The Minister of Finance and Treasury, Hon. Harry Kuma has revealed that the International Monetary Fund (IMF) Board, on 13th April, 2020, has approved a SIG/CBSI joint request for a Debt Servicing relief for Solomon Islands under the IMF Catastrophe Containment and Relief Trust (CCRT).
According to Minister Kuma, the IMF approval is swift because it took only 5 days to receive a respond from the IMF after a joint SIG/CBSI request was forwarded to the IMF Managing Director on the 8th April, 2020.
The approval by the IMF Board means the IMF CCRT facility will cover all borrowings from the IMF through CBSI for 24 months period commencing on the 14 April 2020 to April 13 2022 or as much as is available from the facilities.
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