Washington, DC—May 7, 2025: The Executive Board of the International Monetary Fund approved the Cabo Verdean authorities' request for an extension of the country's Extended Credit Facility (ECF) Arrangement until September 15, 2025, and for an extension of the Resilience and Sustainability Facility (RSF) Arrangement until September 11, 2025, to allow additional time for completing the sixth ECF and third RSF reviews.
The three-year ECF arrangement was approved by the IMF's Executive Board on June 15, 2022, with access of SDR 45.03 million (190 percent of quota) (see Press Release no 22/202 ). The 18-month RSF arrangement was approved on December 11, 2023, with access of SDR 23.7 million (100 percent of quota) (see Press Release no 23/436 ).
The Executive Board's decision was taken on a lapse-of-time basis [1] .
[1] The Executive Board takes decisions under its lapse-of-time procedure when a proposal can be considered without convening formal discussions.
