IMF approves $18.2 million for Afghanistan

Disbursement approved after the first performance review of its new loan programme.

WASHINGTON: The International Monetary Fund on Friday approved $18.2 million disbursement to Afghanistan following the first performance review of its new loan program.

The IMF suspended the Afghan program in 2010 after reports of corruption, bad loans and mismanagement at Kabulbank, forcing the central bank to rake over the major lender. A new loan program was renegotiated in November 2011 when the Fund re-engaged with the Afghan government.

The IMF has demanded that some of the assets of Kabul bank be recovered.