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Debt service relief for 28 low-income countries

Updated: Mar 24, 2021


International Monetary Fund
Relief on debt service will free up scarce financial resources for vital emergency medical efforts and other relief efforts. PHOTO: ImageCollab

A second six-month tranche of debt service relief for 28 member countries was approved by the executive board of the International Monetary Fund (IMF) under the Catastrophe Containment and Relief Trust on 2 October. This approval follows the first six-month tranche from 14 April to 13 October 2020 and enables the disbursement of grants from the trust for payment estimated at SDR 161 million for eligible debt service falling due to the IMF from 14 October 2020 to 13 April 2021.


Kristalina Georgieva, managing director of the Catastrophe Containment and Relief Trust, says relief on debt service will free up scarce financial resources for vital emergency medical efforts and other relief efforts while these members combat the impact of the COVID-19 pandemic. She says subject to availability of sufficient resources in the trust, debt service relief could be provided for a total period of two years through to 13 April 2022 estimated at nearly SDR 680 million.