The Executive Board of the IMF approves 124 million dollars in debt relief to 24 eligible low-income countries, including Ethiopia, until January 10, 2022.
The move will enable the eligible countries to receive relief of their debt service falling due to the Fund through January 10, 2022.
This will be the fourth time when the Fund gives an approval for similar type of tranches, totaling approximately SDR 87.9 million (124 million dollars), following three prior tranches approved on April 13, 2020, October 2, 2020, and April 1, 2021.
This debt service relief helps free up scarce financial resources for vital health, social, and economic support to mitigate the impact of the COVID-19 pandemic, said the IMF in its statement.
Besides Ethiopia, Benin, Burkina Faso, Burundi, Central African Republic, Comoros and Djibouti are among the eligible countries for the latest tranche.
