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IMF Provides Zambia 13 Million U.S. Dollar Poverty Cut Credit
The International Monetary Fund (IMF) has approved US$ 13.2 million credit to support Zambia's poverty reduction efforts, Times of Zambia newspaper reported Saturday.
Chileshe Kandeta, public relations official with the Ministry of Finance and Economic Development, said in a statement on Friday that the IMF executive board approved the credit as a result of Zambia's commitment to poverty reduction, improvement of accountability and transparency of budgetary management and control.
The government reiterates its commitment to providing a stable macroeconomic environment and adhering to prudent fiscal monetary policies.
He added that the loan agreement for the year 2000 under a three-year Poverty Reduction Growth Facility (PRGF) worth 336.3 million dollars had improved prospects for the enhanced economic growth and poverty reduction.
He said the government will ensure that the full reduction strategy plan is completed by mid-2001.
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