Treasurer Ian Ling-Stuckey has welcomed the announcement by the IMF that it is extending assistance options for countries effected by the COVID-19 pandemic.
These new options will provide countries with funding issued in the IMF’s currency, the Special Drawing Rights, or SDR’s.
The IMF has also announced it is considering providing additional funds to its concessional lending facility, and potentially setting up another facility to support countries during these challenging 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 direct 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.”
