WASHINGTON: The International Monetary Fund board on Friday approved an US$118.2 million credit that will be rushed out for cyclone-devastated Mozambique to help with the recovery efforts.
In Mozambique alone, more than 600 people died among the 1.85 million affected while over 340 died in Zimbabwe. In addition to the loss of life, he said the country suffered"substantial damage to physical infrastructure and productive capacity."The IMF's Rapid Credit facility gets funds to the country quickly, and will allow the government to reallocate priorities to focus on emergency assistance to the poorest and for reconstruction.
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