{ "title": "IMF Executive Board Approves a US$115.1 million Disbursement to Chad to Address the Covid-19 Pandemic", "publication": "IMF News, April 14, 2020", "sourceUrl": "https://www.imf.org/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19", "canonical": "https://www.imf.org/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19", "overlayPath": "/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/index.md", "summary": "The Executive Board approved a disbursement under the Rapid Credit Facility (RCF) equivalent to SDR 84.12 million (about US$115.1 million, or 60 percent of quota).", "publishDate": "2020-04-14", "sections": [ { "heading": "Disbursement approval and amounts", "content": "- The Executive Board approved a disbursement under the Rapid Credit Facility (RCF) equivalent to SDR 84.12 million (about US$115.1 million, or 60 percent of quota).\n- Approval date: April 14, 2020." }, { "heading": "Economic impact and macroeconomic context", "content": "- The outbreak of COVID-19 and the drop in international oil prices are having a severe economic and social impact on Chad.\n- These shocks could jeopardize gains achieved under the current Extended Credit Facility (ECF) arrangement.\n- Economic activity has slowed down and large financing needs have emerged.\n- The shocks include: COVID-19 outbreak, collapse in international oil prices, and a deteriorating security situation." }, { "heading": "Authorities’ actions and policy stance", "content": "- The authorities have taken strong measures to halt the community spread of the virus.\n- They are scaling up health-related spending and preparing a comprehensive economic plan to upgrade the health system and contain the economic impact of the pandemic.\n- Authorities are considering a set of economic measures to support households and businesses.\n- Given the sudden nature of the shocks, the authorities will be temporarily relaxing the fiscal deficit to:\n - allow for the scaling up of health care spending, and\n - accommodate the impact of the sharp drop in oil prices.\n- To safeguard debt sustainability, the authorities remain committed to the medium-term fiscal path and will implement needed adjustment measures as soon as the current crisis abates." }, { "heading": "Use of IMF support and expected effects", "content": "- The IMF’s support is intended to:\n - help Chad meet urgent balance of payment needs stemming from the deterioration of global conditions and the COVID-19 pandemic,\n - make a substantial contribution to filling immediate external needs,\n - preserve fiscal space for essential COVID-19-related health expenditure,\n - help catalyze additional donor support.\n- Additional financial assistance from development partners is described as critical to support government mitigation efforts." }, { "heading": "Key statement from IMF management", "content": "- Statement by Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, following the Executive Board discussion:\n - Chad is facing shocks from COVID-19, the collapse in international oil prices, and a deteriorating security situation, causing significant economic and social hardships.\n - Economic activity has slowed and large financing needs have emerged.\n - Authorities have taken strong measures to halt community spread, are scaling up health spending, and are considering measures to support households and businesses.\n - Authorities will temporarily relax the fiscal deficit to scale up health care spending and accommodate the drop in oil prices, while remaining committed to the medium-term fiscal path and adjusting when the crisis abates.\n - Much-needed financial assistance from development partners will be critical." }, { "heading": "Media contact", "content": "- IMF Communications Department, MEDIA RELATIONS\n- PRESS OFFICER: Gediminas Vilkas\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org\n- @IMFSpokesperson\n\nSource: IMF press release, April 14, 2020.\n\n---\n\n\n References\n\n- https://www.imf.org/-/media/images/imf/bios/imfboard.jpg\n- The Executive Board\n- Chad and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/Topics/imf-and-covid19/COVID-Lending-Tracker\n- https://www.imf.org/external/NP/SEC/bc/eng/index.aspx\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19" } ], "bullets": [ "[Markdown version](/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/index.md)", "[Structured JSON version](/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/index.json)", "[Bundle manifest](/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/bundle-manifest.json)", "Published: April 14, 2020", "The Executive Board approved a disbursement under the Rapid Credit Facility (RCF) equivalent to SDR 84.12 million (about US$115.1 million, or 60 percent of quota).", "Approval date: April 14, 2020.", "The outbreak of COVID-19 and the drop in international oil prices are having a severe economic and social impact on Chad.", "These shocks could jeopardize gains achieved under the current Extended Credit Facility (ECF) arrangement.", "Economic activity has slowed down and large financing needs have emerged.", "The shocks include: COVID-19 outbreak, collapse in international oil prices, and a deteriorating security situation.", "The authorities have taken strong measures to halt the community spread of the virus.", "They are scaling up health-related spending and preparing a comprehensive economic plan to upgrade the health system and contain the economic impact of the pandemic.", "Authorities are considering a set of economic measures to support households and businesses.", "Given the sudden nature of the shocks, the authorities will be temporarily relaxing the fiscal deficit to:", "To safeguard debt sustainability, the authorities remain committed to the medium-term fiscal path and will implement needed adjustment measures as soon as the current crisis abates.", "The IMF’s support is intended to:", "Additional financial assistance from development partners is described as critical to support government mitigation efforts.", "Statement by Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, following the Executive Board discussion:", "IMF Communications Department, MEDIA RELATIONS", "PRESS OFFICER: Gediminas Vilkas", "Phone: +1 202 623-7100", "Email: MEDIA@IMF.org", "@IMFSpokesperson", "[https://www.imf.org/-/media/images/imf/bios/imfboard.jpg](https://www.imf.org/-/media/images/imf/bios/imfboard.jpg)", "[The Executive Board](https://www.imf.org/external/np/sec/memdir/eds.aspx)", "[Chad and the IMF](http://www.imf.org/external/country/TCD/index.htm)", "[Press Releases](https://www.imf.org/en/news/searchnews)", "[PRESS CENTER](http://presscenter.imf.org/)", "[https://www.imf.org/en/Topics/imf-and-covid19/COVID-Lending-Tracker](https://www.imf.org/en/Topics/imf-and-covid19/COVID-Lending-Tracker)", "[https://www.imf.org/external/NP/SEC/bc/eng/index.aspx](https://www.imf.org/external/NP/SEC/bc/eng/index.aspx)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/index.md", "json": "/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/index.json", "bundleManifest": "/en/news/articles/2020/04/15/pr20159-chad-imf-executive-board-approves-disbursement-to-address-covid-19/bundle-manifest.json" }, "generatedAtUtc": "2026-09-25T23:36:38.581Z" }