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WASHINGTON, March 8 (UPI) -- The International Monetary Fund Tuesday approved lending Senegal $5.3 million to tackle poverty.
The IMF had approved a loan worth $37 million to Senegal in April 2003. With the latest funds, the country has so far borrowed $15.9 million of the total available funds. The remaining sum will be available until April 2006 if Senegal continues to adhere to the IMF's stringent loan program of fiscal discipline.
"The Senegalese authorities managed the economy well in 2003 and 2004 ... the macroeconomic outlook for 2005 appears favorable," said the IMF's deputy managing director Agustin Carstens. "The authorities should strive to maintain low budget deficits, collect revenue efficiently, and tighten control on current expenditure to allow for measured increases in capital and pro-poor spending."
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ASHGABAT, Turkmenistan, May 23 (UPI) --
The signing of a deal for a multilateral natural gas pipeline from Turkmenistan is a milestone in regional economic affairs, an Indian minister said.
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WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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