The US approved a $1.2 trillion funding bill, making it the largest supporter of the IMF's PRGT, providing zero-interest loans to low-income countries.

The US government has approved a $1.2 trillion funding bill, enabling the US to lend up to $21 billion to the International Monetary Fund's (IMF) Poverty Reduction and Growth Trust (PRGT). This makes the US the largest supporter of the PRGT, which provides zero-interest loans to low-income countries for economic stabilization, growth, and debt sustainability. Since the start of the pandemic, the IMF has supported over 50 low-income countries with $30 billion in interest-free loans through the PRGT, with demand expected to reach nearly $40 billion this year.

March 23, 2024
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