Cape Town – The International Monetary Fund has approved $38 million in emergency assistance for the Central African Republic under its Rapid Credit Facility , in order to address Covid-19.
CAR would also benefit from debt service relief under the IMF Catastrophic Containment and Relief Trust, it said. Despite this, the IMF said that the country had acted fast and, assisted by the World Health Organisation, had prepared a response plan to strengthen its national health system, and was implementing measures to contain the spread of the virus and mitigate its impact on the economy.
“As a result, CAR will receive relief from the CCRT on debt service falling due to the IMF in the next six months. This relief could be extended for up to two years, subject to the availability of resources under the CCRT,” the IMF said.
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