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The International Monetary Fund announced that it will extend for an additional 18 months access to the emergency financing program to help countries severely affected by the Covid-19 pandemic.
A statement issued by the Washington-based fund said that its Executive Board had approved a “temporary increase” to the limits to the use of its resources under the emergency financing instruments until June 2023.
And in April 2020, when the first wave of infections and deaths from the Corona virus hit the world, the IMF provided facilities to countries to access such aid, including raising the level of financing that countries can obtain.
These programs have already been extended twice, in September 2020 and last March, and the Executive Board has also agreed to reduce all other temporarily increased benefit limits to pre-pandemic levels as of January 1, 2022.
The Fund stressed that the decision guarantees "continuous access" for member states to the IMF's emergency financing programs in the event of urgent problems in the balance of payments.
They include the Rapid Credit Facility, an interest-free program available to low-income countries, and a rapid financing instrument available to all members of the Fund, which can disburse funds very quickly to help member countries implement emergency response policies.
[You must be registered and logged in to see this link.]
The International Monetary Fund announced that it will extend for an additional 18 months access to the emergency financing program to help countries severely affected by the Covid-19 pandemic.
A statement issued by the Washington-based fund said that its Executive Board had approved a “temporary increase” to the limits to the use of its resources under the emergency financing instruments until June 2023.
And in April 2020, when the first wave of infections and deaths from the Corona virus hit the world, the IMF provided facilities to countries to access such aid, including raising the level of financing that countries can obtain.
These programs have already been extended twice, in September 2020 and last March, and the Executive Board has also agreed to reduce all other temporarily increased benefit limits to pre-pandemic levels as of January 1, 2022.
The Fund stressed that the decision guarantees "continuous access" for member states to the IMF's emergency financing programs in the event of urgent problems in the balance of payments.
They include the Rapid Credit Facility, an interest-free program available to low-income countries, and a rapid financing instrument available to all members of the Fund, which can disburse funds very quickly to help member countries implement emergency response policies.
[You must be registered and logged in to see this link.]
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