Global Response Newsfeed

IMF Staff Completes Review Mission to Côte d’Ivoire

“The country has been hit hard by the COVID-19 pandemic. Thanks to the authorities’ swift response and the support of the international community including the IMF, the economic impact has been contained and growth, while significantly lower than initially forecasted, is projected to remain positive at 1.8 percent this year.”

via IMF

IMF Reaches Staff Level Agreement on the Sixth Review for Niger’s Extended Credit Facility Arrangement

“The authorities’ COVID-19 response plan largely contained the pandemic and helped alleviate its socio-economic impact. Economic growth is projected to recover, but uncertainty remains high owing to the global economic outlook.”

via IMF

The IMF Executive Board Extends Immediate Debt Service Relief for 28 Eligible Low-Income Countries for Another Six Months

“Relief on debt service will free up scarce financial resources for vital emergency medical and other relief efforts while these members combat the impact of the COVID-19 pandemic.”

via IMF

IMF Executive Board Approves an Additional US$101.96 Million Disbursement under the Rapid Credit Facility for Malawi to Address the COVID-19 Pandemic

“The additional IMF financing will help fill part of the resulting increased external financing gap and provide the fiscal space needed to address critical spending needs. The authorities are committed to transparency and accountability to ensure that the RCF resources are used appropriately.”

via IMF

IMF Staff Issues an Interim Performance Update to the Board on Rwanda’s Policy Coordination Instrument

“The heavy toll of the COVID-19 pandemic has pushed the fiscal targets for end-June 2020 out of reach and hampered progress in advancing the reform targets agenda. Going forward, the authorities need to implement measures to ensure a growth-friendly fiscal consolidation to safeguard debt sustainability as soon as the crisis abates.”

via IMF

IMF Reaches a Staff-Level Agreement for the First Review of the Extended Credit Facility for Somalia

“Flooding and swarms of desert locusts have aggravated the challenges of the COVID-19 pandemic for Somalia. Swift support from the international community is helping the authorities address the impact on the Somali people and the economy.”

via IMF

IMF Board Endorses Staff-Monitored Program for Sudan

“The Executive Board endorsed Sudan’s Staff-Monitored Program as meeting the Upper Credit Tranche Conditionality standard. The government requested the program to establish a strong track record of policy and reform implementation—a key requirement for eventual debt relief.”

via IMF

Ghana To Provide 550,000 People with Improved Water and Sanitation Services

“The World Bank Board of Executive Directors today approved $125 million to support the Government of the Republic of Ghana’s effort to reach 550,000 people in low income urban communities with improved sanitation and water supply services. “

via World Bank

IMF Executive Board Completes the Third Review of Angola’s Extended Arrangement Under the Extended Fund Facility and Augments Disbursement to Address the Impact of COVID-19

“The Executive Board of the IMF today completed the third review of Angola’s economic program supported by an extended arrangement under the Extended Fund Facility. Completion of this review unlocks access to SDR 731.7 million (about US$1 billion), bringing total disbursements under the extended arrangement to SDR 1,804.7 million.”

via IMF

World Bank Provides US$300 Million Additional Financing To Boost Service Delivery Through Local Governments in Uganda

“The World Bank Board of Directors today approved $300 million in additional financing to the Uganda Intergovernmental Fiscal Transfers Program for Results to boost local governments service delivery in education, health, water and environment, and micro irrigation, including in areas hosting large populations of refugees.”

via World Bank