DAKAR, (Reuters) – The International Monetary Fund and Niger reached a staff level agreement regarding a programme review. If approved by the IMF in June, it will permit a disbursement amounting to $53 million.

Approval of the staff-level agreement must be obtained from IMF management. The executive board is scheduled to meet in June. In a statement, IMF stated that the completion of the review would permit the payment to be made for external financing requirements.

In December, the IMF approved Niger a loan agreement for three years in the amount of $276 million. This was to assist it with its recovery from the COVID-19 epidemic.

According to the IMF, the agreement’s “Program performance through March 2022 was generally satisfactory” and that most of the quantitative macroeconomic targets were fulfilled.

It said that economic growth will rebound to 6.9% by 2022, from 1.3% in 2020. This is due to increased agricultural production and large investment projects related to the oil pipeline to Benin. The IMF stated that inflation is still high due to rising food prices.

Niger is found in semi-arid Sahel where armed Islamist organizations linked to al Qaeda/Islamic State have recently destabilised large swathes. These terrorists have regularly attacked civilian populations, resulting in the deaths of thousands and displacement of millions.

Niger is last among 189 countries included in the United Nations Human Development Index. This index measures quality of life, health education, and educational attainment.