Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief
Policy Papers, April 15, 2020
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- Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief
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Bibliographic details
- Published: April 15, 2020
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513540603.007
Proposed determination and legal test
- The 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).
- This determination is to be made in line with the new QPHD test approved by the Board on March 26.
Financial resources, scope, and timing
- 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.
Eligibility and immediate relief
- Staff considers that the 25 members requesting CCRT assistance qualify for immediate CCRT relief.
Policy focus and subject areas
- The paper addresses: Asset and liability management; Balance of payments; Balance of payments need; COVID-19; Debt relief; Debt service; External debt; Health.
- Keywords highlighted in the document include: Balance of payments need, CCRT, CCRT resource, CCRT-eligible country, COVID-19, Debt relief, Debt service, debt service relief, fundraising, fundraising effort, Global, obligations to the fund, PP, relief from the CCRT, SDR, tranche.
Source: International Monetary Fund.
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- Policy Paper