News Brief: IMF Gives Final Approval of Second Review of Vietnam's PRGF Loan
July 3, 2002
IMF Gives Final Approval of Second Review of Vietnam's PRGF Loan
The Executive Board of the International Monetary Fund (IMF) has given its final approval of the second review of Vietnam's performance under the Poverty Reduction and Growth Facility (PRGF).
The final decision by the IMF Executive Board was contingent on a decision by the Executive Board of the World Bank on July 2, 2002. That decision concluded that Vietnam's Comprehensive Poverty Reduction and Growth Strategy (CPRGS) provides a sound basis for concessional assistance by the World Bank.
The completion of the second review releases a further SDR 41.4 million (about US$55 million) from the PRGF loan (See News Brief No. 02/53).
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