The International Monetary Fund (IMF) announced Monday that it will provide emergency aid to 25 of the world's poorest countries to help them reduce their debt and cope better with the impact of the Covid pandemic. -19. The announced measure will cover debt repayments to the IMF for six months and "allocate more of their meager resources to their medical emergency and relief efforts," the statement said.
Debt relief in the form of donations
The 25 countries are: Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, DR Congo, Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, the Solomon Islands, Tajikistan, Togo and Yemen.
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This debt relief goes through the Disaster Assistance and Response Trust Fund (ARC Trust Fund) which allows the Fund to provide debt relief in the form of grants to the poorest and most vulnerable countries hit by a disaster. natural or public health disaster with disastrous consequences.
The Trust Fund currently has "a capacity of $ 500 million in immediately available resources, including the $ 185 million recently pledged by the United Kingdom and the $ 100 million provided by Japan," the fund said.
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"China and the Netherlands have also pledged significant contributions. I encourage other donors to help us replenish the fund and increase our ability to provide additional debt relief for two full years to poorest members of the IMF, "urged Kristalina Georgieva, who heads the IMF.