St. Lucia: Request for Disbursement Under the Rapid Credit Facility-Press Release; and Staff Report
IMF Staff Country Reports, May 12, 2020
Source details
- Canonical URL
- St. Lucia: Request for Disbursement Under the Rapid Credit Facility-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: May 12, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513543444.002
Overview
- Discusses St. Lucia’s Request for Disbursement Under the Rapid Credit Facility.
- IMF financing support provides resources to the countries’ authorities for essential health-related expenditures and income support to ease the impact of coronavirus disease 2019 on the population.
- The IMF will continue to be engaged with Dominica, Grenada, and St. Lucia, and stands ready to provide policy advice and further support as needed.
Pandemic response measures implemented by authorities
- Announced measures to help employees and households, including:
- income support to the unemployed,
- tax relief,
- providing cash transfers to the most vulnerable and affected.
- Governments have:
- swiftly implemented containment measures,
- allocated scarce budgetary resources to critical health care spending,
- introduced income support to the most affected sectors and households.
Financial system and central bank actions
- Protection of the financial system will help cushion the economic impact of the pandemic.
- Measures have been taken by the Eastern Caribbean Central Bank to facilitate the provision of credit and safeguard financial stability.
IMF financing and engagement
- IMF financing support aimed at essential health-related expenditures and income support.
- IMF stands ready to provide policy advice and further support as needed to Dominica, Grenada, and St. Lucia.
Key subjects and keywords
- Subject: COVID-19, Economic sectors, Expenditure, External debt, Health, Public debt, Tourism
- Keywords: Caribbean, construction expenditure, COVID-19, CR, Executive Board discussion, financing, financing needs, GDP, Global, IMF emergency support, IMF financing support, IMF support, income support, ISCR, Tourism
Content in this bundle
- 1lcaea2020002