News Column

IMF Executive Board Approves Extension of Haiti's Extended Credit Facility

September 3, 2014

WASHINGTON, Sept. 3 -- The International Monetary Fund issued the following news release:

On August 27, 2014 the Executive Board of the International Monetary Fund (IMF) approved the extension to December 28, 2014 of the arrangement with Haiti under the Extended Credit Facility (ECF). The Board's decision was taken without a Board meeting1. The Haitian authorities requested the extension to provide them with additional time to implement actions on the fiscal and structural fronts that are needed for the completion of the eighth and final review under the arrangement and the related disbursement.

A three-year arrangement under the ECF was approved for Haiti on July 21, 2010 (see Press Release No. 10/299). In August 2013, the arrangement was extended by one year to August 29, 2014.

1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.

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Source: Targeted News Service

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