WASHINGTON (Pakistan Point News / Sputnik - 06th October, 2020) The International Monetary Fund (IMF) said in a statement that it has approved a six-month debt relief extension for 28 low-income countries.
"The Executive board of the International Monetary Fund (IMF) approved on October 2, 2020 a second six-month tranche of debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust (CCRT)," the release said on Monday.
The release said the debt relief will help these countries free up limited financial resources for crucial emergency medical needs and other relief efforts.
The CCRT needs about $1.4 billion to provide debt relief services for a maximum of two years, but has only received one-third of the amount from several donor countries.
