Contents
- 1. Subject to the conditions referred to in paragraph 3, firs…
- 2. The amounts of the Union’s macro-financial assistance shal…
- 3. The Commission shall decide on the release of the instalme…
- 4. Where the conditions referred to in paragraph 3, first sub…
- 5. The Union’s macro-financial assistance shall be disbursed…
3.The Commission shall decide on the release of the instalments subject to the fulfilment of all of the following conditions:
(a)the precondition set out in Article 2(1);
(b)a continuous satisfactory track record of implementing a policy programme that contains strong adjustment and structural reform measures supported by a non-precautionary IMF credit arrangement; and
(c)the satisfactory implementation of the economic policy and financial conditions agreed in the MoU.
The release of the second instalment shall not, in principle, take place earlier than three months after the release of the first instalment. The release of the third instalment shall not, in principle, take place earlier than three months after the release of the second instalment.
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