IMF Says It Can Step in to Ease Economic Impact of Virus

IMF Says It Can Step in to Ease Economic Impact of Virus

© Reuters. © Reuters.

By Kim Khan – The International Monetary Fund said Monday it stands ready to help countries with the economic impact of Covid-19.

The IMF said it can help on several fronts.

Those include emergency financing through its Rapid Credit Facility and Rapid Financing Instrument, augmenting existing lending programs, grants for debt relief and new financing arrangements.

“Given the need to quickly redirect public resources, the IMF will remain closely engaged with the affected member countries and development partners, working as needed to reprioritize capacity development activities,” it said.

It added it is working closely with its development partners, the World Bank, World Health Organization and the Asian Development Bank.

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