IMF lends Burundi $6.9 Million to bolster Economy

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Burundi's President Pierre Nkurunziza
Burundi’s president Pierre Nkurunziza

The International Monetary Fund will lend Burundi $ 6.9 M to shore up its budget ahead of the nation’s presidential election in June.

Tensions are running high in the small, land-locked nation, which is tentatively emerging from over a decade of civil war, because of a dispute over whether the incumbent President, Pierre Nkurunziza, can run for another term in elections due on June 26.

The IMF also said it would lend Burundi $ 13.9 M next year, to strengthen the management of public finances and consolidate the country’s economic reform program.

The funds are part of the IMF’s Extended Credit Facility, a financial support program for low-income countries which provides zero interest rate financing.

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