IMF Approves $1 Bn For Angola Amid Covid-19 Downturn

IMF approves $1 bn for Angola amid Covid-19 downturn

Washington, Sept 16 (UrduPoint / Pakistan Point News - 17th Sep, 2020 ) :The International Monetary Fund on Wednesday said it had approved a $1 billion loan for Angola as its economy struggles with the Covid-19 downturn and global drop in crude prices.

The new funds bring to $2.5 billion the total disbursed by the Washington-based crisis lender's Extended Fund Facility to the southern African nation, the IMF said in a statement.

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