Global Response Newsfeed

Masiyiwa in US$100 billion stimulus package for African countries

“Zimbabwe-born businessman Strive Masiyiwa has ramped up his fight against the deadly Coronavirus virus on the continent, and – through his campaign called #OneFightAgainstCorona – is now appealing for data to back a US$100 billion stimulus package to bailout African governments, with the continent’s economies hit by COVID-19 global pandemic.”

via Zimbabwe Independent

IMF Executive Board Approves a US$109.4 Million Disbursement to Rwanda to address the COVID-19 Pandemic

“The Executive Board of the International Monetary Fund (IMF) today approved the disbursement of SDR80.1 million (about US$109.4 million) to be drawn under the Rapid Credit Facility (RCF). This will serve to meet Rwanda’s urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic.”

via IMF

IMF Staff completes Discussions for a US$221 Million Disbursement to Senegal in response to the COVID-19 Pandemic

“IMF Executive Board’s approval of the request by the Senegalese authorities will make available US$221 million to meet the urgent budgetary and balance of payments needs stemming from the COVID-19 pandemic… Senegal’s financing request will be considered by the IMF’s Executive Board by mid-April.”

via IMF

IMF Executive Board Completes Fourth Review Under the Extended Credit Facility Arrangement and Approves US$23.5 Million Disbursement for Guinea

“While performance under the Fund-supported program remains broadly satisfactory, Guinea faces significant downside risks related to COVID-19 pandemic. The Fund will remain closely engaged with the Guinean country authorities as the situation evolves, and as the authorities further develop their policy responses and financing needs change.”

via IMF

Communiqué – African Ministers of Finance – Immediate call for $100 Billion support and agreement the crisis is deep and recovery will take much longer

“The Ministers emphasized the heavy toll that the global economic slowdown will have on the African economy, with urgent need for fiscal stimulus to contain the crisis… They therefore called for the urgent and immediate release of the US$ 100 billion of which US$ 44 billion will go towards debt relief for all African countries.”

via UNECA

Motsepe Family and Associated Companies Pledge R1 Billion for Dealing with Coronavirus Pandemic and Related Challenges

“The Motsepe Family in partnership with companies and organisations that they are associated with, have pledged R1 billion to assist with the current Coronavirus (COVID-19) pandemic and its related challenges that are confronting South Africa and the African Continent.”

via Motsepe Foundation

South Africa Billionaire Motsepe Pledges $57 Million for Virus

“Billionaire Patrice Motsepe’s family and companies in which he has shareholding pledged to spend 1 billion rand ($57 million) on fighting the COVID-19 pandemic in South Africa.”

via Bloomberg

IMF Enhances Debt Relief Trust to Enable Support for Eligible Low-Income Countries in the Wake of the COVID-19 Pandemic

“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 benefitting eligible low-income countries.”

via IMF

African Development Bank launches record breaking $3 billion “Fight COVID-19” Social Bond

“The African Development Bank has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the COVID-19 pandemic will have on livelihoods and Africa’s economies… This is the largest dollar denominated Social Bond ever launched in international capital markets to date.”

via AfDB

Zimbabwe Billionaire Offers Fresh Support to Health-Care Workers

“The assistance includes protective clothing, cash, life and health insurance and transport for nurses and doctors. Workers will receive a cash benefit of Z$500 per day in the event they are hospitalized and a lump-sum benefit of Z$50,000 in the event of permanent disability or death from the virus, according to Ecosure General Manager Godwin Mashiri.”

via Bloomberg