Financial and business news from Bulgaria

World Bank and IMF: To ease the debt burden of the poorest countries

The World Bank and the International Monetary Fund (IMF) urged official lenders under bilateral agreements to immediately ease the obligations of the world's poorest countries, which suffer severe consequences of the coronavirus, Reuters reported.
In a joint statement, the institutions urged creditors under bilateral agreements to immediately freeze the debt repayment of the countries of the Association for International Development, which live in a quarter of the world's population and two-thirds of the population living in extreme poverty, transmits BTA.

This will support the urgent liquidity needs of the association countries to address the difficulties caused by the coronavirus pandemic and give time to assess the effects of the crisis and the financial needs of each country, the IMF and the World Bank said.

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