IMF approves $411 mln in coronavirus aid for Ethiopia

The International Monetary Fund said it approved $411 million in emergency assistance for Ethiopia under its Rapid Financing Instrument program to help the east African country battle the coronavirus pandemic.

In a statement, the IMF said the board also approved Ethiopia's request for a suspension of debt service payments to the Fund, of about $12 million through Oct. 13. The suspension could be extended up to April 13, 2022, subject to the availability of resources under the IMF's Catastrophe Containment and Relief Trust for poor countries.