According to IMF Managing Director Kristalina Georgieva, there is a mechanism for financial assistance to countries in an emergency. Already 20 countries have sent inquiries to the Fund after the outbreak of the COVID-19 epidemic.
The International Monetary Fund is ready to mobilize a loan potential of $ 1 trillion to assist in the fight against coronavirus. Kristalina Georgieva, the managing director of the Fund, wrote about this on March 16 in a blog on the IMF website.
According to her, there is a flexible emergency response toolkit to “help countries with urgent needs in the balance of payments,” the report said.
In particular, the IMF can provide about $ 50 billion to developing countries, up to $ 10 billion can be allocated to low-income countries at a zero rate.
The IMF now has 40 existing agreements totaling approximately $ 200 billion, they will also become a tool for quickly providing financing in a crisis situation, stressed Georgieva.
“We have also received requests from another 20 states and we will track them in the coming days,” she wrote.
As the managing director noted, the CCRT can help the poorest countries with debt repayments, which will “free up vital resources for healthcare, containment and mitigation of the outbreak of coronavirus infection.”
“At present, CCRT has about $ 400 million to ease debt relief. Our goal, with the help of donors, is to increase this figure to $ 1 billion,” Georgieva said.
An outbreak of COVID-19 coronavirus infection began in December 2019 in Wuhan, China. March 11, 2020 World Health Organization announced the spread of coronavirus pandemic.
As of the beginning of the day on March 16, a total of 80,860 confirmed cases were registered in China, 67,490 people were cured and discharged, 3213 died. According to the World Health Organization, as of March 15, 72,469 people in 143 countries have been infected with coronavirus outside of China. 10 955 were infected in the last day. 2531 fatal cases were registered, 333 of them in the last 24 hours.