{"id":57223,"date":"2015-11-06T11:42:10","date_gmt":"2015-11-06T09:42:10","guid":{"rendered":"http:\/\/www.myza.co.za\/2015\/11\/imf-executive-board-approves-3-month-extension-of-the-extended-credit-facility-arrangement-for-liberia\/"},"modified":"2015-11-06T11:42:10","modified_gmt":"2015-11-06T09:42:10","slug":"imf-executive-board-approves-3-month-extension-of-the-extended-credit-facility-arrangement-for-liberia","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/imf-executive-board-approves-3-month-extension-of-the-extended-credit-facility-arrangement-for-liberia\/","title":{"rendered":"IMF Executive Board Approves 3-Month Extension of the Extended Credit Facility Arrangement for Liberia"},"content":{"rendered":"<p>                        <span dir=\"ltr\"><br \/>\n                                                    WASHINGTON D.C., United States of America, November 6, 2015\/APO (African Press Organization)\/ &#8212;<br \/>\n                                                <\/span><\/p>\n<p>The Executive Board of the International Monetary Fund (IMF) approved on October 14, 2015\u2014the decision was taken without an Executive Board meeting1\u2014a 3 month-extension of Liberia\u2019s Extended Credit Facility (ECF) Arrangement to February 18, 2016.<\/p>\n<p \/>\n<p>The extension will help to provide the Liberian authorities with more time to implement actions on the fiscal and structural fronts\u2014public financial management, public sector debt, and strengthening international reserves\u2014that are required for the completion of the fourth review under the ECF and the related disbursement.<\/p>\n<p>The ECF arrangement2\u00a0for Liberia in the amount equivalent to SDR 51.68 million (about US$71.8 million or 40 percent of quota) was approved by the IMF\u2019s Executive Board on November 19, 2012 (see\u00a0Press Release No: 12\/449). In September 2014, as part of the response in the fight against Ebola, the Board approved an augmentation of access of the equivalent of SDR 32.3 million (about US$44.9 million or 25 percent of quota) under the ECF arrangement for Liberia.<\/p>\n<p>1\u00a0The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.<\/p>\n<p>2\u00a0The Extended Credit Facility (ECF) is the IMF\u2019s main tool for medium-term financial support to low-income countries. It provides for a higher level of access to financing, more concessional terms, enhanced flexibility in program design, and more focused, streamlined conditionality. Financing under ECF currently carries a zero interest rate, with a grace period of 5\u00bd years, and a final maturity of 10 years.<\/p>\n<p \/>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON D.C., United States of America, November 6, 2015\/APO (African Press Organization)\/ &#8212; The Executive Board of the International Monetary Fund (IMF) approved on October 14, 2015\u2014the decision was taken without an Executive Board meeting1\u2014a 3 month-extension of Liberia\u2019s Extended Credit Facility (ECF) Arrangement to February 18, 2016. The extension will help to provide the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4584],"tags":[428,4585,830],"class_list":{"0":"post-57223","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-africa-news-2","7":"tag-africa","8":"tag-apo","9":"tag-news","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/57223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=57223"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/57223\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=57223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=57223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=57223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}