https://sputnikglobe.com/20230114/reports-imf-chief-to-visit-zambia-rwanda-by-end-of-january-to-discuss-loans-1106315061.html
Reports: IMF Chief to Visit Zambia, Rwanda By End of January to Discuss Loans
Reports: IMF Chief to Visit Zambia, Rwanda By End of January to Discuss Loans
Sputnik International
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva will travel to Rwanda in January after her visit to to Zambia, media say.
2023-01-14T12:47+0000
2023-01-14T12:47+0000
2023-01-14T12:47+0000
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The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, will travel to Rwanda in January after her visit to Zambia, media say. According to reports, Georgieva previously announced her Zambia trip, but her plans to visit Rwanda became known based on undisclosed sources.Rwanda is the first state in Africa to receive funding under the IMF's 2022 Resilience and Sustainability Trust, aimed at helping "low-income and vulnerable middle-income countries build resilience to balance of payments shocks and ensure a sustainable recovery," according to the fund. In October, the Central African nation reached a staff-level agreement with the IMF on a $310 million financing package provided over the course of 36 months.Apart from that, according to earlier reports, the IMF also announced that official bilateral creditors of Chad had agreed make up for any deficit in commitments from the country's private lenders. China, France, Saudi Arabia, and India are planning to sign a memorandum of understanding on a debt agreement in order to cut Chad's debt servicing costs in case the African state cannot manage them.In November, Chad reached another agreement with Switzerland-based mining giant Glencore, China, and other creditors on restructuring the Central African country's external debt, reaching $2.9 billion. The agreement was the first to be achieved under the G20 framework intended to support poorer countries in their efforts to recover from the impact of the COVID-19 pandemic.The agreement helped Chad receive further funding from international institutions, but did not involve a reduction of external debt.In November, World Bank President David Malpass said that about 60% of developing countries were on the verge of debt crisis.
https://sputnikglobe.com/20221213/china-rejects-africa-debt-trap-allegations-calls-for-dropping-geopolitical-games-on-continent-1105412026.html
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Reports: IMF Chief to Visit Zambia, Rwanda By End of January to Discuss Loans
In December, the International Monetary Fund approved a 46-month, $3 billion arrangement under the Extended Fund Facility (EFF) for Egypt. To meet the fund's requirements, the North African country lifted import conditions and announced several privatization measures.
The managing director of the International Monetary Fund (
IMF), Kristalina Georgieva, will travel to Rwanda in January after her visit to Zambia, media say. According to reports, Georgieva previously announced her Zambia trip, but her plans to visit Rwanda became known based on undisclosed sources.
Rwanda is the first state in Africa to receive funding under the IMF's 2022 Resilience and Sustainability Trust, aimed at helping "low-income and vulnerable middle-income countries build resilience to balance of payments shocks and ensure a sustainable recovery," according to the fund. In October, the Central African nation reached a staff-level agreement with the IMF on a $310 million financing package provided over the course of 36 months.
Apart from that, according to earlier reports, the IMF also announced that official bilateral creditors of Chad had agreed make up for any deficit in commitments from the country's private lenders. China, France, Saudi Arabia, and India are planning to sign a memorandum of understanding on a debt agreement in order to cut Chad's debt servicing costs in case the African state cannot manage them.
13 December 2022, 10:17 GMT
In November, Chad reached another agreement with Switzerland-based mining giant Glencore, China, and other creditors on restructuring the Central African country's external debt, reaching $2.9 billion. The agreement was the first to be achieved under the G20 framework intended to support poorer countries in their efforts to recover from the impact of the COVID-19 pandemic.
The agreement helped Chad receive further funding from international institutions, but did not involve a reduction of external debt.
In November, World Bank President David Malpass
said that about 60% of developing countries were on the verge of debt crisis.
