In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the 'SFA Instrument'). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a...

The concomitant external shocks experienced in 2008-09 by the East African Community (EAC) countries of Kenya, Rwanda, Tanzania, and Uganda and stepped-up support by the IMF—including the SDR allocation—and other donors, are likely to arouse renewed interest in the question of the adequate...

The East African Community (EAC) countries—Kenya, Tanzania, Uganda, and Rwanda—have been affected by the global financial crisis and global recession. The fall in global demand and inflows and tighter liquidity conditions abroad affected the countries in this region as elsewhere in...

An updated debt sustainability analysis (DSA) is prepared using the revised Low-income Countries Debt Sustainability Framework (LIC DSF) to assess Zambia's current debt situation. Debt burden indicators have deteriorated considerably since the October 2017 DSA mainly on account of large fiscal...

Zambia’s strong economic performance continues under the Extended Credit Facility arrangement. With a broadly unchanged macroeconomic outlook, the medium-term policy stance remains appropriate, but vigilance is warranted. The strengthening economy provides an opportunity for more rapid poverty...

Despite improved economic growth, poverty in Zambia remained formidable and called for fiscal consolidation to contain the domestic debt and interest payments that jeopardized macroeconomic stability and social spending. Macroeconomic outcomes during ECF-2 were particularly strong. The global...

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...

This paper examines Zambia’s 2003 Article IV Consultation and Ex Post Assessment of Performance Under IMF-Supported Programs. Zambia’s economic performance has improved significantly in the last four years. After more than two decades of economic decline and inflation averaging more than 50...

This paper reviews Zambia’s First Poverty Reduction Strategy Paper (PRSP) Implementation Progress Report covering January 2002–June 2003. The report describes the first one and half years of the implementation of the PRSP in four strategic areas, namely economic and social sectors,...

This Selected Issues paper on Zambia reports that the authorities have outlined a range of alternative policy scenarios to achieve greater pro-poor growth. The thrust of these policies is to support higher growth in rural areas, where the incidence of poverty is particularly high, by investing...