{
  "title": "Mali: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali",
  "publication": "IMF Staff Country Reports, May 8, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/05/07/mali-requests-for-disbursement-under-the-rapid-credit-facility-and-rephasing-of-access-under-49399",
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  "summary": "This paper discusses Requests for Disbursement Under the Rapid Credit Facility (RCF) and Rephasing of Access Under the Extended Credit Facility (ECF) Arrangement. The coronavirus disease 2019 (COVID-19) shock hit the economy hard amid an already challenging social and security situation.",
  "sections": [
    {
      "heading": "Overview and economic impact",
      "content": "- Discusses Requests for Disbursement Under the Rapid Credit Facility (RCF) and Rephasing of Access Under the Extended Credit Facility (ECF) Arrangement.\n- The coronavirus disease 2019 (COVID-19) shock hit the economy hard amid an already challenging social and security situation.\n- The decline in economic activity, spillovers from global trade and financing shocks, along with fiscal measures to combat the crisis have created an urgent balance-of-payments and fiscal financing needs."
    },
    {
      "heading": "Authorities' and regional responses",
      "content": "- The authorities responded quickly to the pandemic with containment measures, stepped up healthcare response, and emergency measures to support households and business affected by the outbreak.\n- The regional central bank responded with measures to support liquidity in the banking system."
    },
    {
      "heading": "IMF assessment, support, and conditionality",
      "content": "- Given the urgent balance of payment need caused by the COVID-19 pandemic and the infeasibility of completing a review under the ECF arrangement, staff supports these requests.\n- Staff welcomes commitments to safeguard transparency and accountability in the use of emergency funds.\n- The RCF is expected to cover about 40 percent of the financing gap in 2020 and is expected to play a catalytic role.\n- The authorities are actively engaged with other donors, including the World Bank, to cover the remaining financing needs."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: COVID-19, Credit, Debt service, External debt, Financial sector policy and analysis, Health, Money, Public debt, Revenue administration, Stress testing\n- Keywords: COVID-19, CR, Credit, Debt service, emergency financing request, financing, financing gap, financing needs, Global, IMF lending tracker, ISCR, RCF disbursement, Stress testing, West Africa\n\nInternational Monetary Fund. African Dept. \"Mali: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali\", IMF Staff Country Reports 2020, 153 (2020).\n\n---\n\n Content in this bundle\n\n- 1mliea2020002\n  - 1mliea2020002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1mliea2020002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 8, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513543079.002",
    "Discusses Requests for Disbursement Under the Rapid Credit Facility (RCF) and Rephasing of Access Under the Extended Credit Facility (ECF) Arrangement.",
    "The coronavirus disease 2019 (COVID-19) shock hit the economy hard amid an already challenging social and security situation.",
    "The decline in economic activity, spillovers from global trade and financing shocks, along with fiscal measures to combat the crisis have created an urgent balance-of-payments and fiscal financing needs.",
    "The authorities responded quickly to the pandemic with containment measures, stepped up healthcare response, and emergency measures to support households and business affected by the outbreak.",
    "The regional central bank responded with measures to support liquidity in the banking system.",
    "Given the urgent balance of payment need caused by the COVID-19 pandemic and the infeasibility of completing a review under the ECF arrangement, staff supports these requests.",
    "Staff welcomes commitments to safeguard transparency and accountability in the use of emergency funds.",
    "The RCF is expected to cover about 40 percent of the financing gap in 2020 and is expected to play a catalytic role.",
    "The authorities are actively engaged with other donors, including the World Bank, to cover the remaining financing needs.",
    "Subject: COVID-19, Credit, Debt service, External debt, Financial sector policy and analysis, Health, Money, Public debt, Revenue administration, Stress testing",
    "Keywords: COVID-19, CR, Credit, Debt service, emergency financing request, financing, financing gap, financing needs, Global, IMF lending tracker, ISCR, RCF disbursement, Stress testing, West Africa",
    "**1mliea2020002**"
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