IMF pardons debt servicing of 25 countries, including three with Portuguese as an official language

Guinea-Bissau, Mozambique and São Tomé and Príncipe are the three of Portuguese-speaking African countries included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing, according to a statement released on Monday in Washington.

The remaining countries to benefit are Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Gambia, Guinea Conakry, Haiti, Liberia, Madagascar, Malawi, Mali, Nepal, Niger, Rwanda, Sierra Leone, Solomon Islands, Tajikistan, Togo and Yemen.

The director-general of the International Monetary Fund, Kristalina Georgieva, said in a statement that the measure covers debt installments to the IMF for six months and “affect a larger part of the limited resources (of these countries),” to the efforts related to fighting the Covid-19 pandemic.

The pardoning of debt servicing is granted through the Catastrophe Containment and Relief Trust, which currently has US$500 million, with an additional US$185 million pledged by the United Kingdom and US$100 million pledged by Japan. (macauhub)