IMF approves $570m payout to Zambia, increasing loan to $1.7bn to address drought impacts.
The International Monetary Fund (IMF) has approved a $570m payout to Zambia, increasing its loan to $1.7bn to help the country cope with severe drought, leading to crop losses and power generation issues. The payout follows the IMF's executive board completing a third review of Zambia's Extended Credit Facility, and aims to support macroeconomic policies, restore fiscal and debt sustainability, and maintain economic growth.
June 26, 2024
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