IMF Frees Funds for Congo

The International Monetary Fund will release around USD12.53 million under a three-year poverty reduction deal to support Congo’s economic program. Of the sum, USD1.79 million will be initially disbursed. “The (Congo government’s) structural reform agenda is designed to support broadening of the economic base, bolster Congo’s competitiveness, and strengthen transparency,” IMF Deputy Managing Director and Acting Chairman Murilo Portugal said. (“IMF Executive Board Approves USD12.53 Million PRGF Arrangement for the Republic of Congo and Interim Assistance under the Enhanced HIPC Initiative” - International Monetary Fund, Dec. 8, 2008)

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