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IMF POLICY PAPER
CATASTROPHE CONTAINMENT AND RELIEF TRUST—APPROVAL OF GRANT ASSISTANCE FOR DEBT SERVICE RELIEF
April 15, 2020
IMF staff regularly produces papers proposing new IMF policies, exploring options for reform, or reviewing existing IMF policies and operations The following documents have been released and are included in this package
A Press Release summarizing the views of the Executive Board as expressed during its April 13, 2020 consideration of the staff report
The Staff Report, prepared by IMF staff and completed on April 8, 2020 for the Executive Board’s consideration on April 13, 2020
The IMF’s transparency policy allows for the deletion of market-sensitive information and premature disclosure of the authorities’ policy intentions in published staff reports and other documents.
Electronic copies of IMF Policy Papers are available to the public from http://www.imf.org/external/pp/ppindex.aspx
International Monetary Fund
Washington, D.C.
© 2020 International Monetary Fund
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CATASTROPHE CONTAINMENT AND RELIEF TRUST— APPROVAL OF GRANT ASSISTANCE FOR DEBT SERVICE RELIEF
April 8, 2020
Executive Summary
This paper proposes that the Executive Board determine that the global COVID-19 pandemic constitutes a Qualifying Public Health Disaster (QPHD) under the Catastrophe Containment (CC) Window of the Catastrophe Containment and Relief Trust (CCRT), in line with the new QPHD test approved by the Board on March 26. The CCRT has sufficient financial resources for an initial tranche of grant assistance for debt service relief covering eligible debt falling due from all CCRT-eligible members through October 13, 2020. Fundraising efforts continue to secure the financial resources needed to commit future such tranches for CCRT debt service relief, up to a cap of two years. Staff considers that the 25 members requesting CCRT assistance qualify for immediate CCRT relief.
Approved By
Andrew Tweedie, Martin Mühleisen, Rhoda Weeks-Brown
Prepared by the Finance Department, the Legal Department, and the Strategy, Policy, and Review Department
Contents
DETERMINATION OF GLOBAL PANDEMIC
FUNDING STATUS OF THE CCRT
REQUESTS FOR ASSISTANCE UNDER THE CCRT
TECHNICAL MODIFICATIONS TO THE CCRT DECISION
FIGURE
1. Global Spread of COVID-19, as of April 8, 2020
TABLES
1. CCRT Eligible Countries, as of end-March 2020
2. Eligible Debt Service for Relief from the CCRT
ANNEXES
1.A. Islamic Republic of Afghanistan: Staff Appraisal—CCRT Request
1.B. Islamic Republic of Afghanistan: Letter of Intent—CCRT Request
2.A. Benin: Staff Appraisal—CCRT Request
2.B. Benin: Letter of Intent—CCRT Request
3.A. Burkina Faso: Staff Appraisal—CCRT Request
3.B. Burkina Faso: Letter of Intent—CCRT Request
4.A. Central African Republic: Staff Appraisal—CCRT Request
4.B. Central African Republic: Letter of Intent—CCRT Request
5.A. Chad: Staff Appraisal—CCRT Request
5.B. Chad: Letter of Intent—CCRT Request
6.A. Union of the Comoros: Staff Appraisal—CCRT Request
6.B. Union of the Comoros: Letter of Intent—CCRT Request
7.A. Democratic Republic of Congo: Staff Appraisal— CCRT Request
7.B. Democratic Republic of Congo: Letter of Intent—CCRT Request
8.A. The Gambia: Staff Appraisal—CCRT Request
8.B. The Gambia: Letter of Intent—CCRT Request
9.A. Guinea: Staff Appraisal—CCRT Request
9.B. Guinea: Letter of Intent—CCRT Request
10.A. Guinea-Bissau: Staff Appraisal—CCRT Request
10.B. Guinea-Bissau: Letter of Intent—CCRT Request
11.A. Haiti: Staff Appraisal—CCRT Request
11.B. Haiti: Letter of Intent—CCRT Request
12.A. Liberia: Staff Appraisal—CCRT Request
12.B. Liberia: Letter of Intent—CCRT Request
13.A. Republic of Madagascar: Staff Appraisal—CCRT Request
13.B. Republic of Madagascar: Letter of Intent—CCRT Request
14.A. Malawi: Staff Appraisal—CCRT Request
14.B. Malawi: Letter of Intent—CCRT Request
15.A. Mali: Staff Appraisal—CCRT Request
15.B. Mali: Letter of Intent— CCRT Request
16.A. Republic of Mozambique: Staff Appraisal—CCRT Request
16.B. Republic of Mozambique: Letter of Intent—CCRT Request
17.A. Nepal: Staff Appraisal—CCRT Request
17.B. Nepal: Letter of Intent—CCRT Request
18.A. Niger: Staff Appraisal—CCRT Request
18.B. Niger: Letter of Intent—CCRT Request
19.A. Rwanda: Staff Appraisal—CCRT Request
19.B. Rwanda: Letter of Intent—CCRT Request
20.A. Sierra Leone: Staff Appraisal—CCRT Request
20.B. Sierra Leone: Letter of Intent—CCRT Request
21.A. Solomon Islands: Staff Appraisal—CCRT Request
21.B. Solomon Islands: Letter of Intent—CCRT Request
22.A. Democratic Republic of São Tomé and PrÃncipe: Staff Appraisal—CCRT Request
22.B. Democratic Republic of São Tomé and PrÃncipe: Letter of Intent—CCRT Request
23.A. Republic of Tajikistan: Staff Appraisal—CCRT Request
23.B. Republic of Tajikistan: Letter of Intent—CCRT Request
24.A. Togo: Staff Appraisal—CCRT Request
24.B. Togo: Letter of Intent—CCRT Request
25.A. Republic of Yemen: Staff Appraisal—CCRT Request
25.B. Republic of Yemen: Letter of Intent—CCRT Request
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