IMF approves releasing final amount of USD 42.9 million to Nepal under ECF
Nepal, June 7 -- The International Monetary Fund (IMF) has approved the release of an additional Rs 6.5 billion (approximately US $42.9 million) to Nepal following the successful completion of the seventh and final review of the Extended Credit Facility (ECF).Citing a notable progress that Nepal has made in implementing structural and governance reforms, the IMF has decided to release the final amount under the ECF. Improvements in these areas are expected to directly aid economic recovery, maintain financial stability, and protect vulnerable sectors of Nepal.According to the IMF, its executive board meeting held on Saturday approved the Nepali authorities' request for a two-month extension of the Extended Credit Facility (ECF) arrangemen...
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