IMF approves $271 loan for Burundi
By Babagana Jidda Kanempress
18th July 2023
The International Monetary Fund has approved a $271 million Extended Credit facility for Burundi, with an immediate release of $62 million.
The loan is to rebuild external buffers, assist government’s reforms agenda and tackle protracted balance of payment needs.
Burundi’s economy had just being recovering from years of conflict and instability under former Leader Pierre Nkunruziza which left many sectors negatively affected.
This is Burundi’s first Upper Credit Tranche-quality arrangement with the IMF since 2015.
