By Guy Ryde- The human dimensions of the COVID-19 pandemic reach far beyond the critical health response. All aspects of our future will be affected – economic, social and developmental. Our response must be urgent, coordinated and on a global scale, and should immediately deliver help to those most in need.
On Wednesday March 25, 2020, the World Bank Group (WBG) and International Monetary Fund (IMF) have issued the following joint statement to the G20 concerning debt relief for the poorest countries:
The international community is developing policy measures and actions to help the people most vulnerable to drought to take early action to avoid loss of life, and the heavy and growing losses of livelihoods and damage to property and ecosystems following droughts.
The Executive Board of the International Monetary Fund (IMF) approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for Somalia in the amount of SDR 292.4 million (about US$395.5 million or around 179 percent of quota).