Minister of Finance Situmbeko Musokotwane and the IMF have reached an agreement for the Zambian Government to borrow US$1.4 billion under the IMF extended credit facility that will provide financial support over a period of three years.
The funding will be in addition to the 1.3 billion in Special Drawing Rights (SDR) which was received by the government in August this year.
Government now awaits the final approval of this deal by the IMF executive board.The agreement comes after rigorous discussions.
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