Chad in talks with IMF On $130m loan -Min­is­ter

Daily Trust - - BUSINESS -

Chad is ne­go­ti­at­ing a new loan pro­gram with the In­ter­na­tional Mon­e­tary Fund to­tal­ing about $130 mil­lion and hopes to con­clude dis­cus­sions in the sec­ond half of the year, the coun­try’s fi­nance min­is­ter said on Satur­day.

Be­doumra Kordje, min­is­ter for fi­nance and budget, said Chad was seek­ing a so-called Ex­tended Credit Fa­cil­ity from the IMF, which had pro­posed an amount of about 60 bil­lion CFA francs ($127 mil­lion) for the pro­gram. The land­locked cen­tral African coun­try, one of the con­ti­nent’s poor­est, has seen strong growth over the past decade as it emerged as an oil pro­ducer. Chad had also been in­volved in two peace­keep­ing op­er­a­tions - in neigh­bor­ing Mali and Cen­tral African Repub­lic, though it de­cided to with­draw its troops from the CAR ear­lier this month. [ID:nL5N0MW2B1]

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