The Executive Board of the International Monetary Fund (IMF) has approved a three-month extension of Zambia’s Extended Credit Facility (ECF) Arrangement. The extension, which lasts until January 30, 2026, is intended to provide additional time for the completion of the Sixth Review of the ECF Arrangement and to prepare for future program engagement.
Zambia’s ECF Arrangement was initially approved on August 31, 2022. At that time, the IMF granted access to SDR 978.2 million, equivalent to about US$1.3 billion and representing 100 percent of Zambia’s quota. In June 2024, the arrangement was increased by an additional 30 percent of quota—SDR 293.46 million or approximately US$385.7 million.
The decision by the Executive Board was made using its lapse-of-time procedure, which allows certain proposals to be approved without formal discussions if no objections are raised.