Ivory Coast Reaches Deal With IMF on $674 Million in Loans
- Funds to address balance of payments, support growth
- Nation commits to reforms including containing fiscal risks
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The International Monetary Fund and Ivory Coast reached staff-level agreement for the lender to provide the African nation with an equivalent of $674.3 million in loans.
The three-year deal is expected to be submitted to the fund’s executive board for approval in December, the Washington-based lender said in an e-mailed statement Tuesday. Under the agreement, financing would be supported by the IMF’s extended credit and fund facilities.