The international monetary Fund will ease the debt burden for 25 of the poorest countries in the world. This decision was taken by the IMF Executive Board. The most vulnerable States will provide grants, through which they will be able to pay off the debts to the IMF and to spend more on combating coronavirus.
We are talking about Afghanistan, Benin, Burkina Faso, Haiti, the Gambia, Guinea, Guinea-Bissau, Comoros, Yemen, the Democratic Republic of the Congo, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Solomon Islands, Sierra Leone, Tajikistan, Togo, Central African Republic and Chad.
This was reported on the IMF website.
“I am pleased to announce that today, our Executive Board approved immediate debt relief for 25 countries-members of IMF in the framework of the revised IMF — the trust Fund for the limitation and elimination of consequences of catastrophes,” — said in the message of the managing Director of the IMF Kristalina Georgiev.
It is clarified that the total amount of grant aid is $500 million It was formed by special contributions from the UK, China and Japan.
“I encourage other donors to support the replenishment of the trust Fund and to further improve our ability to provide additional debt relief within two years of our poorest member States,” said Georgieva.