IMF and WB ask governments to ‘put debt payments on hold’ to help poor nations fight COVID-19
This is specifically for countries that qualify for aid from the ‘IDA’ fund
The International Monitory Fund (IMF) has called for governments to put debt payments from poor nations on hold so they can battle the COVID-19 pandemic.
“The World Bank Group (WB) and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets”, the development lenders said in a joint statement.
This is specifically for countries that qualify for aid from the ‘IDA’ fund, aimed at the two-thirds of the world’s population living under the poverty line.
Both the World Bank and IMF believe that it is important at this moment to provide relief to developing countries, so they can concentrate on the fight against coronavirus outbreak.
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