In order to fight COVID-19, the International Monetary Fund (IMF) approved 38-month arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for Kenya in an amount equivalent to USD2.34 billion.
- The fund will support the next phase of the authorities COVID-19 response and address the urgent need to reduce debt vulnerabilities.
- Approval of the ECF/EFF enables immediate disbursement of about US$307.5 million, usable for budget support.
- The three-year financing package will support the next phase of the authorities COVID-19 response and their plan to reduce debt vulnerabilities while safeguarding resources to protect vulnerable groups.
In April 2020, The global financial organisation International Monetary Fund (IMF) has approved a disbursement in the amount of US$ 274 million for Paraguay under the Rapid Financing Instrument (RFI).
These resources will help meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic, preserve resources for essential COVID-19-related health expenditure and social safety net spending and catalyze multilateral donor support.
The International Monetary Fund (IMF) is a global monetary organization, headquartered in Washington, the USA. IMF secure financial stability, assists in international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. IMF has around 190 member countries.