IMF grants Burundi $271 million loan

Burundi 1000 franc note
Burundi 1000 franc note
Bank of Burundi

The International Monetary Fund granted Burundi a $271 million, 38-month loan on July 17, to deal with several economic shocks, immediately disbursing $62.6 million.

The IMF said Burundi faced “protracted balance of payments needs with a widening current account deficit and low foreign reserves coverage”. In November, it said Russia’s invasion of Ukraine, coupled with domestic drought and livestock epidemics had driven up food and fuel prices.

The loan’s conditions oblige Burundi to liberalise

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