Close Menu

    Subscribe to Updates

    Get the latest headlines from PapaLinc about news & entertainment.

    What's Hot

    Cedi appreciation not a ‘nine-day wonder’

    Lady receives her dream sewing machine as a birthday gift from her mum (WATCH)

    Who is Robert F. Prevost? The newly elected Pope Leo XIV set to preside over the Catholic Church’s new era

    Facebook X (Twitter) Instagram
    • Lifestyle
    • Africa News
    • International
    Facebook X (Twitter) Instagram YouTube WhatsApp
    PapaLincPapaLinc
    • News
      • Africa News
      • International
    • Entertainment
      • Lifestyle
      • Movies
      • Music
    • Politics
    • Sports
    Subscribe
    PapaLincPapaLinc
    You are at:Home»News»IMF approves US$8billion for poor nations to combat poverty, spur development
    News

    IMF approves US$8billion for poor nations to combat poverty, spur development

    Papa LincBy Papa LincOctober 17, 2024No Comments2 Mins Read2 Views
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    IMF approves USbillion for poor nations to combat poverty, spur development
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email


    IMF Managing Director, Kristalina Georgieva IMF Managing Director, Kristalina Georgieva

    The Govt Board of the International Monetary Fund (IMF) has accomplished the Evaluate of Poverty Discount and Progress Belief (PRGT) Amenities and Financing, the IMF’s automobile for offering concessional financing to low-income member nations.

    In a press release on October 15, 2024, Kristalina Georgieva, Managing Director of the Fund introduced: “Our membership in the present day has adopted a complete reform and financing bundle for the Poverty Discount and Progress Belief (PRGT) to bolster the IMF’s help to low-income nations.”

    “The bundle features a framework to deploy IMF web earnings and/or reserves to generate about US$8 billion in extra subsidy assets for the PRGT over the subsequent 5 years,” she famous.

    She stated: “Mixed with different reform measures and final yr’s profitable bilateral fundraising, this could improve the PRGT’s long-term annual lending envelope to about US$3.6 billion, greater than twice the pre-pandemic stage, and assist catalyse vital extra flows from private and non-private sources.”

    This settlement, the IMF MD famous, “comes at a important time as low-income nations have suffered a collection of unprecedented shocks and face substantial financing wants.”

    “With exceptionally excessive demand for PRGT financing, the accredited bundle will generate the concessional assets needed to make sure that the Fund can proceed supporting low-income nations to implement sound insurance policies and construct robust establishments,” defined Ms Goeigieva.

    These reforms, she highlighted, “will assist tailor IMF help to country-specific wants, recognising the rising financial heterogeneity of low-income nations.”

    To make sure that scarce concessional assets are focused to these most in want, she talked about that, “A brand new rate of interest mechanism will preserve interest-free lending for the poorest nations whereas making certain that lending phrases for others have a ample diploma of concessionally.”

    Entry insurance policies, she added, “Will enable for flexibility in calibrating Fund help, and safeguards can be strengthened and streamlined.”

    “Our world membership has demonstrated as soon as once more its shared dedication to help our low-income members in difficult financial occasions,” she stated.

    Watch the most recent version of BizHeadlines under:

    Ghana’s main digital information platform, GhanaWeb, along with the Korle-Bu Instructing Hospital, is embarking on an aggressive marketing campaign which is geared in direction of making certain that parliament passes complete laws to information organ harvesting, organ donation, and organ transplantation within the nation.

    Click here to follow the GhanaWeb Business WhatsApp channel



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email
    Previous Article‘Males cheat with out motive, whereas ladies accomplish that for legitimate causes’
    Next Article “I am Fed Up, I Cannot Take It Anymore” – Bobrisky Laments
    Papa Linc

    Related Posts

    Cedi appreciation not a ‘nine-day wonder’

    May 8, 2025

    Lady receives her dream sewing machine as a birthday gift from her mum (WATCH)

    May 8, 2025

    Who is Robert F. Prevost? The newly elected Pope Leo XIV set to preside over the Catholic Church’s new era

    May 8, 2025
    Ads
    Top Posts

    A Plus questions the hypocrisy of NPP members who remained silent about corruption for 8 years, only to speak out after losing power.

    December 26, 202443 Views

    Here’s why Ghana Airways collapsed in 2004

    November 5, 202439 Views

    Urgent search continues for Paul Barning after he was attacked by shark during fishing competition

    February 23, 202537 Views

    Kenyan Senator breaks silence on her alleged intimate affairs, secret child with John Agyekum Kufuor

    December 21, 202432 Views
    Don't Miss
    News May 8, 2025

    Cedi appreciation not a ‘nine-day wonder’

    Dr Cassiel Ato Forson after the meeting with leadership of the Food and Beverage Association…

    Lady receives her dream sewing machine as a birthday gift from her mum (WATCH)

    Who is Robert F. Prevost? The newly elected Pope Leo XIV set to preside over the Catholic Church’s new era

    U-20 AFCON Joseph Opoku’s late goal sends Black Satellites to the last eight

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • WhatsApp

    Subscribe to Updates

    Get the latest headlines from PapaLinc about news & entertainment.

    Ads
    About Us
    About Us

    Your authentic source for news and entertainment.
    We're accepting new partnerships right now.

    Email Us: info@papalinc.com
    For Ads on our website and social handles.
    Email Us: ads@papalinc.com
    Contact: +1-718-924-6727

    Facebook X (Twitter) Pinterest YouTube WhatsApp
    Our Picks

    Cedi appreciation not a ‘nine-day wonder’

    Lady receives her dream sewing machine as a birthday gift from her mum (WATCH)

    Who is Robert F. Prevost? The newly elected Pope Leo XIV set to preside over the Catholic Church’s new era

    Most Popular

    Aside from Dodowa, title one hospital began and accomplished below Mahama

    October 17, 20240 Views

    April 3, 2023 – Russia-Ukraine information

    October 17, 20240 Views

    Ghana’s crude oil manufacturing dips

    October 17, 20240 Views
    © 2025 PapaLinc. Designed by LiveTechOn LLC.
    • News
      • Africa News
      • International
    • Entertainment
      • Lifestyle
      • Movies
      • Music
    • Politics
    • Sports

    Type above and press Enter to search. Press Esc to cancel.

    Ad Blocker Enabled!
    Ad Blocker Enabled!
    Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.