Browsing: IMF debt relief for Ethiopia

The International Monetary Fund (IMF) picked 28 countries that are to benefit from the $142.7 million debt relief program and Rwanda and Tanzania are drawing benefits.

In the East Africa region, Rwanda led the as the country that enjoyed the highest debt relief of $71.23 million while Tanzania followed at $26.43 million, Burundi at $25.42 million and Ethiopia at $19.71 million. South Sudan, Kenya and Uganda were not part of the selected 28 countries.

This comes after Bretton Woods institution which now plays a central role in the management of balance of payments difficulties and international financial crises, approved the third tranche of grants for debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust (CCRT).

In April and October last year, two tranches were approved which now facilitates the disbursement of grants under the CCRT for payments of all eligible debt service totalling $238 million …