Afghanistan-International-Monetar-Fund

Afghanistan gets loan approval of US$220 Million from IMF Executive Board to battle Covid-19

Afghanistan gets loan approval of US$220 Million from IMF Executive Board to battle Covid-19

On 29 April, Afghanistan gets the approval of $220 million to battle the coronavirus pandemic as a crisis aid from the International Monetary Fund. The funds from the IMF will help meet the pressing financial shortages as the authorities support the spending on critically ill and ease the hard-hit households in the society.

The IMF Executive Board affirmed Afghanistan’s solicitation for aiding to enable its economy this year, “prompting an ascent in joblessness and poverty.” The IMF statement added that the COVID-19 has terribly struck Afghanistan’s economy. Their trade and commerce have been upset, and their household activity has narrowed down sharply amid the global pandemic.

The dispensing will assist in meeting the urgent monetary and parity of payment requirements arising from the virus pandemic, create donor support, and build up confidence, the IMF stated.

The IMF expressed that the Afghanistan government will surely commit to exercise the full transparency and adequately manage the pandemic-related disburses and conduct its audit as well.

We stand prepared to support Afghanistan in providing policy advice and further support if necessary as it continues to fights the coronavirus crisis, stated the IMF.Article Credit:Business Today/ India Today/ IMF.

Article Credit:Business Today/ India Today/ IMF

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