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International Monetary Fund. African Dept.

.4 million, 78.6 percent of quota, 1.2 percent of GDP). This followed the approval of debt service relief during April-October 2020 under the Catastrophe Containment Relief Trust (CCRT) of about SDR 7.3 million (about US$10 million, 0.06 percent of GDP). 5. Upcoming CCRT eligible debt service . Mali has debt service of SDR 7.5 million (US$10 million, about 0.06 percent of GDP) falling due during the 6-month interval from October 14, 2020 to April 13, 2021, the maximum period covered by the 2 nd tranche of debt service relief under the CCRT. 6. Staff assessment

International Monetary Fund. Finance Dept., International Monetary Fund. Legal Dept., and International Monetary Fund. Strategy, Policy, & Review Department
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.
International Monetary Fund. Finance Dept., International Monetary Fund. Legal Dept., and International Monetary Fund. Strategy, Policy, & Review Department

.0 5.0 4.3 -0.7 LI DCs 5.3 0.1 5.1 3.0 -2.1 5.3 5.3 0.0 EMDEs 3.7 -2.1 4.6 6.4 1.8 4.7 5.1 0.4 AEs 1.7 -4.5 1.6 5.2 3.6 1.5 4.5 3.0 Global 2.8 -3.1 3.4 5.9 2.5 3.5 4.9 1.4 Source: Staff calculations. 1 January 2020 WEO. 2 October 2021 WEO. 2. To date, the Executive Board has approved four tranches of debt service relief, totaling SDR 607.5 million for all CCRT-eligible members with eligible debt service falling due to the Fund from April 14

International Monetary Fund. Finance Dept., International Monetary Fund. Strategy, Policy, &, Review Department, and International Monetary Fund. Legal Dept.
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.
International Monetary Fund
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.
International Monetary Fund

million (SDR 14.5 million), and Bulgaria disbursed SDR 1.9 million. 10. Staff assesses the available resources and pledges to be sufficient to finance a second six-month tranche of debt service relief . With total grant pledges (SDR 360 million) already disbursed or about to be disbursed 13 covering both the first and second six-month debt relief period (amounting to SDR 183 million and SDR 168 million respectively), staff considers that overall resources are adequate for the second CCRT tranche, while maintaining a small resource cushion for other potential CCRT

International Monetary Fund. African Dept.
The COVID-19 pandemic and the August 2020 coup d’état have disrupted more than half a decade of strong economic performance, during which growth averaged 5 percent.1 Growth is projected to decline from 5 percent to -2 percent in 2020 both on account of the pandemic (reflecting a slowdown in external demand, travel, and FDI, as well as the impact of uncertainty and reduced mobility on domestic demand) and of post-coup disruptions in trade, transport, economic and financial flows following the sanctions imposed by the Economic Community of West African States (ECOWAS). Inflation accelerated slightly in recent months but is expected to remain below 2 percent, while the current account deficit is projected to narrow due to higher gold prices (main export) and lower oil prices (main import). Risks around the outlook are exceptionally high in light of the uncertainty surrounding the political transition, the impact of the sanctions on trade and overall activity, and continued deterioration in the security situation. Weak social safety nets amid high informality, food insecurity and a fragile healthcare system exacerbate challenges.
International Monetary Fund. African Dept.
The COVID-19 pandemic and the August 2020 coup d’état have disrupted more than half a decade of strong economic performance, during which growth averaged 5 percent.1 Growth is projected to decline from 5 percent to -2 percent in 2020 both on account of the pandemic (reflecting a slowdown in external demand, travel, and FDI, as well as the impact of uncertainty and reduced mobility on domestic demand) and of post-coup disruptions in trade, transport, economic and financial flows following the sanctions imposed by the Economic Community of West African States (ECOWAS). Inflation accelerated slightly in recent months but is expected to remain below 2 percent, while the current account deficit is projected to narrow due to higher gold prices (main export) and lower oil prices (main import). Risks around the outlook are exceptionally high in light of the uncertainty surrounding the political transition, the impact of the sanctions on trade and overall activity, and continued deterioration in the security situation. Weak social safety nets amid high informality, food insecurity and a fragile healthcare system exacerbate challenges.
International Monetary Fund
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.