Tag Archives: ECF
Zambia’s economy is looking bright after the recent IMF visit to the country to further discussions on the 2017 Article IV consultation. The country has grown in foreign investors towards Zambia’s government securities market and also a good climatic condition – marked by moderate rainfall to support the agricultural sector. The country has also requested for an IMF-Supported program. According to the IMF team, the Zambian economy has witnessed a positive growth which could possibly allow the country to be supported by IMF’s Extended Credit Facility (ECF). The ECF provides financial assistance to countries with protracted balance of payments problems. As it stands now, the IMF seeks to reach more understanding of the country and based on that grant Zambia’s ECF request.
Togo will receive about US$241.5million from the IMF under the Extended Credit Facility (ECF) – a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems of the IMF. The fund is provided under a three year arrangement and is expected to be used in support of Togo’s economic and financial reform. In the first phase, the country will receive US$34.5 million while the remaining money will be given out following semi-annual reviews by IMF over the three year period. ECF-supported program aims to reinforce macroeconomic stability and to promote sustainable and inclusive growth. It aims to reduce the overall fiscal deficit substantially upfront to ensure long-term debt and external sustainability; refocus policies on sustainable and inclusive growth through targeted social spending and infrastructure spending that is financially sustainable; and resolve the existing financial sector weaknesses, especially in the two public banks.