IMF board approves lending reforms to better support low-income countries By Reuters – Investing.com

IMF board approves lending reforms to better support low-income countries By Reuters – Investing.com

By Andrea Shalal

WASHINGTON (Reuters) - The International Monetary Fund on Thursday said it would revamp its concessional lending programs to better support low-income countries during the COVID-19 pandemic and recovery, and raised the prospect of limited sales of IMF gold to boost its lending capability.

The IMF said its executive board last week backed reforms that include raising the access limits for concessional financing for low-income countries by 45%; eliminating access limits for the poorest countries with eligible programs; and maintaing zero-percent interest rates on such loans.