April 9, 2020 / 7:56 AM / 2 months ago

IMF completes talks with Chad over $115 mln in emergency funding -statement

Chad's President Idriss Deby Itno addresses the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 25, 2019. REUTERS/Lucas Jackson

JOHANNESBURG (Reuters) - The International Monetary Fund has completed talks with Chad aimed at granting access to $115 million from its Rapid Credit Facility to help the African oil producer confront the impact of the COVID-19 pandemic, the Fund said in a statement.

“This will allow the authorities to meet the urgent budgetary and balance of payment needs stemming from the deterioration of the global economic conditions and the spread of COVID-19 in Chad,” said the statement released late on Wednesday.

The IMF’s Executive Board is expected to consider the request in mid-April.

Reporting by Joe Bavier; Editing by Catherine Evans

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