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    BREAKING NEWS
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    IMF Expends $23.4 Million to Liberia as a Primary Tranche of IMF’s External Credit Facility

    Posted On 02 Jan 2020
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    Photo Credit: Pngnames

    NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- LIBERIA, first installment of approved US$ 213.6 million. International Monetary Fund has paid from there treasury to the Government of Liberia $23.4 million, punctuating the first installment of confirmed $ 213.6 million of the Fund’s support which was agreed with Liberia in December of 2019 subject to IMF External Credit Facility.

    In line with the Ministry of Information, Cultural Affairs and Tourism (MICAT), the payment which has since been received by the government, indicates that Liberia has met prior conditions and standards. And is on course to meeting other conditions upon which further disbursements are based.

    Withcall on11 December, 2019; IMF’s Executive Board disclosed the ratification of a four-year arrangement under the Externa Credit Facility ( ECF) for Liberia in an amount equivalent to $213.6 million, which the IMF said minted to “help the country restore macroeconomic stability, provide a foundation for sustainable growth, and address weaknesses in governance”.

    In time of approval, the IMF Board praised ongoing reform policies of the Weah-led government.

    Finance Minister Samuel Tweah has welcomed the latest development and assured that the government will continue applying every effort to ensure that, it meets all the stipulations of the program in an effort to rejuvenate the country’s unwell economy.

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    For New Africa Business News Abdul Rahman Suagibu Reports,  Africa Correspondent

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    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Nigeria Launches National Domestic Payments Card Program

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    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
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