The International Monetary Fund (IMF) approved March 14, 2018, a new three-year agreement of about 158 million dollars (90 billion FCFA) in Burkina Faso, under the Extended Credit Facility (ECF).
The International Monetary Fund (IMF) approved March 14, 2018, a new three-year agreement of about 158 million dollars (90 billion FCFA) in Burkina Faso, under the Extended Credit Facility (ECF).
It is, indeed, an envelope in support of the national program of economic and financial reforms. According to a statement from the institution, the program aims to achieve a sustainable balance of payments position, achieve inclusive growth and reduce poverty by creating fiscal space for priority spending in the areas of social policy and investment in infrastructure.
“It also aims to catalyze official and private financing, as well as build resilience to future economic shocks,” he says.
In addition, announces the release, this decision allows to immediately disburse about 26.3 million dollars. The balance will be spread over the duration of the program, subject to half-yearly reviews.
