IMF to provide debt relief to help 25 countries deal with pandemic

IMF Managing Director Kristalina Georgieva(pic) said the Fund's executive board on Monday approved the first batch of countries to receive grants to cover their debt service obligations to the Fund for an initial six months.

WASHINGTON: The International Monetary Fund on Monday said it would provide immediate debt relief to 25 member countries under its Catastrophe Containment and Relief Trust to allow them to focus more financial resources on fighting the coronavirus pandemic.

IMF Managing Director Kristalina Georgieva said the Fund's executive board on Monday approved the first batch of countries to receive grants to cover their debt service obligations to the Fund for an initial six months.