IMF reaches agreement with Benin on $658m extended credit facility
The programme is intended to help the West African country address pressing financing needs related to security, the impact of the Covid-19 pandemic and the war in Ukraine, as well as anchor its national development plan, the IMF said.
"IMF staff and the Beninese authorities have reached agreement on an innovative programme - first case under the IMF's High Combined Credit Exposure (HCCE) policy - to support the economy in the near-term while advancing policies and reforms to foster sustained private-sector led growth," it said.
The agreement is subject to approval by IMF Management and the Executive Board around mid-June 2022.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/
Related
$474.6m funding for SA's energy and infrastructure overhaul 3 days Zimbabwe says gold-backed currency stable but investor doubts persist 19 Jun 2025 SA's G20 leaders to gather in the US to drive change 16 Apr 2025 South Africa makes historic leap as first African nation to head the G20 3 Dec 2024 RMB: Africa's top investment destinations 12 Aug 2024 African bank stress test flags systemic risks posed by nature loss 16 Jul 2024
