July 31, 2020 / 8:49 AM / 5 days ago

IMF approves $171.9 mln to Madagascar to address COVID-19 pandemic -statement

The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS/Rodrigo Garrido

NAIROBI (Reuters) - The International Monetary Fund (IMF) approved $171.9 million of funding to Madagascar, it said on Thursday, bringing the total COVID-19 emergency support to the country to $337.9 million.

“This is the second emergency disbursement since the onset of the pandemic and will help finance the country’s urgent balance of payments and fiscal needs,” the IMF said in a statement.

Reporting by Omar Mohammed; editing by Elias Biryabarema and Chris Reese

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