News Briefs

Niger and the IMF

The IMF's Poverty Reduction and Growth Facility (PRGF) -- A Factsheet

News Brief No. 00/123
December 27, 2000
International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Gives Final Approval of PRGF Loan for Niger

The Executive Board of the International Monetary Fund (IMF) has given its final approval of the three-year loan under the Poverty Reduction and Growth Facility (PRGF) for Niger in an amount equivalent to SDR 59.20 million (about US$76 million-see Press Release No. 00/69 of December 14, 2000).

The final decision by the IMF Executive Board was contingent on a decision by the World Bank Executive Board on December 20 which concluded that the interim Poverty Reduction Strategy Paper (PRSP) provides a sound basis for development of a fully participatory PRSP and for concessional assistance by the World Bank.

Under the Niger's three-year arrangement, the IMF Executive Board decision makes available immediately SDR 8.46 million (about US$11 million).


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