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IMF completes talks with Chad over $115m in emergency funding

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IMF completes talks with Chad over $115m in emergency funding

IMF completes talks with Chad over $115m in emergency funding
Photo by Reuters

9th April 2020

By: Reuters

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The International Monetary Fund (IMF) has completed talks with Chad aimed at granting access to $115-million from its Rapid Credit Facility to help the African oil producer confront the impact of the Covid-19 pandemic, the Fund said in a statement.

"This will allow the authorities to meet the urgent budgetary and balance of payment needs stemming from the deterioration of the global economic conditions and the spread of Covid-19 in Chad," said the statement released late on Wednesday.

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The IMF's Executive Board is expected to consider the request in mid-April.

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