World Bank, IMF Ready to Aid Crisis-Hit African Nations

African developing nations may access bailout packages from the International Monetary Fund and World Bank,

reported. The assistance will address balance of payment needs, emergency liquidity and trade finance facilities. "Our institutions will make full use of existing capital resources, but we emphasised this alone will not be sufficient given that the scale of the challenges. We urge shareholders to support those of us who will need to raise additional resources, including through early general capital increases," officials of the IMF and World Bank's Multilateral Development Banks division said.

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