IMF grants US$7m to Burundi to help with the COVID-19 pandemic

BURUNDI – The Executive Board of the International Monetary Fund (IMF) has approved a grant of US$ 7.63 million under the IMF’s Catastrophe Containment and Relief Trust (CCRT) over the next 3 months to cover Burundi’s debt service which is falling due to the pandemic. Additional relief covering the next 21 months will be granted subject to the availability of resources in the CCRT, potentially bringing total relief on debt service to the equivalent of US$24.97 million. The debt service relief will help free up resources for public sector health…

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Coronavirus disrupts world trade, wipes US$50bn off global exports- UNCTAD

GLOBAL – The slowdown of manufacturing in China due to the Coronavirus (COVID19) outbreak is disrupting world trade and could result in a $50 billion decrease in exports across global value chains, according to new UNCTAD estimates. UNCTAD (the UN Conference on Trade and Development) attributes this decline partly to the virus containment measures in China – where the outbreak emerged in late December. The UN body says that these measures have already caused a “substantial decline in output” and as a result adversely affecting global trade. Those worst hit…

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