As Coronavirus Spreads, IMF Cancels 6 Months Of Debt For Poorest Countries

April 13, 2020
220 Views


The board of the International Monetary Fund approved $500 million through the IMF Catastrophe Containment and Relief Trust to cancel 6 months of debt service for Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R., The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo and Yemen.

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement:

Today, I am pleased to say that our Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.

“This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts.

“The CCRT can currently provide about US$500 million in grant-based debt service relief, including the recent US$185 million pledge by the U.K. and US$100 million provided by Japan as immediately available resources. Others, including China and the Netherlands, are also stepping forward with important contributions. I urge other donors to help us replenish the Trust’s resources and boost further our ability to provide additional debt service relief for a full two years to our poorest member countries.”

Share this post with your Friends on


Go Back To The Top


Looking for something? Search below



You may be interested

FA Cup: Ndidi Returns As Maguire’s Late Strike Vs Leicester Sends United Into 5th Round
News
11 views
News
11 views

FA Cup: Ndidi Returns As Maguire’s Late Strike Vs Leicester Sends United Into 5th Round

Webby - February 7, 2025

A late Harry Maguire strike earned Manchester United a 2-1 win against Leicester City in the Emirates FA Cup fourth…

Sports
4 views

Martinelli Ruled Out For More Than One Month With Hamstring Injury

Webby - February 7, 2025

Arsenal winger Gabriel Martinelli faces more than a month out after suffering a hamstring injury during his side’s Carabao Cup…

Adams To Be Sidelined With Thigh Injury
Sports
7 views
Sports
7 views

Adams To Be Sidelined With Thigh Injury

Webby - February 7, 2025

Sevilla forward Jerome Adams is expected to be sidelined for a significant period of time due to a thigh injury.…

Leave a Comment

Your email address will not be published.