Zambia : cash transfer

Project to transfer $15 million in cash to the Government of Zambia (GRZ) for use in its program to promote a market-based foreign exchange system by auctioning available foreign exchange.

1985

Abstract

The GRZ will make $10 million per month of foreign exchange available to public bids through the auction program and will adequately publicize it; A.I.D. funds will be released in weekly tranches - $1 million for the first 10 weeks of the program and $0.5 million thereafter. Amendment of 1/2/87 provides an additional $12,215 million to support the GRZ foreign exchange auction system, which has proven vital to GRZ economic reform efforts as well as an effective means of quickly alleviating a crippling foreign exchange shortage. (The amendment notes that an additional $2 million grant had been approved 9/26/86.) (PD-ABA-533)

Connected topics

Policy reform1,449→

Classification

Document type: Project & Program Design
DEC type: Project/Program/Activity Design Document
Geography: Zambia
DEC terms: Balance of paymentsCapital marketsCash transfersEconomic assistanceEconomic policyEconomic Support FundForeign exchangeHost country cooperationMarket economyNonproject assistancePolicy reform
Authoring organization: USAID. Mission to Zambia
Language: English

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