Coronavirus in Nigeria: IMF Announces Debt Service Relief for 25 Countries

The International Monetary Fund, IMF announces Debt Service relief for 25 Countries. This was contained in a statement released by the Managing Director, Ms Kristalina Georgieva. The MD said the debt relief was to enable the coronavirus affected countries to manage the pandemic better.

IMF Announces Debt Service Relief for 25 Countries

  1. Afghanistan
  2. Benin
  3. Burkina Faso
  4. Central African Republic
  5. Chad
  6. Comoros
  7. Congo
  8. D.R.
  9. The Gambia
  10. Guinea,
  11. Guinea-Bissau
  12. Haiti, Liberia
  13. Madagascar
  14. Malawi
  15. Mali
  16. Mozambique
  17. Nepal
  18. Niger
  19. Rwanda
  20. São Tomé
  21. Príncipe
  22. Sierra Leone
  23. Solomon Islands
  24. Tajikistan, Togo
  25. Yemen
 Imf Announces Debt Service Relief For 25 Countries
Coronavirus in Nigeria: IMF Announces Debt Service Relief for 25 Countries 3

She said, ” 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.

“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 CCRT can currently provide about US$500 million in grant-based debt service relief, including the recent US$185 million pledge by the UK and US$100 million provided by Japan as immediately available resources. Others, including China and the Netherlands, are also stepping forward with important contributions. I urge other donors to help us replenish the Trust’s resources and boost further our ability to provide additional debt service relief for a full two years to our poorest member countries.”

IMF Announces Debt Service Relief for 25 Countries

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