Govt, IMF sign $1.5bn deal – Zambia

GOVERNMENT and the IMF have signed a new US$1.5 billion which will run for the next three years. Speaking during a meeting, Friday, IMF Mission Chief for Zambia Edward Gemayel said the programme would commence in December this year and will be implemented at zero percent interest rate. “The expectation is that it will be implanted starting in December, then the amount in the new arrangement is $1.5 billion for three years, to be disbursed every after six months. On growth for now we estimate the potential growth for Zambia to be between five to 5.5 percent. That does not mean that growth cannot exceed this limit, depending on the transformation and investment in the economy that would be revised... .