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Mr. Ales Bulir, Daniel Baksa, Mr. Juan S Corrales, Andres Gonzalez, Diego Rodriguez, and Dyna Heng
This technical note and manual (TNM) addresses the following issues: • Evaluating the full implications from the policies adopted to mitigate the impact of the COVID-19 pandemic on the economy requires a well-developed macroeconomic framework. This note illustrates how such frameworks were used to analyze Colombia and Cambodia's shock impact at the beginning of the pandemic. • The use of macroeconomic frameworks is not to infer general policy conclusions from abstract models or empirical analysis but to help policymakers think through and articulate coherent forecasts, scenarios, and policy responses. • The two country cases illustrate how to construct a baseline scenario consistent with a COVID-19 shock within structural macroeconomic models. The scenario is built gradually to incorporate the available information, the pandemic's full effects, and the policy responses. • The results demonstrate the value of combining close attention to the data, near-term forecasting, and model-based analyses to support coherent policies.
International Monetary Fund. African Dept.
As explained in IMF Country Report No. 20/115, COVID-19 has had a severe economic impact on Rwanda through the implementation of strict domestic measures to contain the spread of the virus and related global spillovers. The authorities have responded by deploying health and economic measures totaling USD 311 million (3.3 percent of GDP). They have also set up an economic recovery fund to support firms affected by the pandemic. To help address the urgent balance of payments (BOP) need arising from the pandemic, currently estimated at about USD 433 million, the authorities request an additional disbursement under the Rapid Credit Facility (RCF) of 50 percent of quota (SDR 80.1 million) under the “exogenous shock” window of the RCF. This follows the Executive Board’s approval on April 2, 2020 of the authorities’ earlier request for the same amount, before the doubling of the annual access limit of emergency financing under the “exogenous shock” window of the RCF to 100 percent of quota on April 9, 2020. This additional request will bring the total disbursement under the RCF to 100 percent of quota.
International Monetary Fund. External Relations Dept.
Finance & Development, December 2014
International Monetary Fund. External Relations Dept.
Finance & Development, December 2014
International Monetary Fund. External Relations Dept.
Finance & Development, December 2014
International Monetary Fund. External Relations Dept.
Finanzas y Desarrollo, diciembre de 2014
International Monetary Fund. External Relations Dept.
International Monetary Fund. External Relations Dept.
This chapter emphasizes the importance of health policy and its implementation and connection to economic growth. The chapter also offers a different view of progress in the provision of better health facilities. The study looks at today’s health systems—the amalgam of people, practices, rules, and institutions that serve the health needs of a population—and at the economics behind them. The role good health plays in individuals’ and households’ ability to rise and remain above the poverty line is stressed. Several health reports are presented.