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IMF Executive Board Approves US$67.38 Million In Emergency Support To Equatorial Guinea To Address The COVID-19 Pandemic And Accidental Explosions

<ul class="pr-points"> <li><span>The IMF Executive Board approved Equatorial Guinea&rsquo;s request for emergency assistance equivalent to about US$67.38 million under the Rapid Financing Instrument.</span></li> <li><span>The pandemic and the Bata explosions have inflicted heavy damage on Equatorial Guinea&rsquo;s economy, substantially weakened its near-term economic outlook, increased economic and financial stress, and severely affected the livelihood of much of the population.</span></li> <li><span>The authorities are committed to taking further steps as part of their ongoing effort to address macro-critical governance and corruption challenges facing Equatorial Guinea.</span></li> </ul> ....

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IMF Executive Board Approves US$105.63 Million Extended Arrangement Under Extended Fund Facility for Seychelles


Date Time
IMF Executive Board Approves US$105.63 Million Extended Arrangement Under Extended Fund Facility for Seychelles
Washington, DC: On July 29, 2021, the Executive Board of the International Monetary Fund (IMF) approved a 32-month extended arrangement under theExtended Fund Facility(EFF) for Seychelles for SDR 74 million (US$105.63 million), or 323 percent of Seychelles’ quota. The Board’s approval allows for an immediate disbursement equivalent to US$ 34.26 million.
Seychelles was hit hard by the COVID-19 crisis. The authorities reacted swiftly, by locking down the economy, thereby keeping infection and fatality rates low. However, the travel restrictions and global economic downturn triggered unprecedented economic contraction. The authorities responded with measures to mitigate the economic fallout on businesses and households. But the public debt ratio increased sharply, reflecting the primary balance deterioration, exchange rate depreciation, and GDP con ....

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IMF Executive Board Approves US$ 689.5 Million Arrangements Under Extended Credit Facility and Extended Fund Facility for Cameroon