Zambia: Request for Three-Year Arrangement Under the Poverty Reduction and Growth Facility-Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Zambia
July 29, 2004
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This paper examines Zambia’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Through end-March, most of the key quantitative benchmarks and six of the eight structural benchmarks under the Staff-Monitored Program (SMP) were observed. The PRGF-supported program is based on a strong fiscal adjustment envisaged in the 2004 budget and a modest growth of reserve money. A sharp decline in domestic financing of the budget relies on expenditure restraint. Despite the adjustment, the government targets a significant increase in poverty-reducing spending.
Subject: Asset and liability management, Banking, Budget planning and preparation, Debt relief, Debt service, External debt, Poverty, Poverty reduction, Public financial management (PFM)
Keywords: broad money growth, Budget planning and preparation, CR, Debt relief, Debt service, East Africa, Global, government, government operation, ISCR, Poverty reduction, SMP target, Southern Africa, Sub-Saharan Africa, wage arrears, Zambian authorities
Pages:
102
Volume:
2004
DOI:
Issue:
222
Series:
Country Report No. 2004/222
Stock No:
1ZMBEA0052004
ISBN:
9781451841220
ISSN:
1934-7685
