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IMF Lends Burundi $6.9m

IMF Lends Burundi $6.9mIMF Lends Burundi $6.9m

The International Monetary Fund said that it would lend Burundi $6.9m to shore up the aid-dependent central African nation, months before a presidential election in June, VoA reported. The IMF also said it would lend Burundi $13.9 million in 2016 to “help strengthen the management of public finances and consolidate the country’s economic reform program.” The funds are part of IMF’s Extended Credit Facility regime, a financial support program for low-income countries that carries a zero interest rate. Burundi has received about $41.6 million through the program over the last three years.

Financialtribune.com