Japanese Finance: Tokyo will pledge a contribution to a trust fund for the countries affected by Corona
The Economy News - Baghdad
Reuters, quoting a Japanese Finance Ministry official, said on Wednesday that Tokyo will pledge next week to make a contribution to the International Monetary Fund (IMF) trust fund, which will provide debt relief for low-income countries that are badly affected by the Corona virus.
The source, who is directly familiar with the matter but on condition of anonymity, added that Finance Minister Taro Aso will make the pledge, along with other contributions, during a meeting of the International Monetary Fund and financial leaders of the Group of Twenty major economies next week.
He added that work to complete the plan, including the amount pledged by the country, is still underway.
The fund and financial leaders will be held remotely due to the Coruna virus epidemic.
The Trust Fund for Disaster Containment and Debt Relief provides grants to countries eligible to reduce the burden of servicing their debts to the International Monetary Fund. The international lender said this facility was especially effective during the 2014 Ebola outbreak.
The IMF seeks to boost the funds available in the trust fund from about $ 200 million to $ 1 billion, with the help of donors.