IMF Board Grants Zambia Three-Month Extension on Credit Facility Review
The Executive Board of the International Monetary Fund (IMF) has approved Zambia’s request for a three-month extension of its Extended Credit Facility (ECF) Arrangement to January 30, 2026.
The extension is intended to allow sufficient time for the completion of the programme’s Sixth Review and to prepare the ground for future engagement.
Zambia’s 38-month ECF programme was originally approved on August 31, 2022, with access to SDR 978.2 million (100 percent of quota, or about US$1.3 billion).
The arrangement was later augmented in June 2024 by 30 percent of quota, equivalent to SDR 293.46 million (about US$385.7 million).
The Fund noted that the Executive Board’s approval was granted on a lapse-of-time basis, a procedure used when there is broad agreement among directors, without the need for a formal meeting.
