IMF Makes Available $50 Billion to Help Address Coronavirus

• The IMF is making available about $50 billion through its rapid-disbursing emergency financing facilities or low income and emerging market countries that could potentially seek support. Of this, $10 billion is available at zero interest for the poorest members through the Rapid Credit Facility.
• There is also the Catastrophe Containment and Relief Trust – the CCRT – which provides eligible countries with up-front grants for relief on IMF debt service falling due.
• The CCRT proved to be effective during the 2014 Ebola outbreak, but is now underfunded with just over $200 million available against possible needs of over $1 billion. Member countries were called on to ensure that this facility is fully re-charged and ready for the current crisis.

(Source: IMF)