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Zambia needs bilateral debt relief to secure next payout

The next International Monetary Fund payout to Zambia from a total loan of $1.3 billion is contingent upon its bilateral creditors reaching an agreement on a long-delayed debt restructuring, the. | April 6, 2023 ....

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IMF: Zambia needs bilateral debt relief to secure next payout

The next International Monetary Fund (IMF) payout to Zambia from a total loan of $1.3 billion is contingent upon its bilateral creditors reaching an agreement on a long-delayed debt restructuring, the Fund said in a statement on Thursday. ....

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Zambia may seek longer to repay debts, finance minister says

Zambia may seek talks with creditors to extend its debt repayments after reaching a preliminary deal with the International Monetary Fund (IMF) for a $1.4 billion facility, Finance Minister Situmbeko Musokotwane said on Tuesday. ....

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Zambia's central bank to raise cap on foreign exchange transactions

Zambia's central bank will increase the daily limit for foreign currency exchange transactions, it announced on Thursday, as part of an effort to draw transactions into official channels and reduce complication for businesses. ....

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UPDATE 1-Zambia's central bank to raise cap on foreign exchange transactions

By Reuters Staff
(Adds central bank statement)
LUSAKA, May 27 (Reuters) - Zambia’s central bank will increase the daily limit for foreign currency exchange transactions, it announced on Thursday, as part of an effort to draw transactions into official channels and reduce complication for businesses.
Commercial bank customers will be allowed to exchange $10,000 per day, increased from $5,000. Customers at retail foreign exchange bureaus will be permitted to exchange up to $5,000, raised from $1,000, Central Bank Governor Christopher Mvunga said.
“This will allow for a regulated, systematic market where people can transact within the formal channels,” Mvunga said of the measures, which will take effect on June 1. ....

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