June 20, 2020 / 11:28 AM / 2 months ago

IMF approves $148 million emergency credit for Guinea

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S. September 4, 2018. REUTERS/Yuri Gripas

DAKAR (Reuters) - The International Monetary Fund (IMF) has approved $148 million in emergency credit to Guinea to bolster the West African country’s economy during the COVID-19 pandemic, it said in a statement.

“Worsening global conditions and a rapidly spreading local outbreak have deteriorated Guinea’s short-term growth prospects and hindered mining exports and tax revenues,” the IMF said.

Reporting by Saliou Samb; writing by Edward McAllister; editing by Jason Neely

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