Poor countries need up to 500 billion in financing by 2026-IMF

2022.12.08 12:40

Poor countries need up to 500 billion in financing by 2026-IMF

Budrigannews.com – The International Monetary Fund said on Thursday that low-income countries will need nearly $500 billion in external financing between 2022 and 2026. This is an increase of about $57 billion from a year ago, largely due to spillovers from Russia’s war in Ukraine.

In a new policy paper, the International Monetary Fund (IMF) stated that the conflict in Ukraine, which has led to significant increases in global prices for food, energy, and fertilizer, will impede the COVID-19 pandemic recovery of low-income nations and further delay income per capita convergence with more advanced economies.

Poor countries need up to 500 billion in financing by 2026-IMF