IMF and World Bank call for debt relief for poor countries
US, WASHINGTON (ORDO NEWS) — The World Bank and the International Monetary Fund on Wednesday called on official bilateral creditors to immediately alleviate the debt of the world’s poorest countries who may face the brunt of the coronavirus health crisis.
In a joint statement, the two institutions ask creditors to suspend repayments issued by member countries of the International Development Association (IDA) which represent a quarter of the world’s population and two-thirds of the populations living in a state of extreme poverty.
“This will help IDA countries resolve their immediate cash needs in order to overcome the challenges posed by the coronavirus epidemic and take the time to assess the impact of the crisis and the financing needs of each country. “said the IMF and the World Bank in a statement.
Among the AID member countries, there are many African states that have been relatively untouched by the coronavirus epidemic but where cases are starting to multiply.
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