ZM-Econ Mgmt & Growth Credit (FY05)

closed

This program document presents a proposed development credit to The Republic of Zambia to finance an Economic Management and Growth operation (EMGC) to support the Government's structural reform program and implementation of Zambia's Poverty Reduction Strategy Paper (PRSP). The proposed credit is the first structural adjustment operation to support policy and institutional reforms as outlined in the new Country Assistance Strategy (CAS), which was discussed by the Board on March 9, 2004. At that time Zambia was judged to be in the low case scenario of the CAS. Since the discussion at the Board, improvements have been made in macroeconomic management as reflected by conclusion of an IMF Poverty Reduction and Growth Facility (PRGF) plus progress towards HIPC completion and key governance issues.