• Economy
  • Industry
    • Industry
    • Banking
    • Agriculture
    • Energy
    • Telecoms
    • Real Estate
    • Insurance
    • Manufacturing
    • Education
    • Transportation
    • Technology
    • Media
    • Textile
    • Tourism
  • Markets
  • SME Focus
  • Financial Crime
  • World
    • World
    • United States
    • Asia
    • China
    • Europe
    • Britain
    • South America
  • News
  • Opinion
July 2, 2022

  • Economy
  • Industry
      • Banking
      • Agriculture
      • Energy
      • Telecoms
      • Real Estate
      • Insurance
      • Manufacturing
      • Education
      • Transportation
      • Technology
      • Media
      • Textile
      • Tourism
    • Markets
    • SME Focus
    • Financial Crime
    • World
      • United States
      • Asia
      • China
      • Europe
      • Britain
      • South America
    • News
    • Opinion

    HomeEconomyIMF approves immediate Debt Relief for 19 African countries, excluding Nigeria.

    IMF approves immediate Debt Relief for 19 African countries, excluding Nigeria.

    • April 14, 2020
    • 0 comments
    • Demola
    • Posted in EconomyNews

    The International Monetary Fund has granted debt relief to 25 countries, mostly African nations excluding Nigeria.

    A statement by the Managing Director of the IMF, Kristalina Georgieva, said it would provide $500m in grant-based debt service relief to these countries.

    She said; “Today, I am pleased to say that our Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.

    “This 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.

    “The CCRT can currently provide about US$500 million in grant-based debt service relief, including the recent US$185 million pledge by the U.K. and US$100 million provided by Japan as immediately available resources. Others, including China and the Netherlands, are also stepping forward with important contributions. I urge other donors to help us replenish the Trust’s resources and boost further our ability to provide additional debt service relief for a full two years to our poorest member countries,” she concluded.

    The countries that will receive debt service relief today are: Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R., The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo, and Yemen.

    Share this:

    • Tweet
    • WhatsApp
    • Telegram
    • Email
    • Print
    • More
    • Pocket
    • Share on Tumblr

    Comments

    comments

    Related Posts

    0 comments
    News

    Nigeria, Russia sign off military agreement

    0 comments
    News

    Zambia’s new finance minister says IMF deal key to fixing debt problems

    0 comments
    News

    Nigeria begins second phase of COVID-19 vaccination

    NCC set to build ICT parks targeted at propelling Nigeria’s socio-economic transformation

    • April 13, 2020
    • 0 comments

    South African central bank delivers surprise rate cut

    • April 14, 2020
    • 0 comments

    Share this

    About author

    Demola

    Related Posts

    0 comments
    News

    Nigeria, Russia sign off military agreement

    0 comments
    News

    Zambia’s new finance minister says IMF deal key to fixing debt problems

    0 comments
    News

    Nigeria begins second phase of COVID-19 vaccination

    0 comments
    News

    UK donates 700,000 doses of Johnson & Johnson COVID-19 vaccines to Nigeria

    Tags

    • IMF
    • Nigeria

    Leave a Reply Cancel reply

    © 2017 Business Africa
    • About Us
    • Ad Rates
    • Contact
     Tweet
     Share
     E-mail
     Tweet
     Share
     E-mail
     Tweet
     Share
     E-mail
    loading Cancel
    Post was not sent - check your email addresses!
    Email check failed, please try again
    Sorry, your blog cannot share posts by email.