Advertisement The East African Business IMF board approves $271m loan for Burundi Tuesday July 18 2023 The International Monetary Fund logo. PHOTO | REUTERS Advertisement By REUTERS More by this Author The International Monetary Fund's executive board has approved a $271 million Extended Credit Facility for Burundi, with an immediate disbursement of over $62 million, the IMF said in a statement late on Monday.The country's economy is just starting to recover from years of conflict and political upheaval under former leader Pierre Nkurunziza that left key sectors blighted.The IMF said the loan facility will help address Burundi's protracted balance of payments needs, rebuild external buffers and support the government's reform agenda.Read: Burundi receives $261m IMF loanIt said this was Burundi's first Upper Credit Tranche-quality arrangement with the IMF since 2015 and that it was expected to "catalyse donor funding, which is essential to cater to Burundi's large financing needs and support its exit from fragility". Related Burundi president says youth key to economic growth IMF approves Burundi debt relief Advertisement Advertisement In the headlines Kenya's competitiveness falling as neighbours rise Kenya has only outperformed neighbours in diaspora remittances, which have in the past decade risen to become the country’s top source of dollar. Uganda army under EACRF begins withdrawal The exit of the Uganda forces follows DRC's decision not to extend the mandate of the EACRF beyond December 8, 2023. Burundi jails ex-PM over attempted coupUS sanctions Uganda prisons boss over torture claimsBurhan attends Igad summit since Sudan war began Sudan’s peers move to secure peace dealMixed reactions as UN lifts arms ban on Somalia after joining EAC
Advertisement The East African Business IMF board approves $271m loan for Burundi Tuesday July 18 2023 The International Monetary Fund logo. PHOTO | REUTERS Advertisement By REUTERS More by this Author The International Monetary Fund's executive board has approved a $271 million Extended Credit Facility for Burundi, with an immediate disbursement of over $62 million, the IMF said in a statement late on Monday.The country's economy is just starting to recover from years of conflict and political upheaval under former leader Pierre Nkurunziza that left key sectors blighted.The IMF said the loan facility will help address Burundi's protracted balance of payments needs, rebuild external buffers and support the government's reform agenda.Read: Burundi receives $261m IMF loanIt said this was Burundi's first Upper Credit Tranche-quality arrangement with the IMF since 2015 and that it was expected to "catalyse donor funding, which is essential to cater to Burundi's large financing needs and support its exit from fragility". Related Burundi president says youth key to economic growth IMF approves Burundi debt relief Advertisement Advertisement In the headlines Kenya's competitiveness falling as neighbours rise Kenya has only outperformed neighbours in diaspora remittances, which have in the past decade risen to become the country’s top source of dollar. Uganda army under EACRF begins withdrawal The exit of the Uganda forces follows DRC's decision not to extend the mandate of the EACRF beyond December 8, 2023. Burundi jails ex-PM over attempted coupUS sanctions Uganda prisons boss over torture claimsBurhan attends Igad summit since Sudan war began Sudan’s peers move to secure peace dealMixed reactions as UN lifts arms ban on Somalia after joining EAC
Advertisement By REUTERS More by this Author The International Monetary Fund's executive board has approved a $271 million Extended Credit Facility for Burundi, with an immediate disbursement of over $62 million, the IMF said in a statement late on Monday.The country's economy is just starting to recover from years of conflict and political upheaval under former leader Pierre Nkurunziza that left key sectors blighted.The IMF said the loan facility will help address Burundi's protracted balance of payments needs, rebuild external buffers and support the government's reform agenda.Read: Burundi receives $261m IMF loanIt said this was Burundi's first Upper Credit Tranche-quality arrangement with the IMF since 2015 and that it was expected to "catalyse donor funding, which is essential to cater to Burundi's large financing needs and support its exit from fragility". Related Burundi president says youth key to economic growth IMF approves Burundi debt relief Advertisement
Kenya's competitiveness falling as neighbours rise Kenya has only outperformed neighbours in diaspora remittances, which have in the past decade risen to become the country’s top source of dollar. Uganda army under EACRF begins withdrawal The exit of the Uganda forces follows DRC's decision not to extend the mandate of the EACRF beyond December 8, 2023. Burundi jails ex-PM over attempted coupUS sanctions Uganda prisons boss over torture claimsBurhan attends Igad summit since Sudan war began Sudan’s peers move to secure peace dealMixed reactions as UN lifts arms ban on Somalia after joining EAC