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Posts tagged as “IMF”

IMF and Senegal Forge $1.85 Billion Deal to Boost Economy and Tackle Climate Change

The International Monetary Fund (IMF) and Senegalese authorities have reached a staff-level agreement on economic and financial policies, paving the way for a new financing arrangement. The agreement includes a 36-month Extended Fund Facility (EFF) and Extended Credit Facility (ECF) with access to approximately US$1.526 billion. Additionally, Senegal will receive support from the Resilience and Sustainability Facility (RSF) amounting to around US$327.1 million. The agreement is subject to approval by IMF Management and consideration by the Executive Board, scheduled for mid-June 2023.

IMF Approves $153 Million Disbursement to Tanzania in Budgetary Support

The International Monetary Fund (IMF) has approved the first review of Tanzania's three-year extended credit facility, which will allow an immediate disbursement of approximately $153 million in budgetary support. The IMF stated that Tanzania's economic reform program was progressing well in a challenging global economic environment. However, authorities must work to boost domestic revenues while stepping up structural reforms to streamline bureaucracy and combat corruption.

IMF Reaches Staff-Level Agreement with Somalia on Extended Credit Facility

An International Monetary Fund (IMF) team, led by Laura Jaramillo, conducted constructive and fruitful discussions with Somali authorities in Nairobi from March 7 to 14, 2023, and reached a staff-level agreement on the fifth review under the Extended Credit Facility (ECF) arrangement. In attendance were, the Minister of Finance, the Minister of Planning, the Central Bank Governor as well as other government officials, and development partners.

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