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Finance Minister signs loan agreement in the sum of US $180 million

Unknown-8Finance Minister Colm Imbert signs the first tranche of a policy-based loan agreement in the sum of US$180 million.


The loan was obtained from the Corporación Andina de Fomento Development Bank.


The total loan of US$300 million will be used for the implementation of the programme to support government’s medium-term fiscal consolidation strategy—phase II.


Government says the loan was taken to boost potential growth and reduce the economy’s vulnerability to external fluctuations and volatility of external terms of trade.

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