International Monetary Fund (IMF)

International Monetary Fund (IMF)

Latest news, features and opinion on the International Monetary Fund (IMF). The 189-nation IMF promotes global monetary cooperation, facilities trade, encourages sustainable growth and makes funds ava

ilable to countries experiencing fiscal difficulties.

Covid-19 forces Africa to seek mercy from its biggest creditor: China
African states expect a devastating economic impact from the Covid-19 pandemic and are appealing for relief from repayments on billions of dollars in debt. Most of those appeals involve China, the biggest lender to the continent, but it is unclear how Beijing will respond. Angola, Zambia, Sudan and the Republic of Congo (Brazzaville) are among those seeking relief, arguing they need to reallocate funds to health care and equipping hospitals to fight the coronavirus, which has infected almost 3.7 million people worldwide. Africa was largely spared in the early days of the outbreak, but cases as of Tuesday had jumped to 47,581, with 1,862 dead. London-based Jubilee Debt Campaign, which is pus