Browsing: Extended Credit Facility (ECF

Whereas a complexity of concerns presages a landscape beset with considerable difficulties in the year ahead, Sierra Leone's debt-to-GDP burden should be of particular concern to leaders and key stakeholders.

Sierra Leone stands among the countries with a worrying economic and debt situation.
In June 2022, the IMF Executive Board allowed the disbursement of around $20.8 million to Sierra Leone to boost its budget financing and social spending.
Sierra Leone’s government should keep improving public debt management while raising openness and accountability.

Notwithstanding the pos...

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The Executive Board of the International Monetary Fund (IMF) approved a disbursement under the Rapid Credit Facility (RCF) of about $69.49 million to Chad to address urgent balance of payment needs stemming from the COVID-19 pandemic.

This is the second funding in three months under RCF to address financing needs arising from the pandemic, which brings the country’s total IMF support since COVID -19 pandemic outbreak to $183.60 million. The board also confirmed the cancellation of the Extended Credit Facility (ECF) arrangement which was to expire end of September this year.

The IMF’s second RCF will provide timely support for the implementation of additional measures to address the COVID-19 crisis and lessen its severe impact. Chad’s authorities are also taking steps to ensure transparency and accountability in the use of COVID-related resources, including an ex-post audit of crisis-related spending and the publication of crisis-related procurement contracts.

The Chadian economy continues …