IMF grants 25 countries debt relief


International Monetary Fund grants 25 countries debt relief

By Emma Ujah, Abuja Bureau Chief

The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, has announced debt service relief for 25 poor countries.

The MD in a statement, last night, in Washington, said that the debt relief was to enable the affected countries to better tackle the COVID-19 pandemic.

The countries were: 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

She said, ” 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…

Source: Vanguard Newspaper