Zambia: IMF Board approval is major milestone and provides lessons for other EM
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IMF Board approval for Zambia's ECF was finally granted c2 years after default and c9 months after staff-level approval
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Paves way for creditors to hash out restructuring terms, with private committee to finally be included more formally
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Unclear if this foreshadows more urgency from official sector in other cases like Sri Lanka, which was granted SLA today
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