Haiti is the only Caricom country that is set to benefit from a fifth and final round of debt relief for 25 low-income countries by the International Monetary Fund (IMF).
The IMF executive board approved the relief on debt service for the 25 member countries that are eligible for support from the Catastrophe Containment and Relief Trust (CCRT) with the Washington-based financial institution indicating that a further four countries are expected to request such relief in the coming weeks.
“The approval enables the disbursement of grants from the CCRT for repayment of total debt service falling due to the IMF over the next six months, with potential extensions, up to a maximum of full two years from April 14, 2020, subject to availability of sufficient grant resources,” the IMF said.
The IMF further noted that the funds are intended to help some of the world’s most vulnerable countries tackle the consequences of the coronavirus pandemic.
Other countries set to benefit from the debt service relief include the following: Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, DR, the Gambia, Guinea, Guinea-Bissau, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo, and Yemen.
Readers Bureau, Contributor
Edited by Jesus Chan
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