Humanitarian Development Program - Niger: IMF approves $1.5 million fund


Niger: IMF approves $1.5 million fund (29/11/07)


The International Monetary Fund has approved a $1.5 million fund to Niger, equivalent to SDR 940,000, after successfully completing the country's economic performance under three-year Poverty Reduction and Growth Facility (PRGF) arrangement.

		The approval of the fund brings to a total disbursement under the arrangement to SDR 25.38 Million (about $40.4Million). In completing the review, the Executive Board of the Fund approved Niger's request for a waiver for the nonobservance of a continuous structural performance criterion on the application of the flexible pricing mechanism for petroleum products. The board again extended Niger's Poverty Reduction Growth Fund (PRGF) arrangement by four months to May 31, 2008.
Niger's PRGF arrangement was originally approved on January 31, 2005 in an amount equivalent to SDR 6.58 million and augmented to SDR 26.32 million (about US$41.9 million) on November 14, 2005. Source: Ghanaian Chronicle To receive regular email alerts, contact us at updates@developmentprogram.org Click here for Newsletter Archive

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