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Catastrophe Containment And Relief Trust
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Book Synopsis Catastrophe Containment and Relief Trust by : International Monetary Fund
Download or read book Catastrophe Containment and Relief Trust written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-04-02 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: In direct response to the COVID-19 crisis the International Monetary Fund (IMF) Executive Board has adopted some immediate enhancements to its Catastrophe Containment and Relief Trust (CCRT) to enable the Fund to provide debt service relief for its poorest and most vulnerable members. The CCRT enables the IMF to deliver grants for debt relief benefiting eligible low-income countries in the wake of catastrophic natural disasters and major, fast-spreading public health emergencies.
Book Synopsis Catastrophe Containment and Relief Trust—Fifth Tranche of Debt Service Relief in The Context of The COVID-19 Pandemic by : International Monetary
Download or read book Catastrophe Containment and Relief Trust—Fifth Tranche of Debt Service Relief in The Context of The COVID-19 Pandemic written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-20 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Executive Board approved a two-step approach consisting of (i) an immediate approval of the disbursement of a fourth tranche of debt service relief to all qualified beneficiary countries covering the period from October 16, 2021 through January 10, 2022, and (ii) consideration by January 2022 of a final tranche of CCRT debt service relief through April 13, 2022 based on a brief Board paper with an assessment of resources at that time. In accordance with the two-step approach, this paper provides a brief overview on recent developments in CCRT-eligible countries followed by an update on the CCRT’s funding status and resources assessment.
Book Synopsis Catastrophe Containment and Relief Trust—Third Tranche Of Debt Service Relief In The Context Of The COVID-19 Pandemic by : International Monetary
Download or read book Catastrophe Containment and Relief Trust—Third Tranche Of Debt Service Relief In The Context Of The COVID-19 Pandemic written by International Monetary and published by International Monetary Fund. This book was released on 2021-04-05 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes that the Executive Board approve the disbursement of a third tranche of CCRT debt service relief to 28 of the 29 CCRT-eligible members, covering the period April 14, 2021 through October 15, 2021, given staff’s assessment that sufficient financial resources are available.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1513594818 Total Pages :133 pages Book Rating :4.5/5 (135 download)
Book Synopsis Catastrophe Containment and Relief Trust—Fourth Tranche of Debt Service Relief in The Context of The Covid-19 Pandemic and Approval of Additional Beneficiary Member Countries by : International Monetary Fund
Download or read book Catastrophe Containment and Relief Trust—Fourth Tranche of Debt Service Relief in The Context of The Covid-19 Pandemic and Approval of Additional Beneficiary Member Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-10-08 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides brief updates for each CCRT-eligible country on its policy responses to the pandemic and on staff’s assessments of these policies, the use of resources freed up by debt service relief, and the implementation of governance safeguards commitments. The paper also provides an update on the financial situation of the CCRT. The generous support from 17 donor countries and the EU has mobilized SDR 609 million in new pledges since the onset of the pandemic.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1513540602 Total Pages :187 pages Book Rating :4.5/5 (135 download)
Book Synopsis Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief by : International Monetary Fund
Download or read book Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-04-15 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes that the Executive Board determine that the global COVID-19 pandemic constitutes a Qualifying Public Health Disaster (QPHD) under the Catastrophe Containment (CC) Window of the Catastrophe Containment and Relief Trust (CCRT), in line with the new QPHD test approved by the Board on March 26. The CCRT has sufficient financial resources for an initial tranche of grant assistance for debt service relief covering eligible debt falling due from all CCRT-eligible members through October 13, 2020. Fundraising efforts continue to secure the financial resources needed to commit future such tranches for CCRT debt service relief, up to a cap of two years. Staff considers that the 25 members requesting CCRT assistance qualify for immediate CCRT relief.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344925 Total Pages :118 pages Book Rating :4.4/5 (983 download)
Book Synopsis Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters - Proposed Decisions by : International Monetary Fund
Download or read book Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters - Proposed Decisions written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-01-30 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets forth the proposed decisions and related legal instruments that are needed to implement the transformation of the the Post-Catastrophe Debt Relief Trust (the “PCDR Trust”) into the
Book Synopsis Catastrophe Containment and Relief Trust-Fifth Tranche of Debt Service Relief in The Context of The COVID-19 Pandemic by : International Monetary Fund Finance Dept
Download or read book Catastrophe Containment and Relief Trust-Fifth Tranche of Debt Service Relief in The Context of The COVID-19 Pandemic written by International Monetary Fund Finance Dept and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Executive Board approved a two-step approach consisting of (i) an immediate approval of the disbursement of a fourth tranche of debt service relief to all qualified beneficiary countries covering the period from October 16, 2021 through January 10, 2022, and (ii) consideration by January 2022 of a final tranche of CCRT debt service relief through April 13, 2022 based on a brief Board paper with an assessment of resources at that time. In accordance with the two-step approach, this paper provides a brief overview on recent developments in CCRT-eligible countries followed by an update on the CCRT's funding status and resources assessment.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781513558691 Total Pages :98 pages Book Rating :4.5/5 (586 download)
Book Synopsis Catastrophe Containment and Relief Trust—Second Tranche Of Debt Service Relief In The Context Of The COVID-19 Pandemic by : International Monetary Fund
Download or read book Catastrophe Containment and Relief Trust—Second Tranche Of Debt Service Relief In The Context Of The COVID-19 Pandemic written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-10-05 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes that the Executive Board approve the disbursement of a second 6-month tranche of CCRT debt service relief to 28 of the 29 members, covering the period October 14, 2020 through April 13, 2021, given staff’s assessment that sufficient financial resources are available.2 In this context, the paper also provides brief updates for each beneficiary country on its policy responses to the pandemic and staff’s assessment of these policies and the use of resources freed up by debt service relief. It also provides an update on the finances of the CCRT and the fundraising efforts to secure adequate resources for grant assistance in the future. Based on grant pledges to date, resources are not sufficient to extend CCRT relief beyond the proposed second sixth-month period.
Book Synopsis Catastrophe Containment and Relief Trust-Third Tranche Of Debt Service Relief In The Context Of The COVID-19 Pandemic by : International Monetary Fund Finance Dept
Download or read book Catastrophe Containment and Relief Trust-Third Tranche Of Debt Service Relief In The Context Of The COVID-19 Pandemic written by International Monetary Fund Finance Dept and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes that the Executive Board approve the disbursement of a third tranche of CCRT debt service relief to 28 of the 29 CCRT-eligible members, covering the period April 14, 2021 through October 15, 2021, given staff's assessment that sufficient financial resources are available.
Book Synopsis Guinea by : International Monetary Fund. African Dept.
Download or read book Guinea written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-05-01 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Guinea’s Request for Debt Relief Under the Catastrophe Containment (CC) Window of the Catastrophe Containment and Relief (CCR) Trust. Since early 2014, Guinea has been experiencing an ongoing Ebola epidemic that has spread to several countries in the region. The immediate economic effect of the Ebola epidemic has been a pronounced slowdown in 2014. Performance under the Extended Credit Facility arrangement has been satisfactory, the difficult macroeconomic environment notwithstanding. The IMF staff supports the authorities’ request for assistance under the CC window of the CCR Trust given the nature of the public health disaster, and the ensuing financing needs to contain the disease and rehabilitate Guinea’s public health system.
Book Synopsis United Republic of Tanzania by : International Monetary Fund. African Dept.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-06-12 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the United Republic of Tanzania’s Request for Debt Relief Under the Catastrophe Containment and Relief Trust. IMF debt service relief will help free up resources for public sector health needs and other emergency spending, as well as mitigate the balance of payments shock resulting from the pandemic. Given the risks ahead, it would be important to ensure close cooperation with multilateral organizations and donors and ensure enough budget allocations on health and other priority spending. The authorities are committed to using the additional resources for their intended purposes and in a transparent manner, including through ex-post audits of corona virus-related spending. To deal with the remaining risks, it will be important to safeguard appropriate funding for health and other priority social spending in the FY2020/21 budget, as well as ensure close cooperation with the World Health Organization, multilateral agencies, and donors. The focus includes addressing arrears on value-added tax refunds and government expenditures, enhancing human capital and the business environment, and improving the affordability of bank credit.
Book Synopsis Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters by : International Monetary Fund
Download or read book Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-01-31 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s existing facilities for low-income countries (LICs) provide a vehicle for the speedy provision of financial assistance to member countries hit by natural disasters, either through the Rapid Credit Facility (RCF) or through augmentation of the funding already being provided through other facilities such as the Standby or Extended Credit Facilities. The quick disbursement of funds strengthens national financial capacity, including external payments capacity, to tackle relief and recovery challenges. To address catastrophic disasters, the Fund created a mechanism in 2010 to provide additional relief to its poorest and most vulnerable member countries to help meet their exceptional balance of payments needs. Under this mechanism, the Fund can provide grants from a trust fund—the Post Catastrophe Debt Relief (PCDR) trust—that are used to pay off debt service falling due to the Fund. These grants ease pressures on the member’s balance of payments and create financial space by reducing its debt service burden. This paper proposes reforms to this mechanism to cover situations where the member is experiencing an epidemic of an infectious disease that constitutes a significant threat to lives, economic activity, and international commerce across countries.
Book Synopsis Burundi by : International Monetary Fund. African Dept.
Download or read book Burundi written by International Monetary Fund. African Dept. and published by . This book was released on 2020-07-27 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, including from the containment measures introduced in trading partners and neighboring countries. Economic growth projections for 2020 have been revised down by 5.3 percentage points to -3.2 percent in 2020. The pandemic has exacerbated pre-existing economic challenges and creates an external financing need of 4.7 percent of GDP in 2020 and 2021, mainly as a result of lower exports in line with lower foreign demand due to lower global growth and transportation bottlenecks from containment measures in other countries; elevated imports needs related in part to the planned fiscal spending aimed at responding to the pandemic; and reduced remittances inflows. The pandemic has also created a fiscal financing need of6.9 percent of GDP, which will need to be met mainly from external sources.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1513543571 Total Pages :39 pages Book Rating :4.5/5 (135 download)
Book Synopsis Djibouti by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Djibouti written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2020-05-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights Djibouti’s Requests for Disbursement Under the Rapid Credit Facility and Debt Relief Under the Catastrophe Containment and Relief Trust. The coronavirus disease 2019 pandemic is having a severe impact on Djibouti, creating urgent balance of payments and fiscal financing needs. The authorities acted swiftly to contain and mitigate the spread and impact of the virus. Their prevention and containment measures and decisions to scale-up health and other emergency spending to protect households and firms hit by the crisis will help limit economic and social consequences. IMF support is expected to provide additional resources for the essential health and other emergency spending, including social safety nets. It will also help catalyze additional donor support. Once the crisis abates, temporary measures should be unwound, with policies refocusing on promoting a strong and inclusive recovery and preserving medium-term debt sustainability. It will be critical to address and prevent the recurrence of external arrears, ramp up operations of key projects, and reduce public sector borrowing.
Book Synopsis The Federal Democratic Republic of Ethiopia by : International Monetary Fund. African Dept.
Download or read book The Federal Democratic Republic of Ethiopia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-05-06 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on The Federal Democratic Republic of Ethiopia’s Requests for Purchasing Under the Rapid Financing Instrument (RFI), Debt Relief Under the Catastrophe Containment and Relief Trust, Rephasing of Access Under the Three-Year Arrangements Under the Extended Credit Facility and the Extended Fund Facility, and Reduction of Access Under the Extended Fund Facility Arrangement. Ethiopia is facing a pronounced economic slowdown and an urgent balance of payments need owing to the coronavirus disease 2019 (COVID-19) pandemic. The authorities have taken strong actions to contain the health impact by implementing a mandatory 14-day quarantine for travelers entering the country, improving testing and containment capacity, strengthening epidemic response coordination and adopting a state of emergency to limit movement and gatherings and facilitate social distancing. Ethiopia showed good progress under the extended arrangements with the IMF, which aim to address external vulnerabilities and transition to a private sector-led growth model. The authorities remain committed to the reform program. The IMF staff supports the authorities’ plan to accommodate COVID-related fiscal measures, and to resume the fiscal adjustment when the crisis subsides. In order to contain the upward pressure on public debt, the authorities should consider further tightening the spending envelope for state-owned enterprises not directly engaged in the COVID-19 emergency response.
Book Synopsis Liberia by : International Monetary Fund. African Dept.
Download or read book Liberia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-02-27 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Liberia’s Request for Disbursement Under the Rapid Credit Facility (RCF) and Debt Relief Under the Catastrophe Containment and Relief (CCR) Trust. Economic activity has declined significantly, and fiscal and external financing needs are more pronounced than envisaged at the time of the Extended Credit Facility (ECF) augmentation. The authorities remain committed to the broad objectives of the ECF program. The IMF staff recommends approval of the authorities’ requests for a disbursement under the RCF and debt relief under the CCR Trust given the extensive economic damage caused by the Ebola outbreak and based on the authorities’ updated policy intentions and commitments.
Book Synopsis Sierra Leone by : International Monetary Fund. African Dept.
Download or read book Sierra Leone written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-03-24 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Sierra Leone’s Second Review Under the Extended Credit Facility Arrangement and Financing Assurances Review. Economic output is set to contract by some 13 percent in 2015, comprising a decline in non-iron-ore activity of some 2 percent, and a 47 percent slump in iron-ore output as the dominant mining operator is not expected to resume activity until mid-year at the earliest. Policy discussions focused on generating fiscal space to tackle the Ebola emergency and contend with the effects of the slump in iron-ore production and prices. The IMF staff supports the authorities’ request for significant additional financing from the IMF.
