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UNBELIEVABLE: Imf executive board approves 638 million for benin | History Defined

Benin International Monetary Fund
International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S. REUTERS/Yuri Gripas

The International Monetary Fund's (IMF) 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, the IMF said in a statement late on Friday.

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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