Support for LICs
Questions and Answers:
Q1. What has the IMF done to help low-income countries during the coronavirus pandemic?
The IMF has acted with unprecedented speed and scale to support low-income countries during the pandemic. The Fund provided financial support to 53 of 69 eligible low-income countries in 2020 and in the first half of 2021, with about US$14 billion disbursed as zero percent interest rate loans from the Poverty Reduction and Growth Trust.
Most of this support was through the Fund’s emergency financing instruments—the Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI)—which provide immediate, one-time disbursements to countries facing urgent balance of payments needs. The Fund was able to respond to a record number of requests for financial assistance through a series of temporary access limit increases to the RCF and RFI, and temporary increases in the Poverty Reduction and Growth Trust (PRGT) overall access limits.
Factsheet: Fund Concessional Support for Low-Income Countries—Responding to the Pandemic, July 2021
Read MoreIMF Lending
The IMF is providing emergency financial assistance and debt relief to member countries facing the economic impact of the COVID-19 pandemic. The list of countries here shows emergency financing approved by the IMF’s Executive Board.
Selected few lending programs to the Low-Income countries from various regions are shown below.
- IMF Executive Board Approves US$372.4 Million Rapid Credit Facility Disbursement to Tanzania to Address the COVID-19 Pandemic. (November 13, 2021)
- IMF Executive Board Approves a US$76 Million Disbursement under the Rapid Credit Facility to Burundi to Address the COVID-19 Pandemic. (October 25, 2021)
- IMF Executive Board Approves US$567.25 Million in Emergency Support to Tanzania to Address the COVID-19 Pandemic. (September 7, 2021)
News/Blogs
- IMF MD’s Statement at the Paris Peace Forum on Increasing Support for Vulnerable Countries via SDR Rechanneling (November 11, 2021)
- Not Yet on Track: Climate Threat Demands More Ambitious Global Action (October 31, 2021)
- Joint Action Needed to Secure the Recovery (October 27, 2021)
- Seven Charts that Show Sub-Saharan Africa at a Crucial Point (October 26, 2021)
- Debt Service Relief for 24 Eligible Low-Income Countries (October 08, 2021)
Policy Papers
- Annual Update on SDR Trading Operations (October 26, 2021)
- Global Policy Agenda Annual Meetings 2021 (October 13, 2021)
- IMF Collaboration With The World Bank On Macro-Structural Issues (October 12, 2021)
- Catastrophe Containment and Relief Trust—Fourth Tranche of Debt Service Relief (October 8, 2021)
- Joint IMF-WBG Staff Note: DSSI Fiscal Monitoring Update (September 16, 2021)
- Managing Director's Statement on the IEO Report on Growth and Adjustment in IMF-Supported Programs (September 9, 2021)
- More Policy Papers on Low-Income Issues
Research & Publications
- Recovery During A Pandemic (October 12, 2021)
- Tax Avoidance in Sub-Saharan Africa’s Mining Sector (September 28, 2021)
- Opening Up: Capital Flows and Financial Sector Dynamics in Low-Income Developing Countries (September 24, 2021)
- Growth at Risk from Natural Disasters (September 17, 2021)
- Debt Dynamics in Emerging and Developing Economies: Is R-G a Red Herring? (September 7, 2021)
- All Regional Economic Reports
Videos
COVID-19 and Global Imbalances
From the Great Financial Crisis to the Great Lockdown, and Beyond (November 4, 2021)- Sub-Saharan Africa Regional Economic Outlook, October 2021 (October 29, 2021)
- What the pandemic means for government debt (October 24, 2021)
- Debt Dynamics (October 4, 2021)
- What the pandemic means for government debt (October 22, 2021)
- World Economic Outlook Update: Press Conference, July 27, 2021
Speeches
- Managing Director's Remarks at the Carbon Pricing Leadership Coalition Meeting at COP26 (November 2, 2021)
- Supporting Food Security in Sub-Saharan Africa amid the COVID-19 Pandemic and Climate Change (October 19, 2021)
- Building a Strong Post-Pandemic Recovery (October 11, 2021)
- Overcoming Divides and Removing Obstacles to Recovery (October 05, 2021)
- A New Agenda for Macro Stability (September 21, 2021)
Seminars
The Infrastructure Seminar series provides a forum for leading experts to share latest insights on key policy issues related to public infrastructure.
Past Seminars Developing Economies Seminars
A flagship seminar at the Fund, the Developing Economies Seminar Series focuses on topical policy issues for developing countries and is a platform for economists to discuss and share their knowledge, with a strong policy angle.
Past Seminars FCDO/IMF Project
The IMF has partnered with the UK's Foreign, Commonwealth and Development Office (FCDO) to study critical macroeconomic policy issues in low-income countries to promote sustainable and inclusive growth in low-income countries.
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