IMF activities as a provider of financial assistance to the countries affected by the COVID-19 pandemic

2021 ◽  
pp. 137-146
Author(s):  
М.Б. Медведева ◽  
Л.И. Хомякова ◽  
А.Д. Зверева
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Financial Assistance ◽  
Low Income Countries ◽  
Extensive Program ◽  
The Imf

В целях поддержки стран по преодолению экономических последствий пандемии COVID-19 МВФ выделил им финансовые ресурсы и предоставил инструменты облегчения обслуживания долга в рамках различных механизмов кредитования и финансирования. Программа действует с конца марта 2020 года. В статье отмечено, что МВФ быстро отреагировал на чрезвычайную ситуацию, вызванную пандемией, и развернул широкую программу помощи странам с низким уровнем дохода в целях преодоления ее последствий. The IMF provides financial assistance and debt relief under various lending and financing mechanisms to member countries facing the economic fallout from the COVID-19 pandemics. The article provides an overview of the assistance approved by the IMF since the end of March 2020. It was noted that the IMF quickly responded to the emergency caused by the pandemic and launched an extensive program of assistance to low-income countries in order to overcome its consequences.

The Fund’s Liquidity Position—Review and Outlook

Policy Papers ◽  
2010 ◽  
Vol 2010 (36) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Low Income Countries ◽  
Trust Fund ◽  
International Consensus ◽  
International Debt ◽  
Relief Efforts ◽  
The Imf

This paper proposes a new trust fund that would enable the IMF to join international debt relief efforts for Haiti and other low-income countries hit by similar catastrophic disasters. Following the devastation caused by the recent earthquake in Haiti, an international consensus emerged that creditors should consider full debt relief to support Haiti’s recovery. Haiti’s debt to the IMF stands at SDR 178 million.

scholarly journals Somalia

2020 ◽  
Vol 20 (86) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Net Present Value ◽  
Debt Relief ◽  
Debt Management ◽  
Policy Framework ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
Poor Countries ◽  
Heavily Indebted Poor Countries ◽  
Hipc Initiative

This paper presents an assessment of Somalia’s eligibility for assistance under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The macroeconomic framework reflects the policy framework underlying the proposed three-year Fund-supported program. The debt relief analysis (DRA) remains largely unchanged, but some of the underlying debt data has been updated to reflect new information from creditors. In addition, this paper presents an assessment of debt management capacity in Somalia and a full Debt Sustainability Analysis under the Debt Sustainability Framework for Low-Income Countries. The DRA reveals that, after traditional debt relief mechanisms are applied, Somalia’s debt burden expressed as the net present value of debt-to-exports ratio is 344.2 percent at the end of December 2018—significantly above the HIPC Initiative threshold. Despite the challenging environment, progress on reform and policy implementation has been good and sustained reforms have translated into economic results. In addition to the coordinated support from the World Bank and the IMF, reforms have been supported by other development partners.

scholarly journals The dynamic implications of debt relief for low-income countries

2015 ◽  
Vol 5 (1) ◽  
pp. 1-12 ◽  
Author(s):  
Alma Lucía Romero-Barrutieta ◽  
Aleš Bulíř ◽  
José Daniel Rodríguez-Delgado
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Low Income Countries

Update on the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries

Policy Papers ◽  
2017 ◽  
Vol 17 (15) ◽  
Author(s):  
Keyword(s):  
Natural Disasters ◽  
Financial Market ◽  
Low Income ◽  
Commodity Prices ◽  
Safety Net ◽  
Debt Relief ◽  
Balance Of Payments ◽  
Low Income Countries ◽  
Market Conditions ◽  
Financial Safety Net

PRGT-related policies following the 2015 enhancement of the financial safety net for LICs, while options to better assist countries confronting sudden balance of payments needs due to large natural disasters are under consideration. Demand for PRGT resources has increased. Demand for concessional resources has exceeded historical averages in recent years, mainly in response to sustained low commodity prices and deteriorated global financial market conditions. Demand is expected to reach new highs in 2017 and longer-term estimates have been raised somewhat.

Strengthening the Fund's Ability to Assist Low-Income Countries Meet Balance of Payments Needs Arising from Sudden and Exogenous Shocks -- Supplement

Policy Papers ◽  
2005 ◽  
Vol 2005 (40) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Balance Of Payments ◽  
Low Income Countries ◽  
Exogenous Shocks ◽  
Debt Cancellation ◽  
Operational Aspects

The G-8 debt relief proposal, if adopted, should have little impact on the rational and operational aspects of the shocks window, but it may affect some of the financing consideratins, which are taken up in the page on "The G-8 Debt Cancellation Proposal and its Implications for the Fund.

Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries

Policy Papers ◽  
2008 ◽  
Vol 2008 (3) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Low Income Countries ◽  
Bank Debt ◽  
Debt Sustainability ◽  
Poor Countries ◽  
Guidance Note ◽  
Heavily Indebted Poor Countries ◽  
Alternative Scenarios ◽  
Sustainability Framework

The objective of the joint Fund-Bank debt sustainability framework for low-income countries is to support LICs in their efforts to achieve their development goals without creating future debt problems. Countries that have received debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) need to be kept on a sustainable track. Under the framework, country DSAs are prepared jointly by Bank and Fund staff, with close collaboration between the two staffs on the design of the macroeconomic baseline, alternative scenarios, the debt distress rating, and the drafting of the write-up.

Near-term IMF funds are ample, but more may be needed

2020 ◽  
Keyword(s):  
Emerging Markets ◽  
Economic Crisis ◽  
Low Income ◽  
Low Income Countries ◽  
First Responder ◽  
Content Type ◽  
Near Term ◽  
Second Wave ◽  
The Imf

Subject IMF funding dynamics. Significance The disruption caused by the COVID-19 pandemic is putting emerging markets (EMs) and low-income Countries (LICs) under economic and financial stresses. The IMF has long served as the world’s first responder to crises, and some 90 countries have already turned to it, raising fears of whether it has adequate resources to play a systemic role in helping to support these countries. Impacts A second wave of COVID-19 infections and deaths would prolong the economic crisis and could sharply raise demands for IMF resources. The organisation needs a quota increase but the fastest way to raise more resources for EMs is by increasing bilateral borrowing. For low-income countries, additional IMF funding is being mobilised.

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