The IMF has agreed a new three-year financing package to help Zambia cut poverty and the country could borrow up to $150 million per year and still sustain its debt position, officials said on Thursday.
Finance Minister Ng'andu Magande and the International Monetary Fund said in separate statements they had agreed a new three-year poverty reduction growth facility (PRGF), after the expiry of the previous $320 million PRGF in 2007.
Magande said the Treasury was now calculating figures for the new facility but it would be less than the previous agreement.
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Posted
Mar 08 2008, 03:41 PM
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memeza / Zambian News