The International Monetary Fund (IMF) has approved a US $1.2-million loan for Sao Tome e Principe under the Poverty Reduction and Growth Facility programme. The loan is the second disbursement in a three-year arrangement between the government and the fund, the institution said on Tuesday. IMF Deputy Managing Director Eduardo Aninat said “significant progress” was achieved in carrying out structural reforms and that “the authorities’ main challenges will be to adhere to the fiscal policy stance agreed for 2001”.
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