IMF: EU's recovery fund must include substantial grants

 IMF: EU's recovery fund must include substantial grants
  • Clock-gray 11:23
  • calendar-gray 29 June 2020

A substantial part of the European Union’s package of measures to help the economy recover from the coronavirus pandemic must consist of grants rather than loans, the International Monetary Fund’s chief economist told Der Spiegel, APA reports citing Reuters.

“Otherwise it will not promote economic recovery,” Gita Gopinath was quoted as saying by the German magazine on Monday.

EU leaders agreed in April to build an emergency fund to help the 27-nation bloc rebound from the pandemic, but the final details have yet to be agreed.

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