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IMF has approved a second six-month tranche of debt service relief for 28 member countries, including 22 African nations. We provide you with the latest news and videos straight from the entertainment industry. While the move is being welcomed, some finance experts say the world's wealthiest nations can do more — especially for the African nations on the list. Copyright 2020. She loves travelling and meeting people as these help her in learning more about people, places and cultures. Majority of the new cases (177) were reported... DR Congo said Thursday it would launch an inquiry into accusations that international workers in an anti-Ebola campaign had sexually abused local women. Jokpa Mudia is an enthusiastic and self-motivated writer for Development Diaries. IMF Executive Board Approves Immediate Debt Relief for 25 Countries. Photo source: International Monitory Fund. The International Monetary Fund (IMF) has approved a six-month extension of debt service relief for 28 member low-income countries.. Her interests are creative writing, research and advocacy reviews. The International Monetary Fund (IMF) has approved a second six-month tranche of debt service relief for 28 member countries, including 22 African nations, under the Catastrophe Containment and Relief Trust (CCRT). JOHANNESBURG -  The International Monetary Fund has approved a $500 million package to give six months of debt relief to developing nations struggling with the coronavirus pandemic. Uganda’s Ministry of Health on Thursday reported 182 new coronavirus cases raising the national total to 9,442. Some African analysts dismissed the IMF's concerns, citing the continent's relatively low debt levels. Copyright © 2018 CGTN. Author: Dr. Richard Bonaventura Mbunda +2348180039899 The debt-to-GDP ratio in most African countries is below the IMF's suggested 55% threshold. But African experts are quick to note gaps in testing and health infrastructure, meaning that even in developed nations like South Africa, there are likely many, many more cases than doctors know about. Sabo-Yaba, Lagos, Nigeria ImpactHouse International Eric LeCompte, executive director of the Jubilee USA Network, a coalition of religious organizations that works for international finance system reform, says the plan will provide much-needed relief to countries like the Central African Republic, Chad, the Democratic Republic of Congo, Liberia, Malawi, Mali, Niger and Rwanda. ‘Relief on debt service will free up scarce financial resources for vital emergency medical and other relief efforts while these members combat the impact of the Covid-19 pandemic’, IMF said in a statement. And, LeCompte said, wealthy nations can also do more. [Learn More]. 7 Raymond Street, Off Commercial Avenue, He singled out one in particular. The 28 countries receiving the second tranche of aid are Afghanistan, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Djibouti, Ethiopia, The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, the Solomon Islands, Tajikistan, Tanzania, Togo and Yemen. The African oil exporter has buckled under a rising debt burden following a sharp decline in crude prices and amid the economic fallout from the coronavirus pandemic. “Although debt is sustainable, significant vulnerabilities remain,” the IMF said in its report, declining to name the creditors. All rights reserved | Developed by. editor[at]developmentdiaries[dot]com JOHANNESBURG - The International Monetary Fund has approved a $500 million package to give six months of debt relief to developing nations struggling with the coronavirus pandemic. Angola gets $6.2 billion debt relief from major creditors: IMF, IMF approves release of $1 billion to Angola for COVID-19 economic aid, IMF Managing Director Georgieva supports debt relief for Somalia, Kenya Airways resumes flights to Tanzania, Former defense minister appointed Mali’s transitional president, Uganda reports 182 new COVID-19 cases as total edges towards 10,000, DR Congo to probe allegations of sex abuse by Ebola workers, Kenyans increase use of plastic cards amid the COVID-19 pandemic. , South Africa and Nigeria — are not included in the package Literary Studies from State... Nigeria — are not included in the package its report, declining to name the.. Six-Month tranche of debt service relief for 25 countries on Thursday reported 182 new coronavirus cases raising national. Kenya, South Africa and Nigeria — are not included in the package dynamics are highly sensitive to further volatility.! 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