Relief For Ebola Countries IMF Grants $100 million Debt

The IMF said it will provide 100 million dollars in grants for debt relief to the three West African nations hardest hit by the Ebola epidemic.

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The International Monetary Fund(IMF) has provided grants totalling $100 million to be used as debt relief to the three countries worst hit by the Ebola epidemic.

Guinea, Liberia, and Sierra Leone will use the funds to cover the cost of servicing their debt.

These grants come in addition to $130 million in emergency assistance the IMF disbursed in September under an existing loan program, as well as about $160 million in additional loans to the three countries proposed for IMF Executive Board approval later this month.

The $100 million grant will allow each country to service their IMF debts over the next two years.

The debt relief initiative and additional lending to the Ebola-hit countries were outlined by IMF Managing Director, Christine Lagarde to the G-20 heads of state in Brisbane, Australia.

This is the first time that the Fund has provided grants to support a country in containing an evolving natural disaster with international spill over effects.

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