(Ecofin Agency) – The International Monetary Fund announced in a July 20 statement it has agreed to write off up to$7.6 million of Burundis debt.
The move aims to help the country face the coronavirus crisis and the socio-economic challenges that came with it. It is part of the Catastrophe Containment and Relief (CCR) Trust, and is expected to “help free up resources for public sector health needs including other emergency spending and help mitigate the balance of payments shock posed by the COVID-19 pandemic, the IMF said.
With 328 positive cases, including one death, Burundi expects its external financing needs to increase considerably for 2020 and 2021. This situation is due in particular to a drop in exports, a high need for imports…
Read the full article at: https://www.ecofinagency.com/public-management/2107-41652-imf-approves-7-6-mln-debt-relief-to-burundi
