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IMF board approves $1.4 bln programme for Zambia -source

Aug 31 (Reuters) - The executive board of the International Monetary Fund on Wednesday approved a $1.4 billion extended credit facility programme for Zambia, a source with direct knowledge told Reuters.

In 2020, Zambia became the first African country in the pandemic era to default. The restructuring of its external debt, which amounted to more than $17 billion at the end of 2021, is seen by many analysts as a test case.

(Reporting by Jorgelina do Rosario; Additional reporting by David Lawder; Editing by Mark Porter)