By Reuters Staff
2 Min Read
IMF Managing Director Kristalina Georgieva President David Malpass prior to a Development Committee meeting, during the IMF and World Bank s 2019 Annual Meetings of finance ministers and bank governors, in Washington, U.S., October 19, 2019. REUTERS/Mike Theiler/File Photo
WASHINGTON (Reuters) - Chad’s creditors will get together within the next week to deal with the African country’s request for debt relief under a new common framework agreed last year by the Group of 20 major economies and the Paris Club of official creditors, IMF chief Kristalina Georgieva said on Tuesday.
Georgieva announced the move during a broader discussion about debt concerns during the spring meetings of the International Monetary Fund and the World Bank.
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LONDON, April 7 (Reuters) - Debt experts, charity groups and investors welcomed news on Wednesday that the world’s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution.
A new $650 billion allocation of the IMF’s quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion.
The $20 billion share of the SDR increase alone is more than all the emergency money the IMF provided in Africa here last year and in relative terms, those under the most serious stress will receive the biggest benefit.
5 Min Read
LONDON (Reuters) -Debt experts, charity groups and investors welcomed news on Wednesday that the world’s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution.
Pedestrians walk in Buenos Aires financial district, Argentina September 24, 2020. REUTERS/Agustin Marcarian
A new $650 billion allocation of the IMF’s quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion.
The $20 billion share of the SDR increase alone is more than all the emergency money the IMF provided in Africa here last year and in relative terms, those under the most serious stress will receive the biggest benefit.