The International Monetary Fund's executive board has approved an immediate $189 million disbursement to Zambia following its first review of a $1.3 billion loan programme, the IMF said on Thursday.
last month with governments abroad including China to rework about $6.3 billion of its overseas debt.
"Timely implementation of this agreement, together with agreements with private creditors on comparable terms, should restore Zambia's debt sustainability over the medium term," she added. The IMF said that Zambia's performance under the support programme had been strong, and that all quantitative performance criteria for the first review had been met.
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