By BUUMBA CHIMBULU
THE International Monetary Fund (IMF) board has approved an augmentation of Special Drawing Rights (SDR) of about US$385.7 million for Zambia.
IMF Deputy Managing Director, Antoinette Sayeh, announced this following the completion of the third review of Zambia’s 38-month Extended Credit Facility (ECF) Arrangement.
The completion of the review allowed for an immediate disbursement of about US$569.6 million, bringing Zambia’s total disbursement so far under the ECF-supported programme to approximately US$1.1 billion.
Ms Sayeh noted that Zambia’s ECF Arrangement, initially approved on August 31, 2022, for US$1.3 billion, has now increased access to about US$1.7 billion following CLICK HERE TO READ MORE
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