• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

5 African countries which have received loans from the IMF in 2023

2 years ago
in Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
43
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

5 African countries which have received loans from the IMF in 2023

The International Monetary Fund is a 189-member country organization that seeks to promote international monetary cooperation, ensure financial stability, ease trade between nations, encourage high employment and sustainable economic growth, and lessen poverty worldwide.

As a result, one of the primary responsibilities of this organization is to aid in the alleviation of economic stress in any of its member countries, particularly those in extreme straits. They accomplish this by disbursing loans and revising monetary policy.

Many struggling African nations have benefited from this role since the organization’s establishment, and the last few months have been no exception. African nations that have requested the IMF’s help are either being assessed by the global lender or have had their requests approved.

Below are 5 African countries which have received loans from the IMF since March, and the details of their arrangement with the financial institution.

Cameroon: The International Monetary Fund (IMF) Executive Board on the 8th of March, 2023, completed the third review of the three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) with Cameroon, which were approved on July 29, 2021 for SDR 483 million (approximately US$689.5 million, or 175 percent of quota). This would enable the release of SDR 55.2 million (about US$73 million), increasing the total amount disbursed under the agreements to SDR 317.4 million (approximately US$420 million).

Côte d’Ivoire: On May 24, 2023, the International Monetary Fund (IMF) Executive Board approved 40-month arrangements for Côte d’Ivoire under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) in the amount of SDR 2,601.6 million (equivalent to 400 percent of quota or approximately US$3.5 billion).

Ghana: On May 17th, 2023, the International Monetary Fund (IMF) Executive Board authorized a 36-month arrangement under the Extended Credit Facility (ECF) in the amount of SDR 2.242 billion (about US$3 billion, or 304 percent of quota). The Executive Board’s resolution would allow for an immediate payout to Ghana in the amount of SDR 451.4 million (about US$600 million).

Central African Republic: The International Monetary Fund (IMF) Executive Board, on April 27, 2023, authorized a 38-month Extended Credit Facility (ECF) agreement with the Central African Republic for SDR 141.68 million (about US$191.4 million). The Executive Board’s resolution allows for an immediate release of SDR 11.3 million (about US$15.2 million).

South Sudan: The International Monetary Fund (IMF) Executive Board approved a disbursement of SDR 86.1 million (approximately US$114.8 million) under the Food Shock Window of the Rapid Credit Facility (RCF) on March 1, 2023, to assist South Sudan with the urgent balance of payment needs resulting from heightened food insecurity.

Tags: 5 African countries which have received loans from the IMF in 2023African CountriesIMF
No Result
View All Result

Highlights

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

Trending

Features

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

August 25, 2025

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers As anticipation builds for the...

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.