IMF board endorses new loan deal with Zambia

The board at the International Monetary Fund said yes to a fresh three-year arrangement with Zambia under the Poverty Reduction and Growth Facility. The decision would allow the African nation to receive USD79.2 million in loan. The agreement aims to help the government achieve its economic objectives as outlined in the Fifth National Development Plan 2006-10 and Zambia’s Poverty Reduction Strategy Paper. (Press release: IMF Executive Board Approves USD79.2 Million PRGF Arrangement with Zambia/International Monetary Fund)