{
  "title": "IMF Financing and Debt Service Relief",
  "sourceUrl": "https://www.imf.org/en/topics/imf-and-covid19/covid-lending-tracker",
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  "summary": "IMF COVID-19 Emergency Financial Assistance",
  "authors": [
    "Countries Notes"
  ],
  "sections": [
    {
      "heading": "Overview",
      "content": "- Tracker covers IMF COVID-19 financial assistance and debt service relief for member countries from March 2020 through March of 2022. The information has been archived and will no longer be updated.\n- Last Updated on March 9, 2022.\n- The IMF is currently making about $250 billion, a quarter of its $1 trillion lending capacity, available to member countries.\n- As part of the COVID19-related rapid arrangements, borrowing countries have committed to undertake governance measures to promote accountable and transparent use of these resources."
    },
    {
      "heading": "Aggregate financial assistance and debt relief totals",
      "content": "- Total Financial Assistance for 90 Countries: SDR 122,642.5 million / US$ 170,570.29 million\n- Debt service relief total (CCRT): SDR 689.58 million / US$ 965.29 million\n- CCRT tranche breakdown (Total Debt Relief for 31 Countries):\n  - 1st Tranche: SDR 183.12 million / US$ 251.24 million\n  - 2nd Tranche: SDR 168.40 million / US$ 237.46 million\n  - 3rd Tranche: SDR 168.07 million / US$ 238.05 million\n  - 4th Tranche: SDR 87.94 million / US$ 123.95 million\n  - 5th Tranche: SDR 82.05 million / US$ 114.59 million"
    },
    {
      "heading": "Regional totals of approved emergency financing (as presented)",
      "content": "- Asia and Pacific (selected countries total): Total Amount Approved — SDR 1,890.02 million / US$ 2,622.78 million\n- Europe (selected countries total): Total Amount Approved — SDR 4,819.1 million / US$ 6,676.93 million\n- Middle East and Central Asia (selected countries total): Total Amount Approved — SDR 12,312.37 million / US$ 17,021.28 million\n- Sub-Saharan Africa (selected countries total): Total Amount Approved — SDR 18,551.9 million / US$ 25,934.24 million\n- Western Hemisphere (selected countries total): Total Amount Approved — SDR 85,069.11 million / US$ 118,315.06 million"
    },
    {
      "heading": "Selected country-level highlights (examples of instrument and amounts)",
      "content": "- Bangladesh: Rapid Credit Facility (RCF) SDR 177.77 million; Rapid Financing Instrument (RFI) SDR 355.53 million — US$ 244 million; US$ 488 million — Date of Approval: May 29, 2020\n- Chile: Flexible Credit Line (FCL) — SDR 17,443 million / US$ 23,930 million — Date of Approval: May 29, 2020\n- Mexico: Flexible Credit Line Arrangement (FCL) — SDR 35,650.8 million / US$ 50,000 million — Date of Approval: November 19, 2021\n- South Africa: Rapid Financing Instrument (RFI) — SDR 3,051.2 million / US$ 4,300 million — Date of Approval: July 27, 2020\n- Nigeria: Rapid Financing Instrument (RFI) — SDR 2,454.5 million / US$ 3,400 million — Date of Approval: April 28, 2020\n- Pakistan: Rapid Financing Instrument (RFI) — SDR 1,015.5 million / US$ 1,386 million — Date of Approval: April 16, 2020\n- Sudan: Extended Credit Facility (ECF) — SDR 1,733.05 million / US$ 2,472.7 million — Date of Approval: June 29, 2021\n- Ghana: Rapid Credit Facility (RCF) — SDR 738 million / US$ 1,000 million — Date of Approval: April 13, 2020\n- Ecuador: Rapid Financing Instrument (RFI) SDR 469.7 million; Extended Fund Facility (EFF) SDR 4,615 million — US$ 643 million; US$ 6,500 million — Dates of Approval: May 1, 2020; September 30, 2020\n- Peru: Flexible Credit Line (FCL) — SDR 8,007 million / US$ 11,000 million — Date of Approval: May 28, 2020\n\n(Note: country-level entries above are illustrative selections from the list of approved financings and preserve the instruments, SDR amounts, US$ equivalents, and dates as presented.)"
    },
    {
      "heading": "CCRT debt service relief — design and implementation notes",
      "content": "- CCRT provided debt service relief for eligible IMF debt service falling due during these periods:\n  - 1st tranche: April 14 through October 13, 2020\n  - 2nd tranche: October 14 through April 13, 2021\n  - 3rd tranche: April 14 through October 15, 2021\n  - 4th tranche: October 16, 2021 through January 10, 2022\n  - 5th tranche: January 11, 2022 through April 13, 2022\n- Not all eligible countries received amounts in every tranche because some did not have IMF debt service falling due in the tranche periods. Given the lack of clarity within the international community regarding the recognition of the government in Afghanistan, the 4th and 5th tranches of debt relief for Afghanistan were not approved."
    },
    {
      "heading": "Operational and policy points emphasized",
      "content": "- The IMF mobilized sizable emergency financing across its instruments (RCF, RFI, ECF, EFF, SBA, FCL, PLL, SCF) to address COVID-19 shocks.\n- The IMF paired rapid COVID-19-related financing with governance commitments by borrowing countries to promote accountable and transparent use of resources.\n- Aggregate US$ amounts are presented for illustrative purposes and amounts were calculated using the SDR/US$ exchange rate of the day of approval."
    }
  ],
  "bullets": [
    "Tracker covers IMF COVID-19 financial assistance and debt service relief for member countries from March 2020 through March of 2022. The information has been archived and will no longer be updated.",
    "Last Updated on March 9, 2022.",
    "The IMF is currently making about $250 billion, a quarter of its $1 trillion lending capacity, available to member countries.",
    "As part of the COVID19-related rapid arrangements, borrowing countries have committed to undertake governance measures to promote accountable and transparent use of these resources.",
    "Total Financial Assistance for 90 Countries: SDR 122,642.5 million / US$ 170,570.29 million",
    "Debt service relief total (CCRT): SDR 689.58 million / US$ 965.29 million",
    "CCRT tranche breakdown (Total Debt Relief for 31 Countries):",
    "Asia and Pacific (selected countries total): Total Amount Approved — SDR 1,890.02 million / US$ 2,622.78 million",
    "Europe (selected countries total): Total Amount Approved — SDR 4,819.1 million / US$ 6,676.93 million",
    "Middle East and Central Asia (selected countries total): Total Amount Approved — SDR 12,312.37 million / US$ 17,021.28 million",
    "Sub-Saharan Africa (selected countries total): Total Amount Approved — SDR 18,551.9 million / US$ 25,934.24 million",
    "Western Hemisphere (selected countries total): Total Amount Approved — SDR 85,069.11 million / US$ 118,315.06 million",
    "Bangladesh: Rapid Credit Facility (RCF) SDR 177.77 million; Rapid Financing Instrument (RFI) SDR 355.53 million — US$ 244 million; US$ 488 million — Date of Approval: May 29, 2020",
    "Chile: Flexible Credit Line (FCL) — SDR 17,443 million / US$ 23,930 million — Date of Approval: May 29, 2020",
    "Mexico: Flexible Credit Line Arrangement (FCL) — SDR 35,650.8 million / US$ 50,000 million — Date of Approval: November 19, 2021",
    "South Africa: Rapid Financing Instrument (RFI) — SDR 3,051.2 million / US$ 4,300 million — Date of Approval: July 27, 2020",
    "Nigeria: Rapid Financing Instrument (RFI) — SDR 2,454.5 million / US$ 3,400 million — Date of Approval: April 28, 2020",
    "Pakistan: Rapid Financing Instrument (RFI) — SDR 1,015.5 million / US$ 1,386 million — Date of Approval: April 16, 2020",
    "Sudan: Extended Credit Facility (ECF) — SDR 1,733.05 million / US$ 2,472.7 million — Date of Approval: June 29, 2021",
    "Ghana: Rapid Credit Facility (RCF) — SDR 738 million / US$ 1,000 million — Date of Approval: April 13, 2020",
    "Ecuador: Rapid Financing Instrument (RFI) SDR 469.7 million; Extended Fund Facility (EFF) SDR 4,615 million — US$ 643 million; US$ 6,500 million — Dates of Approval: May 1, 2020; September 30, 2020",
    "Peru: Flexible Credit Line (FCL) — SDR 8,007 million / US$ 11,000 million — Date of Approval: May 28, 2020",
    "CCRT provided debt service relief for eligible IMF debt service falling due during these periods:",
    "Not all eligible countries received amounts in every tranche because some did not have IMF debt service falling due in the tranche periods. Given the lack of clarity within the international community regarding the recognition of the government in Afghanistan, the 4th and 5th tranches of debt relief for Afghanistan were not approved.",
    "The IMF mobilized sizable emergency financing across its instruments (RCF, RFI, ECF, EFF, SBA, FCL, PLL, SCF) to address COVID-19 shocks.",
    "The IMF paired rapid COVID-19-related financing with governance commitments by borrowing countries to promote accountable and transparent use of resources.",
    "Aggregate US$ amounts are presented for illustrative purposes and amounts were calculated using the SDR/US$ exchange rate of the day of approval.",
    "**Governance Commitments in Covid 19 Rapid Instruments as of 10 18 2021**"
  ],
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  "generatedAtUtc": "2026-10-01T18:21:43.934Z"
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