News & Analysis: Madagascar
“Madagascar has announced a stimulus package offering close to a million small businesses secure loans at below market rates to help weather the impact of the coronavirus outbreak, the government said.”
“Rajoelina, the 45-year-old president of Madagascar, was the youngest person in attendance. He came bearing what he said was good news: Madagascar had discovered a cure for COVID-19. This was not the first time Rajoelina had made such a claim. He has been aggressively touting the benefits of Covid-Organics, a herbal drink invented by the Malagasy Institute of Applied Research.”
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“Kenya also has existing cash transfer programs targeting over a million people, that receive 2,000 Kenyan shillings, or $19, per month. The national treasury allocated an additional 10 billion shillings to this program for supporting vulnerable groups including the elderly and orphans during this pandemic period.”
“Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.”
” COVID-19 spreads at close range through respiratory droplets. Consequently, the most serious outbreaks of the pandemic have been seen in dense settings and close-knit social networks. With household and core urban densities among the world’s highest, African cities have the potential to serve as deadly incubators for the virus’s spread.”
“The Executive Board of the International Monetary Fund (IMF) today approved a disbursement under the Rapid Credit Facility (RCF) equivalent to SDR 122.2 million (about US$ 165.99million at today’s US$/SDR exchange rate, or 50 percent of the quota) to help the country meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic.”
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