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KIGALI, Oct. 6 (Xinhua) -- Rwanda and the International Monetary Fund (IMF) have reached a staff-level agreement on the first review of the country's Extended Credit Facility (ECF) arrangement, following discussions on the implementation of the economic program. The agreement recognizes Rwanda's performance under the program and its continued commitment to sound economic policies, the Rwandan Ministry of Finance and Economic Planning said in a press statement on Tuesday. Upon completion of the IMF Executive Board review expected in December, Rwanda will have access to about 35.7 million U.S. dollars, according to the statement. According to Yusuf Murangwa, Rwanda's Minister of Finance and Economic Planning, the ECF program will cushion the impact of the Middle East conflict and decli...

DHAKA, Oct. 5 (Xinhua) -- Bangladeshi Finance and Planning Minister Amir Khasru Mahmud Chowdhury has said that the country must move beyond reliance on the International Monetary Fund (IMF) by tapping global and domestic markets for capital. "We cannot depend on the IMF," the minister said as the chief guest at a program in Dhaka on Sunday. Noting that Bangladesh's financial architecture was changing, he urged stakeholders to target a trillion-dollar economy by 2034. The Bangladeshi government recently decided to exit the existing 5.5-billion-U.S. dollar loan program with the IMF after some of the Washington-based lender's conditions were reported to be no longer suitable for the country's current circumstances. ■ Source link

Tag: IMF

Rwanda reaches agreement with IMF, unlocking USD 35.7 mln-Xinhua

Bangladesh to shift from IMF loans to market-based financing: minister-Xinhua