Haiti: IMF Approves $2.5M Disbursement

Above: Port-au-Prince (CJ Photo)

By the Caribbean Journal staff

The International Monetary Fund’s Executive Board has approved a $2.5 million disbursement to Haiti.

The move comes after the board completed its sixth review of Haiti’s performance under its IMF programme supported by an Extended Credit Facility arrangement.

The IMF said the board had also approved an extension of the arrangement until Aug. 29, 2014, along with a “rephasing” of disbursements.

The disbursement will bring total disbursements to Haiti under the programme to date to around $56.8 million.

The country’s ECF arrangement was first approved in July 2010, just months after the country’s devastating earthquake.

At the same time, Haiti was granted full relief of its outstanding debt to the fund, or about $268 million.