News Brief: IMF Gives Final Approval of First Review of Guinea's PRGF Loan

August 5, 2002

The Executive Board of the International Monetary Fund (IMF) has given final approval of the first review of Guinea's performance under the Poverty Reduction and Growth Facility (PRGF).

The final decision of the IMF Executive Board was contingent on a decision by the Executive Board of the World Bank on July 25, 2002. The decision concluded that Guinea's Poverty Reduction Strategy Paper provides a sound basis for concessional assistance by the World Bank.

The completion of the first review releases a further SDR 12.85 million (about US$17 million) from the arrangement (see News Brief No. 02/75).


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