IMF Managing Director Ms. Kristalina Georgieva announced that the Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.
The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk.
The World Bank Group and International Monetary Fund have issued the following joint statement to the G20 concerning debt relief for the poorest countries:
At the request of the Argentine authorities and reflecting close collaboration with them, the International Monetary Fund (IMF) released on Friday a technical note prepared by IMF staff on Argentina’s public debt sustainability.
The International Monetary Fund has quickly rejected a surprise request on Tuesday by Venezuela for an emergency US$ 5 billion loan to fight the new coronavirus, which threatens to push its already battered economy over the edge.
IMF chief Kristalina Georgieva on Wednesday called for an all-out, “no regrets” response to the new coronavirus epidemic which poses a “serious threat” to the global economy.
Argentina agreed to start consultations with the International Monetary Fund that could lead to a new financing program, days after the global lender said the country’s debt situation had become “unsustainable”.
An IMF team, led by Julie Kozack Deputy Director of the Western Hemisphere Department and Luis Cubeddu Mission chief for Argentina, visited Buenos Aires from February 12 to 19, 2020 to discuss the recent macroeconomic developments and learn more about the Argentine authorities’ economic plans and policies. At the conclusion of the staff visit, Ms Kozack and Mr Cubeddu issued the following statement:
In the best-case scenario, the economic hit from the epidemic in China will be short-lived, but it comes as the global economy remains fragile, IMF chief Kristalina Georgieva said on Wednesday.
We need to understand better how various policy options interact our goal is to provide country-specific advice on the appropriate mix of policies needed to preserve growth and financial stability