The program, approved by the Board of Directors of the Fund, is spread over 36 months, under the extended credit facility. This program aims to “restore macroeconomic stability and debt sustainability, as well as to implement far-reaching reforms to strengthen resilience and lay the foundations for stronger and more inclusive growth,” according to the managing director of the international institution, Kristalina

In a press release, she states that “fiscal consolidation is a central element of the program” as is “preserving the stability of the financial sector.” According to him, “an ambitious program of structural reforms is being put in place to reinvigorate private sector-led growth by improving the business environment, governance and productivity