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IMF executive board approves $638 million for Benin - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The International Monetary Fund’s executive board has approved a $638 million extended fund and extended credit facility for Benin under a 42-month arrangement to help the West African nation address pressing financing needs.

International Monetary Fund logo is seen outside its headquarters during the IMF/World Bank spring meetings in Washington, U.S., April 20, 2018.International Monetary Fund logo is seen outside its headquarters during the IMF/World Bank spring meetings in Washington, U.S., April 20, 2018.

The decision will enable an immediate disbursement of $143 million, which Benin authorities intend to use for budget support, the IMF said.

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