Zambia Seeks 12-Month Extension to IMF Deal Ahead of Elections
Zambia's government has approved seeking a 12-month extension to its International Monetary Fund (IMF) program. This decision aims to maintain fiscal discipline ahead of the country's presidential and parliamentary elections scheduled for August 2023. The extension is expected to reassure Zambia's creditors and help the nation retain tighter control over its spending during the election period. The move comes as Zambia works to restructure its debt and stabilize its economy, which has been impacted by the COVID-19 pandemic and other factors. The extension of the IMF program is seen as a positive step in Zambia's efforts to address its financial challenges and maintain economic stability in the lead-up to the upcoming elections.
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