IMF calls for ‘another Gleneagles moment’ on debt relief and aid

Package similar to 2005 deal needed, as struggling African countries suffer severe funding squeeze, says official

Western countries need to put together a debt relief and aid package to match that of the landmark Gleneagles summit deal in 2005 in order to counter a severe funding squeeze affecting struggling African countries, the International Monetary Fund has said.

Abebe Selassie, the director of the IMF’s African department, said without a scaling up of financial support some of the world’s poorest countries would have no chance of meeting the 2030 UN goals for poverty reduction.