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IMF, Afghanistan Reach 'Understandings' On Reform Path

The International Monetary Fund (IMF) says it has reached an agreement with Afghan authorities on a series of reforms that need to be implemented so the country can receive its next aid tranche.

The announcement was made following a two-week visit to Afghanistan by an IMF team.

The IMF granted Afghanistan a $133.6 million credit line in November 2011 to assist the country as foreign military forces withdraw during 2014.

The IMF has so far disbursed two installments totaling around $36 million.

An IMF statement said the IMF team had reached "understandings" with Afghan authorities on a reform path.

The initiatives include submission of new laws to parliament, the strengthening of the capital of banks, the strengthening of customs measures, and preparations to implement a value-added tax.

With reporting by AFP
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