IMF Could Lend $800m to El Salvador

IMF Could Lend $800m to El Salvador

The IMF says it has agreed in principle to loan about $800m to El Salvador to support the country’s economic program for 2009. However, Savadoran authorities intend to treat the arrangement as precautionary and do not intend to draw on it, the IMF notes. An IMF spokesman says that the loan would have 5 instalments and a grace period of 2 years and 3 months. The repayment period is two years after each tranche. If El Salvador never uses the loan, it will pay a commitment fee of 0.25%, but

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