Photo Credit: Loop PNG / Treasurer Ian Ling-Stuckey with IMF officials in Washington DC during a trip to the US in 2019
Treasurer Ian Ling-Stuckey applauded the International Monetary Fund's declaration that it will expand aid options for nations affected by the COVID-19 epidemic.
These new alternatives will offer nations with money in the Special Drawing Rights, or SDRs, of the International Monetary Fund.
The IMF has also stated that it is considering adding to its concessional loan facility and maybe establishing a new facility to assist nations in these difficult economic times.
“The Marape Government fully supports the recent announcement by the IMF, and would want to encourage the other members of the IMF to continue discussions about positive suggestions like supplementation of the Poverty Reduction and Growth Trust (PRGT) and the proposed Resilience and Sustainability Trust,” Ling-Stuckey said.
“Our engagement with the IMF has yielded continued dividends, through the support that has come from bilateral partners to the support directly from the IMF in 2020.
“We hope we can continue this engagement on a long-term basis as we strengthen even further our relationships with the international community.”
Reference: Loop (8 August 2021). “Treasurer hails IMF announcement”.
