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IMF Executive Board Approves a Disbursement of US$11.6 Million for St. Vincent and the Grenadines to Address the Fallout from the Volcanic Eruption
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The IMF Executive Board approved the request by St. Vincent and the Grenadines for emergency financing assistance of about US$11.6 million under the Large Natural Disaster Window (LNDW) of the Rapid Credit Facility (RCF). The RCF will help address the urgent balance of payment needs associated with the explosive eruption of the La Soufrière volcano.
The ongoing eruption is hitting St. Vincent and the Grenadines hard, compounding the economic and social/humanitarian impact of the pandemic and by IMF staff’s estimates, may result in economic losses amounting to around 30 percent of GDP as infrastructure, housing and crops are damaged.
IMF Executive Board Approves a Disbursement of US$11 6 Million for St Vincent and Grenadines to Address Fallout from Volcanic
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