Tag: Debt Relief
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IMF approves fresh round of debt relief for poor countries
The IMF has approved a fourth round of debt relief for 24 poor nations including new recipients Lesotho and Kyrgyzstan to help them weather the Covid-19 pandemic, according to a statement released Friday. The relief was provided under the Washington-based crisis lender’s Catastrophe Containment and Relief Trust (CCRT), which enables the IMF to provide grants…
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No debt relief for you, U.S. warns Africa leaders
The U.S. top Africa diplomat, Tibor Nagy, warned in Pretoria, South Africa on Monday that African countries running up debt they cannot pay back, including China, should not expect to be bailed out by western-sponsored debt relief. The International Monetary Fund and World Bank began the Heavily Indebted Poor Countries (HIPC) Initiative in 1996 to…