IMF relief fund depleted as Ebola outbreak hits Democratic Republic of the Congo

A new Ebola outbreak has resulted in over 2,000 confirmed deaths in the Democratic Republic of the Congo. The United Nations Development Programme estimates the epidemic could push nearly one million people into poverty.

The crisis highlights a recurring flaw in the international financial system regarding health emergencies. While the International Monetary Fund (IMF) utilizes the Catastrophe Containment and Relief Trust (CCRT) to help poor nations redirect debt payments toward life-saving measures, the fund's resources were nearly exhausted by the fiscal strain of the COVID-19 pandemic. Consequently, the CCRT is currently running dry just as the new Ebola crisis intensifies.