Switzerland signs IMF deal to support lower-income countries

Economics Minister Guy Parmelin has signed a partnership agreement that will see Switzerland contribute around CHF10 million ($11 million) to the Global Partnership in Public Finance (GPFP) initiative of the International Monetary Fund. Launched in 2023, the GPFP is a cornerstone of the IMF's efforts to help developing and emerging countries in particular build strong financial policies and create collective resilience. The Swiss contribution to the GPFP will enable the Fund to help its emerging and low-income member countries achieve their economic and development goals in a challenging fiscal environment, said Gita Gopinath, first deputy managing director of the IMF, at the signing ceremony in Washington. Switzerland is one of the five most important donor countries for IMF capacity-building. + Is Switzerland doing enough as debts in poorer countries soar? Parmelin took part in the World Bank's plenary meeting in Washington on Friday. He reaffirmed Switzerland's role in promoting ...