IMF Executive Board Concludes the 2023 Article IV Consultation with Zambia and Completes the First Review Under the Extended Credit Facility Arrangement

Zambia’s ECF Arrangement is for a total of SDR 978.2 million (100 percent of quota) or about US$1.3 billion at the time of program approval on August 31, 2022 (see Press Release 22/297). It seeks to support Zambia’s homegrown economic reform plan that seeks to restore macroeconomic stability and foster higher, more resilient, and more inclusive growth.

IMF Staff Completes 2023 Article IV Mission to Botswana

“Following a strong recovery of almost 12 percent growth in 2021, Botswana‘s economy grew by 5.8 percent in 2022, significantly above the long-run average of 4 percent. The recovery from the pandemic primarily reflects elevated mining production, but also robust manufacturing and construction. After peaking at 14.6 percent in August 2022, inflation has fallen gradually to 4.6 percent in June 2023, with lower oil prices delivering a steep decline in transport inflation. This has helped return inflation to the Bank of Botswana’s medium-term objective range of 3 - 6 percent.

EIB Group Pride Week 2023

From 3 to 8 July 2023, the EIB Group joined the celebration of Luxembourg Pride Week, organising a series of events to engage with its staff and foster inclusion. To mark the week and show the Group’s commitment to protecting and promoting the rights of LGBTIQ people worldwide, The Chair, the monumental artwork located outside EIB headquarters in Luxembourg, was lit up in rainbow colours for a few hours at night.

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