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International Monetary Fund. African Dept.
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.
International Monetary Fund

qualification criteria by adding an alternative test for a Qualifying Public Health Disaster (QPHD) in the event of a global pandemic (paragraph 18 of SM/20/74). The proposed decision would implement the proposal to expand the qualification criteria under the CC window by introducing an alternative test for determining that a member is suffering from a Qualifying Public Health Disaster. Under the new test, the Board may determine that a QPHD exists where a life-threatening global pandemic is inflicting severe economic disruption across the Fund’s membership and is creating

International Monetary Fund
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.
International Monetary Fund
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.
International Monetary Fund

fall of 2014. B. How Does the CCRT Operate? 4. The CCRT has two windows : (i) a Post-Catastrophe Relief (PCR) window for support in the wake of a catastrophic natural disaster; and (ii) the Catastrophe Containment (CC) window (“health crisis window”) which aids in dealing with a major public health disaster. While several features below apply to both the PCR window and the CC window, and any financing needs would need to ensure that resources are sufficient for potential future use under both windows, this paper focuses on the CC window in light of the

International Monetary Fund

In direct response to the COVID-19 crisis theIMF Executive Board has adopted some immediate enhancements to its Catastrophe Containment and Relief Trust (CCRT)

International Monetary Fund

particular the new CCR Trust Instrument . The proposed reforms envisage the transformation of the PCDR Trust into the CCR Trust through an amendment of the PCDR Trust Instrument . 1. The new CCR Trust would have two windows: (i) the Post-Catastrophe Relief (PCR) window; and (ii) the Catastrophe Containment (CC) window. 1 2. Eligibility for access to the resources of the CCR Trust , under both windows, would be limited to the poorest and most vulnerable member countries, just as under the existing PCDR Trust. 3. The qualification criteria for access , the amount

International Monetary Fund
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 Catastrophe Containment and Relief Trust (the “CCR Trust” or “Trust”), as described in the Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters and as presented in an informal session to brief Executive Directors on January 28, 2015. The paper summarizes key aspects of the proposed decisions and related instruments, in particular the new CCR Trust Instrument. The proposed reforms envisage the transformation of the PCDR Trust into the CCR Trust through an amendment of the PCDR Trust Instrument.
International Monetary Fund

relief”) and, in appropriate cases, permanent debt relief on such debt (“debt stock relief”), where the member experienced a Qualifying Catastrophic Disaster, subject to the terms of this Instrument ; or (b) the Catastrophe Containment Window (CC window), in the form of grants that shall be used to provide immediate debt relief on eligible debt (“immediate debt relief”), where the member experienced a Qualifying Public Health Disaster subject to the terms of this Instrument Paragraph 2. Trust Accounts and Resources (a) For its operations and transactions the