1. Home
  2. West Africa
  3. Chad
  • News

US $49.9 million to alleviate poverty and aid growth

The International Monetary Fund (IMF) has approved a three-year loan of US $49.9 million to Chad, under the Fund’s Poverty Reduction and Growth Facility (PRGF), to support the government’s 1999-2002 economic programme. Announcing this on Friday, the IMF said the first annual loan of some US $14.3 million would be available in two equal instalments with approximately half the amount available immediately. “In considering the three-year programme presented by Chad for support under the PRGF, directors stressed the importance of consolidating the fiscal gains from the previous programme,” Shigemitsu Sugisaki, IMF deputy managing director, said. Following Chad’s completion of a three-year IMF structural adjustment programme in April, it had improved its public finances and progressed in implementing key structural reforms, he said, although difficulties in raising fiscal revenues continued to hamper economic performance. These difficulties, he said, underlined the need for Chad to persevere with its economic reforms so it could “achieve the transition from crisis management and stabilisation to the steady implementation of economic and social policies for development and poverty reduction”.

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

Share this article

Get the day’s top headlines in your inbox every morning

Starting at just $5 a month, you can become a member of The New Humanitarian and receive our premium newsletter, DAWNS Digest.

DAWNS Digest has been the trusted essential morning read for global aid and foreign policy professionals for more than 10 years.

Government, media, global governance organisations, NGOs, academics, and more subscribe to DAWNS to receive the day’s top global headlines of news and analysis in their inboxes every weekday morning.

It’s the perfect way to start your day.

Become a member of The New Humanitarian today and you’ll automatically be subscribed to DAWNS Digest – free of charge.

Become a member of The New Humanitarian

Support our journalism and become more involved in our community. Help us deliver informative, accessible, independent journalism that you can trust and provides accountability to the millions of people affected by crises worldwide.

Join