The International Monetary Fund (IMF) said on Tuesday it has reached a staff-level agreement with Niger on a three-year credit facility worth some $278.5 million
WASHINGTON (Pakistan Point News / Sputnik - 02nd November, 2021) The International Monetary Fund (IMF) said on Tuesday it has reached a staff-level agreement with Niger on a three-year credit facility worth some $278.5 million.
"The Nigerien authorities and the IMF team reached a staff-level agreement on economic and structural policies and reforms that would underpin a new three-year arrangement under the Extended Credit Facility (ECF) with access to SDR (Special Drawing Rights) 197.4 million (equivalent to about US$ 278.5 million or 150 percent of quota)," IMF team head Ari Aisen said in a statement after the completion of series of virtual meetings with the Nigerien officials.
The agreement is the subject to IMF Management and Executive board approval, he added.
Aisen noted that the financing will help the country to obtain additional donor support.
