IMF grants funds to 28 world’s poorest countries.

The International Monetary Fund has approved a new emergency aid for 28 countries which are termed the world’s poorest. The funds, are to help them ease their debt and cope better with the impact of the coronavirus pandemic. Mali which is eligible for the aid, is yet to be added to the list since it is not clear whether the International community deals with the current Military regime as that of their government.

The seal of the International Monetary Fund (IMF) in Washington, DC (Photo: AFP)

Among the countries receiving the funds are Afghanistan, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Djibouti, Ethiopia, Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, the Solomon Islands, Tajikistan, Tanzania, Togo and Yemen.

This announcement follows a similar measure passed in Mid-April for 25 countries to help them cover their debt repayments to the IMF for the next six months and “free up scarce financial resources for vital emergency medical and other relief efforts” during the pandemic.

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