{"id":45270,"date":"2023-07-15T18:44:25","date_gmt":"2023-07-15T18:44:25","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support"},"modified":"2023-07-15T19:18:57","modified_gmt":"2023-07-15T19:18:57","slug":"situmbeko-happy-that-economy-is-on-track-following-multilateral-support","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support","title":{"rendered":"Situmbeko happy that economy is on track following multilateral support"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zambia. <\/strong><\/span>Finance Minister Situmbeko Musokotwane has expressed confidence that the country\u2019s debt burden will soon be brought under control.<\/p>\n<p>The minister says following the review by the country\u2019s official creditors resulting in the disbursement of 189 million US dollars under the Extended Credit Facility (ECF) the country\u2019s economy will soon be back on track.<\/p>\n<p>Mr. Musokotwane said this at a press briefing in Lusaka today.<\/p>\n<p>He said the successful review by the International Monetary Fund (IMF), the World Bank and other multilateral lenders means that the country will now have more resources channeled into infrastructure development to support investment.<\/p>\n<p>Mr. Musokotwane said the government is on course to ensure that the country\u2019s debt situation is brought under control to encourage investment.<\/p>\n<p>He said going forward the country will focus on getting a deal with private creditors in the second review.<\/p>\n<p>Meanwhile, Bank of Zambia Governor Denny Kalyalya said 50 percent of the 189 million US dollars of the Extended Credit Facility will be channeled to budget support while the other 50 percent will be put into foreign reserve build up.<\/p>\n<p>On July 13 2023 the country\u2019s official creditors comprising the IMF, World Bank and other multilateral lenders successfully reviewed Zambia\u2019s reform efforts resulting in the disbursement of 189 million US dollars under the Extended Credit Facility.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zambia\">Zambia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zambia. Finance Minister Situmbeko Musokotwane has expressed confidence that the country\u2019s debt burden will soon be brought under control. The minister says following the review by the country\u2019s official creditors resulting in the disbursement of 189 million US dollars under the Extended Credit Facility (ECF) the country\u2019s economy will soon be back on [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":45269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,235,233],"class_list":["post-45270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Situmbeko happy that economy is on track following multilateral support - Zambia<\/title>\n<meta name=\"description\" content=\"Finance Minister Situmbeko Musokotwane has expressed confidence that the country\u2019s debt burden will soon be brought unde ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Situmbeko happy that economy is on track following multilateral support\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Situmbeko Musokotwane has expressed confidence that the country\u2019s debt burden will soon be brought unde ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-15T18:44:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-15T19:18:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2023\/07\/sm_1689432281.666812.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"515\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Situmbeko happy that economy is on track following multilateral support\",\"datePublished\":\"2023-07-15T18:44:25+00:00\",\"dateModified\":\"2023-07-15T19:18:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support\"},\"wordCount\":236,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2023\/07\/sm_1689432281.666812.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/situmbeko-happy-that-economy-is-on-track-following-multilateral-support\",\"name\":\"Situmbeko happy that economy is on track following multilateral support - 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