IMF Executive Board Completes Seventh Review Under ECF for Liberia and Approves US$6.9 Million Disbursement
The ECF arrangement for Liberia was initially approved in March 2008, for an amount of SDR 239.02 million (see Press Release No. 08/52). In June 2010, Liberia reached the Heavily Indebted Poor Countries (HIPC) Initiative Completion Point and received debt relief equivalent to more than 90 percent of debt outstanding. In June 2011, the IMF Executive Board approved an extension of the arrangement through March 31, 2012, and an augmentation of access of SDR 8.88 million (see Press Release No. 11/258).
1 The Executive Board takes decisions under its lapse of time procedures when it is agreed by the Board that a proposal can be considered without convening formal discussions.
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