AlHijjah 19, 1432, Nov 15, 2011, SPA -- The International Monetary Fund said it has approved a nearly $134 million loan for Afghanistan, saying its government has made progress in addressing governance and accountability issues during the Kabul Bank crisis, according to AP. Afghanistan has been without IMF backing for more than a year. The IMF suspended its credit program for the country because of mismanagement at Kabul Bank - the country's largest private financial institution - that made hundreds of millions of dollars in questionable loans. The IMF's country director, Axel Schimmelpfennig, said on Tuesday the Afghan government had taken steps to repay loans and implement economic and banking reforms.
