Zambia: Request for Three-Year Arrangement Under the Poverty Reduction and Growth Facility-Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Zambia

July 29, 2004

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Zambia: Request for Three-Year Arrangement Under the Poverty Reduction and Growth Facility-Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Zambia, (USA: International Monetary Fund, 2004) accessed October 4, 2024

Summary

This paper examines Zambia’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Through end-March, most of the key quantitative benchmarks and six of the eight structural benchmarks under the Staff-Monitored Program (SMP) were observed. The PRGF-supported program is based on a strong fiscal adjustment envisaged in the 2004 budget and a modest growth of reserve money. A sharp decline in domestic financing of the budget relies on expenditure restraint. Despite the adjustment, the government targets a significant increase in poverty-reducing spending.

Subject: Asset and liability management, Banking, Budget planning and preparation, Debt relief, Debt service, External debt, Poverty, Poverty reduction, Public financial management (PFM)

Keywords: Broad money growth, Budget planning and preparation, CR, Debt relief, Debt service, East Africa, Global, Government, Government operation, ISCR, Poverty reduction, SMP target, Southern Africa, Sub-Saharan Africa, Wage arrears, Zambian authorities

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/222
Stock No:

1ZMBEA0052004
ISBN:

9781451841220
ISSN:

1934-7685

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