Washington, DC: The Executive Board of the International Monetary Fund (IMF) approved the Zambian authorities' request for a three-month extension of the country's Extended Credit Facility (ECF) Arrangement until January 30, 2026 to allow sufficient time to complete the Sixth Review of the ECF Arrangement and lay the groundwork for future program engagement.
The 38-month ECF Arrangement was approved by the Executive Board on August 31, 2022, with access of SDR 978.2 million (100 percent of quota, or about US$1.3 billion). (See Press Release No. 22/297 ). The ECF Arrangement was augmented by 30 percent of quota (SDR 293.46 million, about US$385.7 million) in June 2024 (See Press Release No. 24/242).
The Executive Board's decision was taken on a lapse-of-time basis. [1]
[1] The Executive Board takes decisions under its lapse-of-time procedure when a proposal can be considered without convening formal discussions.
