⁍ This is the second emergency disbursement since the onset of the pandemic.
⁍ It will help finance the country’s urgent balance of payments and fiscal needs.
– The International Monetary Fund has approved $171.9 million in emergency funding for Madagascar in the face of the island nation’s severe economic crisis, Reuters reports. The funding is part of a $337.9 million package approved by the IMF earlier this month for the island nation, which has been hit hard by the H7N9 bird flu virus. Madagascar’s president says the country’s economy has been devastated by the virus, which has killed at least 370 people and sickened thousands more.
Source: https://www.reuters.com/article/health-coronavirus-madagascar-economy/imf-approves-1719-mln-to-madagascar-to-address-covid-19-pandemic-statement-idUSL5N2F19PL