BREAKING NEWS: IMF Debt Relief for 19 African Countries!

April 13th, 2020

Late today the Managing Director of the #IMF, #Kristalina #Georgieva, announced the IMF was revamping its #Catastrophe Containment & Relief Trust (#CCRT) to add $500 million in #debt #relief for 25 developing member states (19 of them from Africa).

The IMF intends to run the program for two years. The #UK ($185M) and #Japan ($100) have made funds immediately available for the grant based debt relief program. #China and the #Netherlands have promised to add to the account. The half billion dollars will make a significant contribution in aiding 19 African states affected by the global economic slowdown associated with travel restrictions and lockdowns.
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