IMF Greenlights $184 Million for Zambia

The International Monetary Fund has approved an immediate disbursement of $184 million to Zambia as part of its extended credit facility agreement. This brings Zambia's total receipts under the program to $1.3 billion, providing crucial support for the nation's economic recovery efforts.

The International Monetary Fund (IMF) announced on Monday that its executive board had approved a review enabling immediate disbursement of $184 million to Zambia. This funding is part of a 38-month extended credit facility arrangement.

According to the IMF's statement, this latest disbursement elevates Zambia's total access under the facility to $1.3 billion. The arrangement aims to stabilize the nation's economy amid ongoing challenges.

This financial support from the IMF is crucial as Zambia looks to bolster its recovery efforts in response to economic strains. Key reforms and fiscal adjustments will be vital in utilizing these funds effectively.

(With inputs from agencies.)