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    IMF approves $67 million emergency support for Equatorial Guinea

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    DAKAR, Sept 16 (Reuters) – 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. read more

    Reporting by Bate Felix; Editing by Alex Richardson

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