The International Monetary Fund on Monday announce the approval of new emergency aid for 28 of the world’s poorest countries to help them alleviate their debt and better cope with the impact of the coronavirus pandemic.
The 28 countries receiving the second tranche of aid are listed below;
Afghanistan, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Djibouti, Ethiopia, Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, the Solomon Islands, Tajikistan, Tanzania, Togo and Yemen.
Mali is also eligible for aid but has not yet been added to the list because “there is a lack of clarity as to whether the international community recognizes/deals with the current military regime as the government of Mali,” the IMF said.
The debt relief is channelled through the Catastrophe Containment and Relief Trust (CCRT), Subject to sufficient resources in the CCRT, grants could be provided for a two-year period through mid-April 2022 for an estimated total amount of $959 million.
The IMF’s goal is to endow the CCRT with $1.4 billion so that it can also meet future needs.
To date, $506.5 million has been contributed by several countries, including the United Kingdom, Japan, Germany, the Netherlands, Switzerland, Norway, China, Mexico, Sweden, Bulgaria, Luxembourg and Malta.
- AFP
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