© Reuters. FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo
(Reuters) – International Monetary Fund staff have reached agreement with Senegal on financing facilities totalling about $1.9 billion, the Fund said in a statement.
The deal is subject to approval by the IMF executive board, which is tentatively scheduled to consider it in mid-June.
Most of the money is a new 36-month financing arrangement under an Extended Fund Facility and Extended Credit Facility of over $1.5 billion.
Policy priorities under that arrangement will include reducing debt vulnerabilities through fiscal consolidation, strengthening frameworks combating money laundering and terrorism financing, and delivering job-rich economic growth.
Financing under a Resilience and Sustainability Facility of about $327 million will support Senegal’s climate change mitigation and adaptation objectives.
Source: Investing.com
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