IMF to grant Zambia financial relief in return for ‘bold’ reforms | The Guardian Nigeria News - Nigeria and World News

IMF to grant Zambia financial relief in return for ‘bold’ reforms | The Guardian Nigeria News - Nigeria and World News

Imf, Zambia

12/3/2021 9:28:00 PM

IMF to grant Zambia financial relief in return for ‘bold’ reforms | The Guardian Nigeria News - Nigeria and World News

The International Monetary Fund ( IMF ) has announced plans to give financial relief to Zambia in return for economic reforms.

Holland said that a three-year reform programme in the heavily indebted landlocked country could be supported with loans of up to 1.4 billion dollars.“This agreement is based on the authorities’ plans to undertake bold and ambitious economic reforms.”

She said further details would be announced on Monday.The statement stressed that such an agreement would still need approval from the relevant bodies.Africa’s former flagship democracy, with its rich copper deposits, is in the midst of an economic crisis, exacerbated by strict coronavirus-related restrictions.

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