Debt Relief For Ebola-Impacted Countries

IMF Debt Relief Trust Fund to Aid Poor Countries During Health Crises, Natural Disasters

The International Monetary Fund (IMF) is providing $330 million of financing to aid Ebola-impacted countries. The plan includes $100 million of debt relief and grant-like aid for Liberia, Sierra Leone and Guinea. The Fund is also calling on governments to cancel an additional $70 million in debt. The new plan expands a debt relief facility previously used to cancel debt after Haiti's 2010 earthquake. The new expanded facility, the Catastrophe Containment and Relief Trust (CCR), is now a permanent debt relief facility for the world's poorest countries when they experience shocks such as epidemics or natural disasters.

Eric LeCompte, Executive Director of the religious anti-poverty organization Jubilee USA Network releases the following statement:

"This aid is so vital for the countries affected by Ebola. Now we have a permanent debt relief vehicle for when the poorest countries face certain crises. Essentially, a global social safety net is now in place to protect the least developed countries when they experience disasters.

"This new fund is an important, permanent tool in the fight against poverty. It means resources for countries that need them most at the time they need them most.

"Tonight I'm toasting the IMF and the White House. Unfortunately the World Bank has remained silent in the face of this crisis. I pray they follow the IMF's lead."

from here


Patronising? PR stunt? Genuine attempt to ease problems? Better late than never or too little too late? One wonders if and when the IMF or the Ex. Dir. of the the 'anti-poverty' Jubilee USA Network will follow up on exactly where these peanuts end up - look again at the figures. It's like throwing confetti at a wedding.
Now, please, can't we get down to eliminating the root cause of the world's inequalities? Wouldn't that be better for us all?