International Monetary Fund Managing Director Kristalina Georgieva announced a US$50 billion aid package to help fight the coronavirus, now known as COVID-19.
Georgieva says that the money is available “immediately” and is for low-income and emerging market countries.
She says most of the money will be interest-free, and countries do not need to have a preexisting program with the IMF to participate.
She adds that they are reviewing country by country what their financial needs are, and engaging with these countries to make sure they are aware of this resource and so that they can immediately respond to them.
[Source: CNBC]
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