The International Monetary Fund has approved the immediate disbursement of approximately UD42.05 million to help Nepal address the effects of the global economic crisis. The funds will be available through IMF’s Rapid Credit Facility, which is designed to extend speedy and flexible financial assistance to low-income countries with urgent balance of payments need.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
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