Afghan authorities and IMF staff Reaches Staff-level Agreement on the Completion of the Fifth Review Under the ECF Arrangement.
H.E. Pro. Mohammad Humayon Qayoumi, Acting Minister of Finance and Chief Advisor on Infrastructure to H.E. the President, on his official visit to United Arab Emirate, met with IMF technical team led by Christoph Duenwald in Dubai to discuss the fifth review of Afghanistan economic program supported by the Extended Credit Facility arrangement. The two sides after comprehensive discussions reached staff-level agreement.
The IMF team stated that Afghanistan continues to implement its economic reform program and has made notable progress in fiscal management and financial sector reforms. However, both sides agreed that continued reforms and policy discipline will be critical in this election year.
This staff level agreement is subject to the IMF Executive Board approval, and the board is expected to review the report in late May 2019. With the completion of this review, SDR 4.5 million (about US$ 6.1 million) will be made available to Afghanistan, bringing total disbursements to SDR 27 million.
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