IMF and Chad Reach Milestone Credit Agreement

The International Monetary Fund and Chad have finalized a staff-level agreement for the first review of an extended credit facility, part of a 455.65 million SDR ($655 million) program. The program was initially approved by the IMF Executive Board on July 25 to support Chad's economic framework.

The International Monetary Fund announced on Friday that it has reached a staff-level agreement with Chadian authorities concerning the first review of an extended credit facility.

This agreement is part of a program amounting to 455.65 million Special Drawing Rights (approximately $655 million), originally approved by the IMF Executive Board on July 25.

The program aims to bolster Chad's economic stability through strategic financial assistance amid ongoing global economic challenges.

(With inputs from agencies.)