The IMF approved a USD 184 mln disbursement under Zambia’s 38-month extended credit facility, bringing total disbursements to USD 1.3 bln. Despite a severe drought in the October 2023-March 2024 farming season and low hydropower output, Zambia’s economy is projected to grow 1.2% in 2024, down from the initial 2.3% forecast. The IMF’s board highlighted satisfactory performance under the program despite these challenges.