Zambia’s 2005 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility are discussed. Expenditure restraint, including on the wage bill, has helped to put the fiscal operations of the government on a sustainable course and contributed to the attainment of the...

The staff report for the Fifth and Sixth Reviews Under the Poverty Reduction and Growth Facility Arrangement discusses Zambia’s strong macroeconomic performance and budget execution. High copper prices and extensive debt relief helped to strengthen Zambia’s external position and allowed it...

Zambia’s strong performance continues under the Extended Credit Facility-supported program. All but one of the quantitative performance criteria were met, and structural reforms are progressing. In the aftermath of exchange rate and copper price fluctuations, the financial sector’s recovery...

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...