The FINANCIAL -- On December 10, 2018, the Executive Board of the International Monetary Fund (IMF) completed the third review of Niger’s economic and financial program supported under the Extended Credit Facility (ECF) framework.
The completion of the review enables the disbursement of SDR14.1 million (about US$19.5 million), bringing total disbursements under the arrangement to SDR56.4 million (about US$78.1 million).
The Executive Board also approved the authorities’ request for a waiver of the nonobservance of the performance criterion on domestic payments arrears clearance.
Niger’s three-year arrangement was approved on January 23, 2017 for SDR 98.7 million (about US$134.04 million) in support of the authorities’ national plan for economic development. It aims to enhance macroeconomic stability and foster high and equitable growth, boost incomes and create jobs, while strengthening the foundations for sustainable development.
Due to unforeseen financing gaps that arise from security situation, struggling uranium sector and food security needs IMF Executive Board agreed to increase the overall amount of the ECF to SDR 118.44 million (about US$164.1 million, or 90 percent of Niger quota).