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IMF Approves US$75.6 Million PRGF Arrangement for Burundi

The Executive Board of the International Monetary Fund (IMF) today approved a three-year SDR 46.2 million (about US$75.6 million) arrangement under the Poverty Reduction and Growth Facility (PRGF) for Burundi, to support the implementation of the country's poverty reduction program and its efforts to consolidate macroeconomic stability. It takes into account the financial impact of rising world food and oil prices in 2008. The Executive Board's approval enables Burundi to draw an amount...

BURUNDI: Grappling with a looming political crisis

Burundis future appeared rosy as international donors pledged US$665.6 million in May for a three-year poverty reduction plan, but a brewing political crisis could upset everything, say observers. The crisis, both within the ruling party and outside it, began early in 2007 when Hussein Radjabu, chairman of the Conseil national pour la dfense de la dmocratie-Forces pour la dfense de la dmocratie (CNDD-FDD) party, was sidelined. Radjabu has played a central role from the time CNDD-FDD was a...