IMF reaches tentative deal with Haiti for $229M loan

March 8, 2019
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The relative of a protester who was killed is held as she cries near the coffin during a funeral in Port-au-Prince, Haiti, Monday, March 4, 2019. Some demonstrators were killed while protesting skyrocketing inflation and the government's failure to prosecute embezzlement from a multi-billion Venezuelan program that sent discounted oil to Haiti. (AP Photo/Dieu Nalio Chery)

PORT-AU-PRINCE, Haiti (AP) — The International Monetary Fund has reached a tentative deal to extend a $229 million loan to Haiti.

IMF officials said the loan would be used to help feed children at schools and pay for social housing, among other things. It would be paid back over three years provided Haiti meets certain goals.

The loan was requested by the Caribbean country and still has to be approved by the IMF’s executive board.

IMF Mission Chief Chris Walker said the deal aims to help Haiti overcome its fragility and improve people’s lives. Walker’s visit to the country ended Friday.

In recent weeks, the Western Hemisphere’s poorest nation has been paralyzed by violent protests over corruption and skyrocketing inflation.