Connect with us

Uncategorized

BREAKING: COVID-19: IMF grants debt relief to 25 countries, excluding Nigeria 

Published

on

The International Monetary Fund (IMF) says it has granted debt relief to 25 countries.

Kristalina Georgieva, Managing Director of the IMF, made this known in a statement issued on Monday.

“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,” the statement said.

“This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts.”

The IMF said that CCRT can currently provide about US$500 million in grant-based debt service relief, including the recent $185 million pledge by the U.K. and $100 million provided by Japan as immediately available resources.

Others, it said, including China and the Netherlands, are also stepping forward with important contributions.

Ms Giorgieva urged other donors to help the IMF replenish the Trust’s resources and boost further its ability to provide additional debt service relief for a full two years to its poorest member countries.

The countries that will receive debt service relief, the agency said, are Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R., The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali and Mozambiqud.

Others are Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo, and Yemen.

Kristalina Georgieva

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TRENDING

Politics4 months ago

Ex- Super Eagles Players Praise Asiwaju Tinubu’s Contributions to Nigeria, Sports

Former Nigeria’s international football players have commended All Progressives Congress National Leader, Asíwájú Bola Tinubu, for his contributions to democracy...

News4 months ago

Obiano’s wife was drunk – Bianca Ojukwu opens up on ‘valedictory slap’

Bianca, the wife of late Odumegwu Ojukwu, has explained why she slapped Ebele Obiano at the inauguration ceremony of Prof....

Politics4 months ago

Kaduna govt directs appointees seeking political office to resign

The Kaduna State Government has directed all political appointees and public servants aspiring for political offices in the 2023 general...

News4 months ago

Buhari approves new NBC board

President Muhammadu Buhari has approved the reconstitution of the Governing Board of the National Broadcasting Commission, NBC, following the expiration...

News4 months ago

Police arrest 2 soldiers, 3 others for robbing POS agent in Borno

The police in Borno have arrested five suspects, including two soldiers for alleged armed robbery and culpable homicide. Commissioner of...

News4 months ago

Terrorists kill DPO, 2 other policemen, 4 vigilantes in Niger

Suspected bandit terrorists have again hit Niger State, during which a Divisional Police Officer, DPO, two of his officers and four vigilante members were killed.  The...

Politics4 months ago

PDP will die in 2023 if it loses election – Atiku

Atiku Abubakar, a former Vice President, has said that the opposition Peoples Democratic Party (PDP) might not survive another eight...

News4 months ago

Presidency blames ‘Jonathan’ govt for recent national grid collapse

The Presidency has blamed the immediate past administration for the recent collapse of the nation’s power system. President Buhari’s Personal...

Uncategorized4 months ago

Mrs Dolapo in Maiduguri, marks Osinbajo’s birthday at North East Children’s Centre

Wife of the Vice President, Mrs Dolapo Osinbajo, was in Maiduguri on Monday to visit the North East Children’s Learning...

News7 months ago

Zulum to commission 22 schools, other projects in southern Borno

Governor Babagana Zulum of Borno has begun a five-day official visit to the southern part of the state to inaugurate...

Advertisement

Trending

Copyright © 2018 Daily correspondents