Finance

IMF Approves US$67 Million Emergency Support For Equatorial Guinea

WASHINGTON DC (The Southern African Times) – The International Monetary Fund (IMF) has approved $67 million emergency support for Equatorial Guinea to help it deal with the impact of the coronavirus pandemic and an explosion at a military base that destroyed much of its mainland city of Bata in March.

The IMF said in a statement on Thursday that the financial support requested by the oil-dependent Central African state would help it mitigate the fallout from both shocks.

“The Bata explosions and still unfolding COVID-19 pandemic have inflicted heavy human and economic damage on Equatorial Guinea.” The IMF said.

The explosions at a depot in a military barracks in Bata killed 105 people.

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