IMF Approves Fourth Round Of Debt Relief For Poor Countries
Mohammad Ali (@ChaudhryMAli88) Published October 09, 2021 | 12:40 AM
Washington, Oct 8 (UrduPoint / Pakistan Point News - 9th Oct, 2021 ) :The IMF has approved a fourth round of debt relief for 24 poor nations including new recipients Lesotho and Kyrgyzstan to help them weather the Covid-19 pandemic, according to a statement released Friday.
The relief was provided under the Washington-based crisis lender's Catastrophe Containment and Relief Trust (CCRT), which enables the IMF to provide grants to the poorest and most vulnerable countries hit by a natural disaster or public health crisis.
In its statement, the International Monetary Fund said the relief was the fourth approved since the pandemic began and totaled $124 million.
"This debt service relief helps free up scarce financial resources for vital health, social and economic support to mitigate the impact of the COVID-19 pandemic," the institution said.
The current round covers payments due through January 10 of next year, and the IMF said it may also extend the relief till April 13, the two-year anniversary of the first tranche of aid.
If it did so, total relief would amount to $973 million.
Lesotho and Kyrgyzstan were added because they "meet the eligibility and qualification requirements for CCRT debt service relief in connection with the Covid-19 pandemic," the IMF said.
Besides those two, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Djibouti, Ethiopia, The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, Solomon Islands and Tajikistan received aid.
However Afghanistan, which had previously received relief, would not be getting aid this round because "there remains a lack of clarity within the international community regarding the recognition of the government in Afghanistan.
"As such, the Fund's engagement with Afghanistan continues to be on pause," the statement said.
Related Topics
Recent Stories
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
U.S. envoy calls on Foreign Minister Ishaq Dar
Poland arrests man over suspected plan to kill Zelensky
EU wants to ease youth movement to and from UK
Police foils attempt of supply mainpuri raw material
More Stories From Miscellaneous
-
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
4 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
4 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
5 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
8 days ago -
Radio Bahawalpur to broadcast Eid programs
10 days ago -
DC, DPO Haripur inspect bus terminals to review fares compliance
11 days ago
-
Second phase of refugees’ repatriation to start after Eidul Fitr vacations
12 days ago -
Reaping bounties as Ramazan culminates
12 days ago -
Digital transformation – a boon or bane
12 days ago -
Plants’ business: Another casualty of climate change
14 days ago -
Eid shoppers prioritize children’s joy over personal comforts
14 days ago -
Besant Hall Cultural Centre honoring Pir Hassam din Rashdi to take place on April 1
19 days ago