World Economy
0

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.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com