IMF approves Cape Verde loan disbursement

WASHINGTON, Aug. 30 (UPI) -- The International Monetary Fund Monday approved Cape Verde accessing its fourth installment of a $13 million loan.

Cape Verde will be able to access $2 million immediately, bringing the total amount of loans it has accessed thus far to $9 million. The loan was initially approved in April 2002, and the country can withdraw the remaining $4 million by next April, assuming the government continues to adhere to IMF economic policies.

The IMF praised Cape Verde's ability to keep its economy on track by keeping inflation under control and improving its trade balance.