ABIDJAN, Ivory Coast: International Monetary Fund officials say the organization plans to lend $614 million to Ivory Coast so the West African nation can recover after months of postelection violence.
Doris Ross said Thursday they are waiting for final approval on the loan. IMF official Wayne Camard says the interest rate will be zero percent and the loan will be repayable over 10 years.
Former strongman Laurent Gbagbo’s refusal to cede power after losing a November poll plunged the country into months of violence that killed thousands. He was arrested in April by forces loyal to President Alassane Ouattara.
Ross said that while the crisis had a "strong negative impact" on the economy, "the recovery has been faster than expected."
