The International Monetary Fund (IMF) has approved an eight-million-dollar-loan for Mauritania as an initiative to help the indebted country, reported Arabic.News.com.
The loan is part of a program approved by the IMF for Mauritania in July 1999.
The IMF and the World Bank's International Development Association (IDA) agreed in February 2000 to support Mauritania's eligibility for a debt reduction package under the enhanced 'Heavily Indebted Poor Countries (HIPC) initiative.
In net present value terms, total relief from all of Mauritania's creditors would amount to US$622 million, equivalent to about 40 percent of total debt outstanding at the end of 1998, IMF said in a press release -- Albawaba.com
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