World Economy

IMF Loan for Chad

IMF Loan for ChadIMF Loan for Chad

The International Monetary Fund has approved a $312 million three-year credit program for Chad to help boost an economy hit by low oil prices, big debt and lasting security issues, Reuters reported. The Extended Credit Facility, $48.8 million of which will be made available immediately, aims to help diversify the economy away from oil, reduce debt and bolster security. “Chad’s macroeconomic and financial performances have deteriorated significantly over the past two years, against the backdrop of low oil prices, tense regional security situation, and a heavy external commercial debt burden,” said David Lipton, the IMF’s first deputy managing director, said in a statement late on Friday.



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