Wednesday, May 20, 2015

IMF Executive Board Approves Three-Year US$69.7 Million Under ECF for Haiti

The Executive Board of the International Monetary Fund (IMF) approved a three-year SDR 49.14 million (about US$69.7 million, 60 percent of quota) arrangement under the Extended Credit Facility (ECF) for Haiti on Monday, May 18, 2015. The approval enables the immediate disbursement of an amount equivalent to SDR 7.02 million (about US$10 million), while the remaining amount will be phased over the duration of the arrangement, subject to semi-annual program reviews. The authorities’ ECF-supported program aims to raise Haiti’s growth potential and reduce vulnerabilities to shocks, while entrenching macroeconomic stability.

No comments:

Post a Comment