IMF raises caps on loans to poorer countries

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Photo: Flickr/freeimage4life

The International Monetary Fund announced on July 22 that it was raising or eliminating limits on loans to low-income countries, and allocating new resources to its Poverty Reduction and Growth Trust (PRGT).

The reforms, approved by the IMF executive board on July 14, will support the IMF’s longer-term pandemic response. Much of the fund’s initial help during Covid-19 came in the form of short-term credit. In the future, the IMF will provide most pandemic recovery funding “through multi-year

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