World Economy

IMF Approves Gambia Loan

IMF Approves Gambia LoanIMF Approves Gambia Loan

The executive board of the International Monetary Fund has recently endorsed the disbursement of $16.1 million emergency financial assistance to the Gambia government, AllAfrica reported. The disbursement was under the Rapid Credit Facility, a lending arrangement through which IMF provides rapid financial support in a single, up-front payout for low-income countries facing urgent financing needs. IMF said, the $16.1 million was approved “to enable the authorities to meet their urgent balance of payment needs and “a precariously low level” of usable international reserves.

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