The IMF is still at the bedside of the poorest in this time of global crisis. The fund on Monday approved new emergency aid for 28 countries, 22 of which are in Africa. The money received will allow them to either alleviate their debt or help fund the fight against the effects of the pandemic, the IMF says.
Last April, The IMF relieved the debt in 25 countries among the poorest by activating an emergency mechanism, the Trust Fund for Assistance and Response to Natural Disasters. A fast and efficient tool, a giant purse of $ 500 million filled with rich countries and new countries that the IMF would like to see triple in size. Because this trust fund will be used again from this month to help a group of 28 countries, including 22 African.
They could receive a total amount of $ 959 million by April 2022. The advantage of this trust fund is that it involves donations and no debt refundable. Countries can use the money either for debt relief or to combat the pandemic and its effects, including improving health systems.
In Africa, with the exception of Rwanda, it is the less affluent who are served. Although Mali is qualified, it is still on the waiting list. The Foundation will first know whether the international community will recognize the new government as a result of the military regime.
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