Source: International Monetary Fund (IMF) |

Coronavirus - Gabon: International Monetary Fund (IMF) Executive Board Approves a US$152.61 Million Disbursement Under the Rapid Financing Instrument to Gabon to Address the COVID-19 Pandemic

Weaker external demand and a deepening of the impact of the COVID-19 pandemic have further deteriorated growth prospects and worsened external and fiscal positions

This is the second disbursement under the Rapid Financing Instrument (RFI) to help Gabon address urgent balance of payment needs stemming from the COVID-19 pandemic; weaker external demand and a deepening of the impact of the COVID-19 pandemic have further deteriorated growth prospects and worsened external and fiscal positions; the additional resources…

Source: International Monetary Fund (IMF) |

Coronavirus - Madagascar: International Monetary Fund (IMF) Executive Board approves an additional US$171.9 million disbursement under the Rapid Credit Facility (RCF) to Madagascar to address the COVID-19 Pandemic

Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to the Republic of Madagascar to US$337.9 million; Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue; the additional resources under the…

Source: International Monetary Fund (IMF) |

Coronavirus - Lesotho: IMF Executive Board Approves US$49.1 million in Emergency Support to Lesotho to Address the Covid-19 Pandemic

The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming from the COVID-19 pandemic

The economic consequences of the COVID-19 pandemic in Lesotho have been severe, with a weak global and regional environment reducing exports and remittances; The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming…

Source: International Monetary Fund (IMF) |

Coronavirus - Eswatini: IMF Executive Board Approves US$110.4 Million in Emergency Support to The Kingdom of Eswatini to Address The COVID-19 Pandemic

The immediate priority is to support public health, vulnerable groups and businesses

The COVID-19 pandemic has magnified Eswatini’s existing economic and social challenges, leading to a sharp decline in growth and large financing needs; The IMF approved US$110.4 million in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19…

Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: IMF Executive Board Completes the First Review of the Extended Credit Facility Arrangement for the Democratic Republic of São Tomé and Príncipe

Stepping up structural reforms, especially for the energy sector and revenue mobilization is essential for fiscal sustainability

Continued efforts to mitigate the heavy toll of the COVID-19 pandemic on São Tomé and Príncipe’s economy remain critical; Program implementation was off to a good start in late 2019, and it will be critical to resume fiscal consolidation once the crisis is over; Stepping up structural reforms, especially for…

Source: International Monetary Fund (IMF) |

Coronavirus - South Africa: IMF Executive Board Approves US$4.3 Billion in Emergency Support to South Africa to Address the COVID-19 Pandemic

The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the challenging health situation and severe economic impact of the COVID-19 shock

The COVID-19 outbreak is leading to a sharp economic contraction and significant financing needs in South Africa; The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the challenging health situation and severe economic impact of the COVID-19 shock;…

Source: International Monetary Fund (IMF) |

Coronavirus - Chad: International Monetary Fund (IMF) Executive Board approves an additional US$69.49 Million disbursement for Chad and notes Cancellation of its Extended Credit Facility (ECF) Arrangement

Disbursement will provide timely support to fill an urgent financing need to contain the economic impact of the pandemic and provide essential COVID-19-related health expenditure

This is the second disbursement under the Rapid Credit Facility (RCF), to address urgent balance of payment needs stemming from the COVID-19 pandemic; the Chadian economy continues to be severely impacted by the twin Covid-19 pandemic and terms of trade shocks, which led to a weaker than previously envisaged economic…

Source: International Monetary Fund (IMF) |

Coronavirus - Burundi: International Monetary Fund (IMF) Executive Board Approves US$7.6 Million Debt Relief to the Republic of Burundi Under the Catastrophe Containment and Relief Trust

The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment

The IMF Executive Board approved debt relief under the Catastrophe Containment and Relief Trust to provide US$ 7.63 million (SDR 5.48 million) over the next 3 months, and potentially up to US$ 24.97 million (SDR 17.96 million) over the next 21 months; IMF debt relief will help free up resources…

Source: International Monetary Fund (IMF) |

Coronavirus - Senegal: International Monetary Fund (IMF) Executive Board Completes First Review Under the Policy Coordination Instrument for Senegal

The COVID-19 pandemic is taking a heavy toll on Senegal’s economy

The COVID-19 pandemic is taking a heavy toll on the economy with growth projected at 1.1 percent in 2020 compared to 5.3 percent in 2019; The authorities have taken significant actions to contain the pandemic and mitigate its economic fallout, supported by additional financing from Senegal's development partners and participation…

Source: International Monetary Fund (IMF) |

Coronavirus - Zambia: IMF Staff Completes Virtual Mission to Zambia

Discussions focused on the economic policies needed to respond to the fallout from the COVID-19 pandemic. Discussions will continue on the fiscal stance and policies in order to move forward with the request for Fund support

Discussions centered on the Government of Zambia’s request for emergency support under the Rapid Credit Facility to support the government’s efforts to address the social and macroeconomic impact of the COVID-19 pandemic: The COVID-19 shock has significantly impacted economic prospects—growth this year will be negative, poverty has likely increased, and…