News on the Global Response | Page 3 of 23

IMF Executive Board Completes Sixth Review Under the Extended Credit Facility Arrangement for Niger and Approves a US$19.9 Million Disbursement

October 26, 2020 Global Response Niger IMF Article/Blog post by John Schellhase

“The need to protect the economy and vulnerable populations in the face of the COVID-19 pandemic justifies larger fiscal deficits in 2020 and 2021. However, to safeguard Niger’s public finances, it will be important to guard against high deficits becoming entrenched, step up revenue collection, improve the quality of public spending, and ensure good management of forthcoming additional oil revenues.”

World Bank Helps Mozambique Mitigate Impact of COVID-19 with a New $100 Million Grant

October 22, 2020 Global Response / Latest Developments Mozambique World Bank Press release by John Schellhase

“The financing will help mitigate the adverse impacts of the pandemic on people’s lives and livelihoods by supporting the immediate COVID-19 response and supporting businesses and reforms in view of improved fiscal sustainability.”

IMF Executive Board Approves a US $156 million New Disbursement for Cameroon to Address the impact of the COVID-19 Pandemic

October 21, 2020 Global Response Cameroon IMF Article/Blog post by John Schellhase

“The COVID-19 pandemic continues to pose significant challenges for Cameroon. Declining economic activity and persisting terms of trade shock are giving rise to substantial fiscal pressures and an urgent balance of payments need.”

World Bank Approves $12 Billion for COVID-19 Vaccines

October 13, 2020 Global Response World Bank Press release by John Schellhase

“The World Bank’s Board of Executive Directors today approved an envelope of $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens.”

Health impact World Bank

The Gambia to Strengthen Health Care Delivery in the Face of COVID-19

October 9, 2020 Global Response Gambia World Bank Press release by John Schellhase

“The World Bank Board of Executive Directors approved a $30 million grant from the International Development Association to improve the quality and utilization of essential health services in The Gambia. “

New World Bank Group Country Engagement Note to Support Inclusive and Equitable Growth Path for Sudan

October 8, 2020 Global Response Sudan World Bank Press release by John Schellhase

“The World Bank Group’s Board of Executive Directors today endorsed a new Country Engagement Note (CEN) for Sudan. The CEN is aimed at supporting the Government of Sudan’s efforts to reform the economy, build a more equitable social contract, and provide a better future for Sudanese people.”

IMF Staff Completes Review Mission to Côte d’Ivoire

October 7, 2020 Global Response Cote d'Ivoire IMF Press release by John Schellhase

“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.”

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

October 7, 2020 Global Response Niger IMF Press release by John Schellhase

“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.”

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

October 5, 2020 Global Response IMF Press release by John Schellhase

“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.”

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

October 2, 2020 Global Response Malawi IMF Press release by John Schellhase

“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.”