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.
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:
Central African Republic
Republic of Comoros
Democratic Republic of the Congo
Republic of Madagascar
Republic of Mozambique
Democratic Republic of Sao Tome and Principe
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.
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