Audio By Carbonatix
The International Monetary Fund has reached a staff-level agreement with Zambia on the second review of its Extended Credit Facility.
This unlocks another $184 million upon IMF board approval, the Fund said on Monday.
The IMF's Mission Chief for Zambia added in a statement that the Fund welcomed Zambia's memorandum of understanding with its official creditors and ongoing discussions with private creditors to reach an agreement on debt restructuring.
She said Zambia may need to further tighten monetary policy to contain inflationary pressures and that building reserves would enhance the Southern African country's external resilience.
Earlier on Monday, Zambia suffered a major setback in its debt-restructuring efforts after the government said a revised deal to rework $3 billion of Eurobonds could not be implemented at this time due to objections from official creditors, including China.
Latest Stories
-
NHIA donates GH¢800k to Ghana Medical Trust Fund to support NCD patients
10 minutes -
NDC begins nationwide membership registration today with new party register
19 minutes -
NDC’s Ayawaso East vote-buying probe committee set to submit findings today
25 minutes -
Ghana Medical Trust Fund assesses regional hospitals ahead of NCD care rollout
33 minutes -
Offinso MP blames Mahama gov’t for cocoa sector challenges
48 minutes -
Baba Jamal’s recall not targeted, decision based on allegations – Kwakye Ofosu
49 minutes -
Ayawaso Zongo chiefs caution NDC against cancelling Ayawaso East primary
52 minutes -
COCOBOD failed to deliver over 330k tonnes of cocoa in 2023/24 season – Randy Abbey
55 minutes -
Baba Jamal denies vote-buying claims, cooperates with NDC probe into Ayawaso East primary
56 minutes -
COCOBOD in its most fragile state in nearly eight decades — CEO Randy Abbey
1 hour -
The dichotomy of living with mental and chronic illnesses
1 hour -
Offinso MP urges COCOBOD to be frank with farmers over cocoa sector challenges
1 hour -
Ghana shifts debt strategy towards multilateral, bilateral funding in 2025
1 hour -
Projects with extractive-sector funding: Civil society groups raise alarm
2 hours -
Mahama charges envoys to articulate a Ghanaian voice that speaks with clarity
2 hours