fight the coronavirus pandemic<\/strong>.<\/p>\nThe IMF Executive Board has approved the first batch of countries to receive grants to cover their IMF debt obligations for the first six months under its Catastrophe Containment and Relief Trust (CCRT).<\/p>\n
\u201cThis 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,\u201d said IMF Managing Director Kristalina Georgieva<\/strong>.<\/p>\n![\"IMF](\"https:\/\/www.nepalisansar.com\/wp-content\/uploads\/2020\/04\/IMF-Managing-Director-Kristalina-Georgieva.jpg\" "\\"IMF")
Photo: IMF MD Kristalina Georgieva<\/p><\/div>\n
\n- Afghanistan<\/li>\n
- Benin<\/li>\n
- Burkina<\/li>\n
- Central African Republic<\/li>\n
- Chad<\/li>\n
- Comoros Haiti<\/li>\n
- Faso<\/li>\n
- Gambia<\/li>\n
- Guinea<\/li>\n
- Guinea-Bissau<\/li>\n
- Liberia<\/li>\n
- Madagascar<\/li>\n
- Malawi<\/li>\n
- Mali<\/li>\n
- Mozambique<\/li>\n
- Nepal<\/li>\n
- Niger<\/li>\n
- Rwanda<\/li>\n
- S\u00e3o Tom\u00e9 and Pr\u00edncipe<\/li>\n
- Sierra Leone<\/li>\n
- Solomon Islands<\/li>\n
- Tajikistan<\/li>\n
- The Democratic Republic of Congo<\/li>\n
- Togo<\/li>\n
- Yemen<\/li>\n<\/ol>\n
According to the IMF MD Kristalina, the CCRT has USD 500 million that includes a contribution from-<\/strong><\/p>\n\n- Britain \u2013 USD 185 million<\/li>\n
- Japan \u2013 USD 100 million<\/li>\n
- China – Undisclosed<\/li>\n
- Netherlands \u2013 Undisclosed<\/li>\n<\/ul>\n
Around USD 215 million will be granted for the first 25 countries over the next six months with a possible extension period of 2 years.<\/p>\n
However, the IMF is striving to raise a total of USD 1.4 billion and requested the other donor countries to contribute to the CCRT to provide additional financial relief to poor countries.<\/p>\n
\u201cThe grants would help the IMF\u2019s poorest members, including the Central African Republic, which has only three critical-care unit beds for a population of 5 million,\u201d said Eric LeCompte, Jubilee USA Network Executive Director.<\/p><\/blockquote>\n
The IMF and the World Bank urged the rich countries to stop collecting debt payments from poor countries from May 1, 2020 through June 2021.<\/p>\n
Earlier, the World bank promised to contribute USD 160 billion in emergency aid to aid countries affected by coronavirus, including USD 14 billion in debt repayments from 76 poor countries to other nations.<\/p><\/blockquote>\n
So far, the coronavirus has affected 210 countries and territories around the world and infected 1,925,853 people while claiming 119,719 lives.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the need of the hour, the International Monetary Fund (IMF) has come forward to provide…<\/span><\/p>\nRead more<\/a><\/div>\n<\/p>\n","protected":false},"author":761,"featured_media":26999,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7042,14921,6655,3,14607,7640],"tags":[8765,9543],"yoast_head":"\n
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