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Browsing: Coronavirus cases in Central Republic
On Monday, the Executive Board of the International Monetary Fund (IMF) approved the immediate debt service relief of 25 of IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the fund’s response to help deal with the impacts of the contagious Coronavirus (COVID-19) pandemic.
According to a statement provided by the lender, the funds go after the world’s poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months.
Further—IMF highlighted that the debt relief will help these 25 nations to channel more of their scarce financial resources towards vital emergency medical and other relief efforts.
IMF’s Managing Director Ms Kristalina Georgieva, said “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 …