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SDRs and debt holidays still just a band-aid for debt-hobbled countries - Adaderana Biz English

SDRs and debt holidays still just a band-aid for debt-hobbled countries April, 9, 2021 LONDON (Reuters) -Debt experts, charity groups and investors welcomed news on Wednesday that the world’s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution. A new $650 billion allocation of the IMF’s quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion. The $20 billion share of the SDR increase alone is more than all the emergency money the IMF provided in Africa here last year and in relative terms, those under the most serious stress will receive the biggest benefit.

SDRs and debt holidays still just a band-aid for debt-hobbled countries

5 Min Read LONDON (Reuters) -Debt experts, charity groups and investors welcomed news on Wednesday that the world’s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution. Pedestrians walk in Buenos Aires financial district, Argentina September 24, 2020. REUTERS/Agustin Marcarian A new $650 billion allocation of the IMF’s quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion. The $20 billion share of the SDR increase alone is more than all the emergency money the IMF provided in Africa here last year and in relative terms, those under the most serious stress will receive the biggest benefit.

RPT-ANALYSIS-SDRs and debt holidays still just a band-aid for debt-hobbled countries

RPT-ANALYSIS-SDRs and debt holidays still just a band-aid for debt-hobbled countries Reuters 3 hrs ago Popular Searches By Marc Jones LONDON, April 7 (Reuters) - Debt experts, charity groups and investors welcomed news on Wednesday that the world s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution. A new $650 billion allocation of the IMF s quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion. The $20 billion share of the SDR increase alone is more than all the emergency money the IMF provided in Africa https://www.imf.org/en/Topics/imf-and-covid19/COVID-Lending-Tracker last year and in relative terms, those under the most serious stress will receive the biggest benefit.

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