April 21, 2017 / 5:28 PM / in 8 months

Zambia expects $1.6 bln IMF loan over three-year period - presidential spokesman

LUSAKA, April 21 (Reuters) - Zambia is likely to receive $1.6 billion from the International Monetary Fund (IMF) later this year, the presidency said on Friday, with a review meeting set for June to finalise the agreement.

“Our budget is in October, so they want to ensure that all the things that come with the IMF programme are part of our budget. It is likely to be $1.6 billion over a three-year period starting in September so that it fits into our budget cycle,” presidential spokesman Amos Chanda told Reuters.

Chanda had said earlier this week that key elements of the programme were expected to be agreed by the end of this month. (Reporting by Chris Mfula; Writing by Olivia Kumwenda-Mtambo; Editing by Janet Lawrence)

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