IMF approves loan of US$3.97 million to Sao Tome and Principe

18 May 2012

A technical team from the International Monetary Fund (IMF) has reached agreement with the Sao Tome and Principe authorities on the country’s economic programme for 2012-2015, which will be granted funding of US$3.97 million the IMF said in a statement.

The IMF mission, which Thursday ended a visit of almost two weeks to Sao Tome and Principe, said that the medium-term economic programme would be supported by the IMF’s Extended Credit Facility (ECF) to a total of US$3.97 million.

The agreement, which was reached by the IMF technical team with the Sao Tome authorities, will be put forward for approval by the IMF’s Board of Directors, which is expected to analyse it in July. (macauhub)