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Burkina Faso : IMF approx. immediate release of US$3.9M for BURKINA FASO

July 7, 2014

The International Monetary Fund (IMF) has agreed to immediately issue an amount that equals Special Drawing Right (SDR) 2.55 million (approx. US$3.9 million) for Burkina Faso.

The IMF said the decision came after the conclusion of the first review of the country's economic performance under a three-year programme supported by the bank's Extended Credit Facility (ECF) arrangement, and also completed the 2014 Article IV Consultation with Burkina Faso's authorities.

The bank said with the approval, the total disbursements under the arrangement reached an amount that equals SDR 5.1 million (approx. US$7.9 million).

The IMF stated: "The Executive Board also approved the authorities requests for a waiver for non-observance of the end-December 2013 performance criterion on net domestic financing and for modification of the continuous performance criterion on non-concessional external debt and modification of the performance criterion on net domestic financing for the end-June and end-December 2014 periods."

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Source: TendersInfo (India)

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