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IMF to consider fresh fund request for Afghanistan

IMF to consider fresh fund request for Afghanistan

Sep 27, 2011 - 10:53

WASHINGTON (PANinfo-icon): The International Monetary Fund (IMF) on Monday said that its executive board would soon take into account the request for a fresh financial assistance for Afghanistaninfo-icon.

However, before the new economic program could be considered by the IMF Executive Board, Afghanistan needs to carry out certain actions over the next few months.

“Afghanistan has made substantial progress on a number of actions intended to safeguard financial and economic stability which, when completed, would serve as the basis for a new program,” said Schimmelpfennig, who led the IMF team in talks with the visiting Afghan representatives on the issue.

Welcoming the progress achieved in Afghanistan, Schimmelpfennig said over the last few days, the Afghan authorities and an IMF team reached an understanding on the structural reform agenda of the Memorandum of Economic and Financial Policies that could be supported by a Fund program.

“This will allow an IMF mission to visit Kabulinfo-icon shortly to update macroeconomic projections underlying a possible program,” he said.

“The Afghan authorities have committed to complete a number of remaining actions over the coming month, and once these are done, the IMF’s Executive Board is expected to consider the request for a new Fund supported program,” Schimmelpfennig said.



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