrangement under the Poverty Reduction and Growth Facility and request for Waivers of Nonobservance of Performance Criteria, and Augmentation of Access is examined. The slowdown in external demand and uncertainty about the global outlook have negatively affected growth prospects and the balance of payments, and made the program targets for reserve accumulation unattainable.

Keywords: ISCR; CR; growth facility; Three-Year arrangement; Three-Year; request; nonobservance; program implementation; growth performance; sector strategy; International reserves; Inflation; Metal prices; Global (search for similar items in EconPapers)
Pages: 63
Date: 2009-06-16
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