Burundi gets $10m IMF loan Monday July, 26, 2010 Performances against the backdrop of a difficult post-conflict environment and the global financial crisis earned the east African country praises from the IMF, which says the Burundian government deserved commendation. The money is being offered as part of the Extended Credit Facility (ECF) programme, the IMF's main tool for medium-term financial support to low income countries. The ECF programme was approved for Burundi in july 2008 for $50-million and have so far received about $50-million, including the $10-million it just got, the IMF said. "Burundi's economic outlook is positive, supported by strengthened reforms and governance, as well as efforts to continue to improve security conditions," IMF Deputy Managing Director Murilo Portugal said in the IMF statement, dated July 23. Adding that: "Solid policy implementation will be key to meeting Burundi's economic challenges over the medium term, and continued donor assistance will be necessary to support the authorities' efforts,” Burundi is a small, landlocked, coffee-growing nation of eight-million people in East Africa. |
Following a review of Burundi’s economic performance, the International Monetary Fund (IMF) approved a $10-million concessional loan to the central African country.
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