IMF Approves Aid For World’s 28 Poorest Countries
Written by COMFORT 95.1FM on October 6, 2020
New emergency aid has been approved by the International Monetary Fund for twenty-eight of the world’s poorest countries to help them cope with the impact of the coronavirus pandemic.
The announcement, which follows a similar measure passed in April for 25 countries, is intended to help the countries cover their debt repayments to the IMF for the next six months.
It said the aid would free up scarce financial resources for vital emergency medical and other relief efforts” during the pandemic.
The twenty-eight countries receiving the second tranche of aid are Afghanistan, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Djibouti, Ethiopia, Gambia, Guinea and Guinea-Bissau.
Others are Haiti, Liberia, Madagascar, Malawi, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, the Solomon Islands, Tajikistan, Tanzania, Togo and Yemen.
The IMF said Mali is also eligible for aid but has not yet been added to the list because of lack of clarity on whether the international community recognizes the current military regime as the government of Mali.
The debt relief is channeled through the Catastrophe Containment and Relief Trust, which enables the IMF to provide grants to the poorest and most vulnerable countries hit by a natural disaster or public health crisis.