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Extended Credit Facility: IMF and Niger reach an agreement

19/05/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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A staff team from the International Monetary Fund (IMF), held meetings from 5 to 16 May 2025 on the seventh review of the agreement supported by the Extended Credit Facility (ECF) for Niger, as well as on the third review of the program supported by the Resilience and sustainability (FRD)

.

At the end of the mission, Antonio David, head of the services team at the International Monetary Fund (IMF), said that “the Nigerien authorities and IMF staff have reached a service-level agreement on the seventh review of the economic program supported by the facility. extended credit and on the third review of the program supported by the Resilience and Sustainability Facility. This service agreement must receive the approval of IMF management and executive board.” The completion of the review of the FEC agreement would allow for the disbursement of 13.2 million SDR (approximately $17.8 million, or 10% of Niger's quota) to help cover the country's external financing needs. The completion of the review of the FRD agreement would allow for the disbursement of 17.1 million SDR (approximately $23.1 million, or 13% of Niger's quota). According to Antonio, “the extended credit facility agreement aims to strengthen macroeconomic stability and to lay the foundations for resilient, inclusive and private-sector-led growth. The results obtained under the program were generally satisfactory compared to the objectives set for the end of December 2024 and the end of March 2025. The authorities have also made considerable progress in clearing debt service arrears

.”
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