Zambia: Fourth Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; and Press Release on the Executive Board Consideration

July 19, 2006

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Format: Chicago

Zambia: Fourth Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; and Press Release on the Executive Board Consideration, (USA: International Monetary Fund, 2006) accessed September 18, 2024

Summary

Zambia has achieved robust economic growth over the years, and poverty has begun to trend downward under the Poverty Reduction and Growth Facility Arrangement. Prudent fiscal policy has reduced the domestic financing need and facilitated the implementation of a firmer monetary policy. Executive Directors agreed that the relief under the economic program and the Multilateral Debt Relief Initiative has reduced its external debt, and its economic fundamentals have helped in gaining market confidence. They advised the authorities to maintain macroeconomic stabilization and stressed the need to accelerate structural reform.

Subject: Asset and liability management, Debt relief, Expenditure, External debt, Monetary base, Money, Revenue administration

Keywords: Broad money, CR, Debt relief, Debt service, Global, ISCR, Monetary base, PRGF arrangement, PRGF loan, PRGF-supported program, Sub-Saharan Africa, U.S. dollar

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/263
Stock No:

1ZMBEA2006003
ISBN:

9781451841299
ISSN:

1934-7685

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