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IMF approves new loan

    JOHANNESBURG

    The International Monetary Fund (IMF) says that it will give Madagascar US $36 million as part of a multi-year loan, media reports said on Monday.

    According to Reuters, the IMF commended the Indian Ocean nation for its efforts "to strengthen the implementation of its reform strategy." Madagascan officials were quoted as saying that the loan was important to sustain economic growth on the island. Madagascar has a population of about 15 million people and lies about 400km off the coast of Mozambique.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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