Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief

April 15, 2020

Preview Citation

Format: Chicago

Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief, (USA: International Monetary Fund, 2020) accessed December 3, 2024

Summary

This 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), in line with the new QPHD test approved by the Board on March 26. 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. Staff considers that the 25 members requesting CCRT assistance qualify for immediate CCRT relief.

Subject: Asset and liability management, Balance of payments, Balance of payments need, COVID-19, Debt relief, Debt service, External debt, Health

Keywords: 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

Publication Details

Pages:

187
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2020/022
Stock No:

PPEA2020022
ISBN:

9781513540603
ISSN:

2663-3493

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