The IMF will weaken the debt burden to 25 countries

The international monetary Fund against the background of the fight against the pandemic COVID-19 Monday decided to debt relief for 25 countries.

МВФ ослабит долговое бремя 25 странам

The corresponding statement the managing Director of the IMF’s Kristalina Georgieva published on the IMF website, reports UKRINFORM.

“I am pleased to announce that today (April 13 — ed.), 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 disasters (CCRT) as part of the response Fund to facilitate in overcoming the consequences of the pandemic COVID-19,” said Georgieva.

She stressed that this decision grants the poorest and most vulnerable members of the IMF to cover their debt to the Fund at the initial stage over the next six months. This will help them to direct more of its financial resources to provide vital emergency medical and other assistance.

In the list of countries that are first to receive debt relief under CCRT, included Afghanistan, Benin, Burkina Faso, Haiti, 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.

According to Georgieva, CCRT is currently able to provide about 500 million dollars to ease the debt servicing on the basis of grants, including the recent commitment from the United Kingdom in the amount of 185 million U.S. dollars and 100 million US dollars provided by Japan in the form of resources immediately available for use. Other countries, including China and the Netherlands, also report on significant contributions.

As reported previously, Georgieva said that the situation in the world economy is worse than during the crisis of 2008-2009.

According to the Worldometer website, as of the morning of April 14, the total number of recorded cases in the world COVID-19 is 1 926 235, 724 119 of them fatal, 452 367 recovered.