Nigeria omitted from IMF’s debt relief list

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IMF's debt relief list

The International Monetary Fund’s Executive Board has omitted Nigeria from list of 28 countries drafted in IMF’s debt relief list

The Catastrophe Containment and Relief Trust Board has approved the third tranche of debt service relief grants for 28 member countries (CCRT).

The approval came after two previous tranches, which were accepted on April 13, 2020 and October 2, 2020, respectively.

The IMF said in a report released yesterday that the approval would enable grants from the CCRT to be disbursed for payment of all qualified debt service due to the IMF from its poorest and most vulnerable members from April 14, 2021 to October 15, 2021, totaling SDR 168 ($238) million.

Afghanistan, Benin, Burkina Faso, Burundi, and Centra were among the recipients of the previous CCRT tranche.

Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, Sierra Leone, Solomon Islands, Tajikistan, Togo, and Yemen are among the others.

This tranche of IMF’s debt relief list grants will continue to help free up scarce financial resources for critical emergency health, social, and economic support to mitigate the impact of the COVID-19 pandemic.

Subject to the availability of sufficient resources in the CCRT, debt service relief could be provided for the remaining period from October 16, 2021 to April 13, 2022, amounting to a total of about SDR 680 ($964) million.

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