IMF approves aid for world's 28 poorest countries

The International Monetary Fund on Monday approved new emergency aid for 28 of the world’s poorest countries to help them alleviate their debt and better cope with the impact of coronavirus.

The announcement, which follows a similar measure passed in mid-April for 25 countries, is intended to help the countries cover their debt repayments to the IMF for the next six months and “free up scarce financial resources for vital emergency medical and other relief efforts” during the pandemic.