Thursday July 7, 2022
اردو
Dialogue Pakistan Dialogue Pakistan
Dialogue Pakistan Dialogue Pakistan
  • Citizen Journalism
  • Pakistan
  • World
  • Sports
  • Entertainment
  • Videos
    • Feature Videos
    • In House Videos
    • Mobile Footage
    • Documentaries
  • More
    • Features
    • Health
    • Sci-Tech
    • Business
    • In Pictures
    • Facebook
News

IMF to provide countries with emergency fund of $25b to combat coronavirus crisis

by Web Desk June 22, 2020

AA

 IMF to provide countries with emergency fund of $25b to combat coronavirus crisis

As the novel coronavirus pandemic continues to grip the world, the International Monetary Fund (IMF) has said it is expected to provide an emergency fund of around $25 billion for 70 countries.

Media sources said that spokesperson Gerry Rice said at a virtual press briefing that “We expect that number to be 70, so 70 countries supported by the IMF with emergency financing roughly about $25 billion.”

“This emergency financing is very fast-disbursing, countries receive the money within days, it does not carry traditional IMF conditionality,”

“It is money to be spent on paying for things like nurses’ and doctors’ salaries, and equipment, and medical equipment to deal with the crisis.”

Seven countries have received emergency funding totaling around $1.5 billion for the Asia and Pacific region, Rice said.

In sub-Saharan Africa, 28 countries have received nearly $ 10 billion in emergency funding, Rice said, noting that the figure is much higher than the region’s average annual lending of $1 billion to the IMF.

More than 100 countries have sought emergency financing from the IMF in the midst of the pandemic, and earlier this year the IMF said it had doubled access to its emergency facilities to meet expected demand.

IMF chief economist Gita Gopinath said the pandemic-triggered financial crisis is more global and playing out differently than previous crises, with services hit harder than building in both advanced and emerging market economies, and low overall inflation.

He added that in many countries there were signs of early recovery that were reopening their economies, but new waves of coronavirus infections and re-imposed lockdown measures still feigned risks.

Gopinath said the longer-term impact on tourism-dependent economies is a particular concern and governments should pursue policies to redeploy workers from shrinking sectors to those with stronger prospects.

Read More: IMF predicts worse contraction to hit global economy

Post Views: 101

Share This:

Tags: coronavirus IMF
Previous post
Next post




Polls

Should the release of foreign movies be delayed to help support Pakistani cinema?

View Results

Loading ... Loading ...
Most Recent
News

Monsoon rains kill 77 in Pakistan

July 6, 2022
News

Pakistan climbing season reaches new heights

July 6, 2022
World

UK PM Johnson on the brink over

July 6, 2022
Entertainment

Hira Mani enjoys rain in a saree,

July 6, 2022
July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    
Related Stories for you

Pakistan, IMF to strike deal after budget approval: sources

June 27, 2022

The talks between the Pakistani authorities and International Monetary Fund (IMF) staff will now resume after the approval of the

Karachi’s Covid-19 positivity ratio exceeds 21%

June 23, 2022

Karachi is witnessing an alarming surge in coronavirus cases by the Omicron variants BA4 and BA5 with positivity rate reaching

‘Board Agreement’ reached between Pakistan and IMF

June 22, 2022

An agreement was reached between Pakistan and the International Monetary Fund (IMF) after Pakistani officials agreed to an additional tax

Dialogue Pakistan

Citizen Journalism is the collection, dissemination and analysis of news by the people for the people especially by the means of internet. Dialogue Pakistan is the country’s first citizen journalism portal to provide Pakistanis an opportunity to get themselves heard aiming to encourage citizen journalism inculcated with ethical values.

Quick Links

اردو
About Us
Advertise
Careers
Contact

Category

Citizen Journalism
Pakistan
World
Sports
Entertainment
Features

Download our APP

Social Platforms

  • Facebook
  • Twitter
  • LinkedIn
  • Instagram
  • Youtube
Copyright 2022.Dialogue Pakistan. All Rights Reserved.