IMF Approves Fourth Round Of Debt Relief For Poor Countries
Fahad Shabbir (@FahadShabbir) Published October 08, 2021 | 11:43 PM
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
Washington, (APP - UrduPoint / Pakistan Point News - 8th 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, Burundi, Central African Republic, Comoros, Djibouti, Ethiopia, The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Nepal, 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
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
LCCI language courses from May 1
Governor for service oriented governance in Punjab
Survivors tell of panic at C.Africa river boat disaster
Enrolment campaign, awareness walk held in Lower Chitral
“Say no to plastic- yes to tress” campaign kicks off in Attock
'PML-N secures people's trust in by-polls'
More Stories From World
-
More than 50,000 displaced by clashes in northern Ethiopia: UN
14 minutes ago -
Tensions flare at US universities over Gaza protests
54 minutes ago -
Taiwan hit by dozens of strong aftershocks from deadly quake
1 hour ago -
Trump faces contempt hearing for comments on witnesses
1 hour ago -
Malaysia military helicopters crash, killing 10
1 hour ago -
China issues highest-level rainstorm warning in southern Guangdong: weather agency
1 hour ago
-
Asia hit hardest by climate, weather disasters in 2023:UN
1 hour ago -
Murray buzzer-beater lifts Nuggets over Lakers, Knicks stun Sixers
1 hour ago -
Musk lashes Australian order demanding X remove stabbing videos
1 hour ago -
In world first, Venice to trial day tickets
1 hour ago -
Highest-level rainstorm warning issued in south China's Guangdong
1 hour ago -
Rwandan LGBTQ fashion designer plans comeback after arrest
2 hours ago