The International Monetary Fund (IMF) has announced it has granted debt relief to over 25 poor member countries.

The International Monetary Fund (IMF) is an organization of 189 countries, that helps foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and reduce poverty around the world.

Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership and helps countries during times of financial crisis.

Describing the Covid-19 pandemic as an unexpected shock to the financial situations of so many countries, the Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, in a statement in Washington last night, announced debt service relief for 25 poor countries saying the debt relief was to enable the affected countries to better tackle the COVID-19 pandemic.

The countries that were relieved of the debt include Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R., The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo and Yemen.