IMF’s Georgieva wants to triple concessional financing for poor countries

IMF’s Georgieva wants to triple concessional financing for poor countries

WASHINGTON (Reuters) - The International Monetary Fund is looking to triple its concessional financing for the poorest countries to over $18 billion to help them respond to the novel coronavirus pandemic, Managing Director Kristalina Georgieva said on Wednesday.. Georgieva issued a statement to a G20 finance ministers and central bank governors meeting, saying the Fund was "urgently seeking $18 billion in new loan resources for the Poverty Reduction and Growth Trust, and would also likely need at least $1.8 billion in subsidy resources.". Georgieva underscored the unprecedented nature of the crisis, noting that 102 of the IMF's 189 member countries had expressed interest in or formally requested assistance from the Fund to battle the disease..