IMF Credit Tool to Bolster COVID-19 Response

Washington DC - The International Monetary Fund's new Short-term Liquidity Line (SLL) provides a renewable line of credit to countries to confront the impacts of the coronavirus.

Eric LeCompte the Executive Director of the religious development organization Jubilee USA Network, releases the following statement on the IMF's new Short-term Liquidity Line:

"The IMF's Short-term Liquidity Line is helpful as we confront the coronavirus.

"This tool frees up millions of dollars for countries to fight the health and economic impacts of the coronavirus.

"Many countries lack the fiscal and monetary space to increase liquidity and this answers some of that problem.

"In the absence of broader actions on debt relief and allowing countries to access additional resources, the IMF is doing what it can do to make more resources available.

"We really need to be able to access the special drawing rights or SDRs and more aid for countries to deal with the enormity of this growing coronavirus financial crisis."

Read the IMF Short-term Liquidity Line Announcement here

Read Jubilee USA's March 23rd letter to IMF on a health and economic COVID-19 plan here

Read Jubilee USA's April 1st letter to the IMF on reserve gold funds here

Read about the IMF World Economic Report here

Read about the Major Religious Institutions Letter to the President, IMF and G20 to Cancel Debts and Use Reserves to Protect Poor here