IMF OKs $10.5M for Burundi

    The International Monetary Fund has concluded its sixth review of Burundi’s economic program and approved the release of some $10.5 million from the extended credit facility, or ECF, that supports the program.

    This brings total disbursement under the ECF to approximately $73.2 million.

    Upon completion of the review, the IMF’s executive board also agreed to increase the total funding available under the facility and extend it until January 2012 in a bid to mitigate the impact of food and fuel crises in Burundi.

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    About the author

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      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.