IMF Executive Board Completes Second and Third Reviews Under Djibouti's Extended Credit Facility

The FINANCIAL -- The Executive Board of the International Monetary Fund (IMF) completed on January 10 the second and third reviews of Djibouti’s economic performance under the three-year Extended Credit Facility (ECF)1.

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The completion of the reviews enables the immediate disbursement of SDR 2.952 million (about US$4.52 million), bringing total disbursements under the program to SDR 8.292 million (US$12.70 million).
 
Additionally, the IMF Executive Board also approved the authorities' request for a 9-month extension of the ECF arrangement in support of their economic program to June 16, 2012 as well as a rephasing of the remaining disbursements. The ECF arrangement was originally approved on September 17, 2008 for a total amount of US$ 20 million. Read More