Niger: Requests for Disbursement Under the Rapid Credit Facility and for Rephasing of Access Under the Extended Credit Facility -Press Release; Staff Report; and Statement by the Executive Director for Niger
IMF Staff Country Reports, April 23, 2020
Source details
- Canonical URL
- Niger: Requests for Disbursement Under the Rapid Credit Facility and for Rephasing of Access Under the Extended Credit Facility -Press Release; Staff Report; and Statement by the Executive Director for Niger
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Bibliographic details
- Published: April 23, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513541853.002
Summary and purpose
- Discusses Niger’s requests for disbursement under the Rapid Credit Facility (RCF) and for rephasing of access under the Extended Credit Facility (ECF).
- Focuses on the economic and fiscal impact of the coronavirus disease 2019 (COVID-19) pandemic on Niger and the authorities’ requests to the IMF in response to program delays.
COVID-19 impact and timeline
- First local COVID-19 infection reported on March 19, 2020.
- State of emergency declared on March 27, 2020.
- The pandemic is inflicting significant damage on Niger’s economy while the government faces a deteriorating security situation across the Sahel region.
- Authorities adopted a comprehensive response plan comprising health care measures and steps to alleviate social and economic fallout.
Program status, reviews, and requests
- The 5th program review was concluded on January 8, 2019.
- Performance since the 5th review has been mixed.
- Difficulties in reliably recalibrating program parameters while the global COVID-19 crisis is still unfolding preclude conducting the 6th program review on the regular schedule.
- Authorities previously requested an extension of the program.
- Authorities now request rephasing the final disbursement due to the delay.
Policy implications and operational considerations
- Need to balance health-care response measures with steps to alleviate social and economic fallout.
- Rephasing of final disbursement under the ECF is sought to accommodate delays caused by the inability to conduct the 6th review on schedule.
- Use of RCF resources to address immediate financing needs arising from the COVID-19 shock.
Subjects and keywords
- Subjects: COVID-19, Credit, Expenditure, External debt, Financial institutions, Health, Loans, Money, Public debt
- Keywords: authorities of Niger, COVID-19, CR, Credit, ECF arrangement, financial support, financing gap, Global, IMF staff estimate, ISCR, Loans, RCF fund, right
Source: Niger: Requests for Disbursement Under the Rapid Credit Facility and for Rephasing of Access Under the Extended Credit Facility -Press Release; Staff Report; and Statement by the Executive Director for Niger (IMF Staff Country Report No. 2020/128).
Content in this bundle
- 1nerea2020002