From the Executive Board

• Pages: 200

Page 200

Djibouti: Extension and Augmentation of Stand-By Arrangement

The IMF approved a request by the government of Djibouti to extend the current stand-by credit through end-March 1999, and to augment the amount available under it by SDR 1.7 million (about $2.2 million) in support of Djibouti's economic adjustment and reform program. The IMF's Executive Board took the decision in conjunction with the completion of the second review under the stand-by credit that was approved on April 15,1996 (see Press Release No. 96/16, IMF Survey, May 6, 1996) and augmented on May 21, 1997 (see Press Release No. 97/25, IMF Survey, June 25, 1997) to SDR 6.6 million (about $8.8 million). The current augmentation brings the total amount of the stand-by credit to SDR 8.25 million (about $11.0 million).

Djibouti joined the IMF on December 29, 1978. Its quota is SDR 11.5 million (about $15.4 million). Its outstanding financial obligations to the IMF currently total the equivalent of SDR 3.98 million (about $5.3 million).

Press Release No. 98/21, June 1

Romania: Article VIII

The Minister of Finance and the Governor of the National Bank of Romania...