WASHINGTON (Pakistan Point News / Sputnik - 21st December, 2021) The International Monetary Fund (IMF) said in a statement that it has� extended its debt relief service for 25 low-income countries.
"The Executive board of the International Monetary Fund (IMF) approved on December 15, 2021 a fifth and final tranche of debt service relief under the Catastrophe Containment and Relief Trust (CCRT) for 25 member countries with eligible debt service falling due to the IMF from January 11 to April 13, 2022," the statement said on Monday.
The IMF explained in the statement the new approval is in the amount of $115 million, noting that this tranche follows four previous similar measures it undertook in the past two years.
"The tranche completes the two-year COVID-19-related debt service relief first approved on April 13, 2020, totaling a cumulative debt service relief of about SDR 690 million (US$ 964 million)," the statement said.
The IMF said it looks forward to the comprehensive review of the CCRT planned for fiscal year 2023, the statement added.
