$1.78 Billion in IMF Loans OKd for Czechs
The International Monetary Fund on Monday offered Czechoslovakia $1.78 billion worth of loans, the first since the new non-Communist government rejoined the organization in September.
About $614 million will be disbursed at once. The rest will go out in four installments over the next 14 months. Fund officials expressed hope that the action will encourage private lenders and investors to come forward with larger sums.
The IMF praised Czech President Vaclav Havel’s government for its policies, including a blueprint for privatizing government-owned business.
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