Covid-19: 24 Countries in Sub-Saharan Africa Have So Far Received $4.5B in Emergency Financial Assistance from the IMF

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24 Countries in Sub-Saharan Africa Have So Far Received $4.5B in Emergency Financial Assistance from the IMF Since the Covid-19 Outbreak Started.

Covid-19: 24 Countries in Sub-Saharan Africa Have So Far Received $4.5B in Emergency Financial Assistance from the IMF
©IMF

The International Monetary Fund (IMF) has published a list of 24 countries from Africa that have so far received emergency financial assistance under the Rapid Credit Facility (RCF), Rapid Financing Instrument (RFI), and augmentation of existing financing arrangements, as well as debt relief grants financed by the Catastrophe Containment and Relief Trust (CCRT).

The list includes:




Country
1 Benin
2 Burkina Faso
3 Cabo Verde
4 Central African Republic
5 Chad
6 Republic of Comoros
7 Democratic Republic of the Congo
8 Cote d’Ivoire
9 Gabon
10 The Gambia
11 Ghana
12 Guinea
13 Guinea-Bissau
14 Liberia
15 Republic of Madagascar
16 Malawi
17 Mali
18 Republic of Mozambique
19 Niger
20 Rwanda
21 Democratic Republic of Sao Tome and Principe
22 Senegal
23 Sierra Leone
24 Togo

A survey of the world map shows Africa has received the largest share of the emergency funding help from the IMF totaling to about $4.5 billion followed by Middle East and Central Asia $2.6 billion.



Sub-Saharan Africa also accounts for the most multiple funding from IMF since the Covid-19 outbreak started.

According to the IMF, The disbursement will help address the urgent fiscal and balance of payments needs that Africa is facing, improve confidence, and catalyze support from other development partners.



Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.
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