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Extended Credit Facility: IMF concludes a service agreement with Burkina Faso

15/03/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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A team from the International Monetary Fund (IMF), led by Martin Schindler, Head of Mission for Burkina Faso, was in Ouagadougou from February 29 to March 7. An agreement was signed for a total amount of 228.76 million SDR (302 million dollars)

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The IMF team reviewed macroeconomic policies as part of the first macroeconomic policies as part of the first review of the quadrennial program supported by the Extended Credit Facility (ECF) agreement and to conduct consultations under Article IV. According to Martin Schindler, Head of Mission for Burkina Faso, the IMF has reached a service-level agreement on economic and financial policies that could encourage the approval of the first review of the program as part of the extended credit facility agreement. The completion of the first review by the IMF Executive Board, tentatively scheduled for May, would allow for the disbursement of approximately $32 million (SDR 24.1 million), bringing the total financial assistance provided by the IMF under the agreement to $64 million (SDR 48.2 million)

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