Afghan Government and the International Monetary Fund (IMF) Reach an Agreement on a New Extended Credit Facility Arrangement
The Government of Afghanistan and the International Monetary Fund reached an agreement on new three-and-half year $364 million Extended Credit Facility (ECF).
The program aims structural reforms in the financial sector, macroeconomic framework, domestic revenue collection, customs reform, transparency in the national budget expenditure, banking sector, fighting corruption, maintaining price stability and strengthening private sector, economic growth and creating employment.
The program aims to mitigate negative impacts of COVID-19, strengthen macroeconomic, support economic reforms, and good governance.
Under this program, the government of Afghanistan will receive $364 million from the IMF over the next three and half years after implementing a series of structural indicators.
The assistance included in the program is critical to support objectives of Afghanistan’s National Peace and Development Framework (ANPDF-II) for 2021-25, including inclusive growth, poverty reduction, and self-reliance.
Likewise, the IMF new program will help maintain macroeconomic stability, support national budget, budget deficit compensation and fund the new program and mitigate negative impacts of COVID-19 on the country.
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