IMF, World Bank Suspend Debt Payment

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The International Monetary Fund and World Bank on Wednesday have called for governments to put a hold on debt payments from the world’s poorest nations so they can battle the coronavirus pandemic.

The bodies in a joint statement said that: “The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets,” the Washington-based development lenders said.

The move is directed at countries that qualify for the most generous aid from the “IDA” fund aimed at the “two-thirds of the world’s population living in extreme poverty”, AFP reports.

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