IMF approves $16.7 million loan tranche for Afghanistan

The International Monetary Fund has approved a disbursement of about $16.7 million to Afghanistan under a lending program for low-income countries, the fund said on Wednesday. The announcement came after the IMF completed the fifth review of Afghanistan's economic performance under a Poverty Reduction and Growth Facility (PRGF) arrangement.
The review allows for the immediate disbursement of about $16.7 million and bring to about $103.2 million in total funds for Afghanistan under the program. The IMF approved a loan of around $120 million to Afghanistan in June 2006 under the arrangement. IMF Deputy Managing Director Murilo Portugal said in a statement that Afghanistan's economic and security challenges.