|
Article Excerpt
M2 PRESSWIRE-31 May 2004-IMF: IMF approves 14-month US$102 million stand-by arrangement for Gabon(C)1994-2004 M2 COMMUNICATIONS LTD
RDATE:05282004
The Executive Board of the International Monetary Fund (IMF) today approved a 14-month SDR 69.44 million (about US$102 million) Stand-By Arrangement for Gabon to support the country's economic program. The approval opens the way for the immediate release of SDR 13.888 million (about US$20 million).
Following the Executive Board discussion, Anne Krueger, Acting Managing Director and Chairman, said:
"Since mid-2002, Gabon has taken important policy actions to address the serious challenges stemming from declining oil production, a heavy debt burden, and weak social indicators.
A staff-monitored program, covering the period September-December 2003, was implemented in a broadly satisfactory manner. Measures have been taken to strengthen the public finances and advance structural reforms, in order to boost non-oil economic growth. In addition, Gabon has taken steps toward improved governance, including participation in the Extractive Industries Transparency Initiative.
"The authorities' economic program for 2004-05, supported by the Stand-By Arrangement, aims at strengthening the adjustment effort. It emphasizes continued fiscal adjustment to free resources for the private sector, reduce financing...
|
|
More articles from M2 Presswire
Nortel Networks announces new waiver from Export Development Canada., May 31, 2004
American Eagle comments on AFA picketing., May 31, 2004
Secretary-General receives honorary doctorate from Universite de Montr..., May 31, 2004
UN human rights experts appeal to Israel on house demolitions., May 31, 2004
Contracts., May 31, 2004
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
|
