IMF to provide debt relief to help 25 countries deal with pandemic

The International Monetary Fund said on Monday it would provide immediate debt relief to 25 member countries under its Catastrophe Containment and Relief Trust (CCRT) to allow them to focus more financial resources on fighting the coronavirus pandemic.

IMF Managing Director Kristalina Georgieva said the fund’s executive board approved on Monday the first batch of countries to receive grants to cover their debt service obligations to the fund for an initial six months.