Zambia Gets $570 Million From IMF as Drought Takes Toll
- Nation is dealing with its worst drought in almost 60 years
- Funds will assist Zambia in attaining fiscal sustainability
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The International Monetary Fund agreed to immediately disburse $569.6 million to Zambia, boosting the country’s foreign-exchange reserves as it deals with its worst drought in almost 60 years.
The money includes an augmentation of $385.7 million, the IMF said in a statement Wednesday following an executive board meeting.