Economy

IMF approves new 3-year aid program for Haiti – Yahoo Finance


The International Monetary Fund announced Wednesday a new aid program for Haiti to help the impoverished Caribbean country to continue its recovery from the devastating 2010 earthquake.

The IMF executive board approved Monday a $69.7 million three-year lifeline under its Extended Credit Facility for poor countries, the global crisis lender said in a statement.

The first $10 million of the program was immediately disbursed and subsequent installments will be phased in, subject to semi-annual program reviews.

The January 12, 2010 earthquake killed more than 250,000 in Haiti and destroyed infrastructure across the country, where 70 percent are unemployed. via – Yahoo Finance

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