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Explosion at the Coranthie fuel depot: Guinea receives $71 million from the IMF

20/05/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Dans le but d' aider la Guinée to meet the urgent needs to finance the balance of payments resulting from the explosion of the fuel depot, the IMF has approved a disbursement of 53.55 million SDR (approximately $71 million) to the country

.

Transfers to affected households; decontaminating the explosion site; building homes, schools, and health infrastructure; rehabilitating damaged public buildings; and launching work to build a modern and safe fuel depot, are emergency expenses, which will be included in the amended finance law 2024. The first Deputy Managing Director and Interim President of the IMF, Gita Gopinath, said that “emergency financial assistance under the rapid credit facility will help meet urgent balance of payments needs arising from the explosion of a major fuel import and storage facility in late 2023. The urgent needs include those related to the decontamination of the site, assistance to affected households and the reconstruction of buildings, infrastructure and a new fuel depot

.”
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