IMF board approves $1.8 billion for Senegal, frees $216 million immediately
2023.06.26 17:02
© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
(Reuters) – The Executive Board of the International Monetary Fund approved a 3-year Extended Credit Facility and Extended Fund Facility for about $1.51 billion with Senegal, and a $324 million arrangement under the Resilience and Sustainability Facility, the IMF said on Monday.
The EFF/ECF program will help address macroeconomic imbalances while the RSF arrangement will help with longer-term challenges related to climate change, the fund said.
The board’s decision allows for an immediate disbursement of about $216 million under the EFF/ECF, the IMF said.
