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.
- Mozambique: IMF Executive Board Concludes 2022 Article IV Consultation and Approves US$456 Million Extended Credit Facility Arrangement (ECF). (May 9, 2022)
- Republic of Congo: IMF Executive Board Approves New US$455 Million Extended Credit Facility Arrangement. (January 21, 2022)
- Nepal: IMF Executive Board Approves US$395.9 Million ECF Arrangement. (January 12, 2022)
- Moldova: IMF Executive Board Approves Requests for Arrangements Under Extended Fund Facility and Extended Credit Facility. ( December 21, 2021)
News/Blogs
- Governments Need Agile Fiscal Policies as Food and Fuel Prices Spike (April 20, 2022)
- War Dims Global Economic Outlook as Inflation Accelerates (April 19, 2022)
- Restructuring Debt of Poorer Nations Requires More Efficient Coordination (April 7, 2022)
- Poor and Vulnerable Countries Need Support to Adapt to Climate Change (March 23, 2022)
- Pandemic Scars May be Twice as Deep for Students in Developing Countries (February 3, 2022)
- A Disrupted Global Recovery (January 25, 2022)
- Fragile and Conflict-Affected Economies Are Falling Further Behind (January 21, 2022)
Policy Papers
- Making Debt Work For Development and Macroeconomic Stability (April 26, 2022)
- 2022 Review of Adequacy of Poverty Reduction and Growth Trust Finances (April 21, 2022)
- The Managing Director’s Global Policy Agenda, Spring Meetings 2022 (April 20, 2022)
- Proposal To Establish A Resilience and Sustainability Trust (April 18, 2022)
- The IMF Strategy for Fragile and Conflict-Affected States (March 14, 2022)
- Review Of Temporary Modifications To The Fund’s Access Limits In Response To The Covid-19 Pandemic (December 23, 2021)
- More Policy Papers on Low-Income Issues
Research & Publications
- Public Debt and Real GDP: Revisiting the Impact (April 29, 2022)
- A Global Strategy to Manage the Long-Term Risks of COVID-19 (April 5, 2022)
- Household Vulnerability to Income Shocks in Emerging and Developing Asia: the Case of Cambodia, Nepal and Vietnam (April 1, 2022)
- Monetary Policy in Disaster-Prone Developing Countries (April 1, 2022)
- Climate Change in Sub-Saharan Africa Fragile States: Evidence from Panel Estimations (March 18, 2022)
- All Regional Economic Reports
Videos
Regional Economic Outlook for Sub-Saharan Africa (April 28, 2022)
Inflation Dynamics in a Fragile Global Economy (April 22, 2022)
IMF's Resilience and Sustainability Trust (RST) (April 19, 2022)
World Economic Forum's Panel Discussion on the Global Economic Outlook (January 21, 2022)
Perspectives on the Future of Africa in a Post-Pandemic World (December 15, 2022)
New Monetary Policy Tools for Emerging Market and Developing Economies (December 2, 2022)
Measuring Climate Change: Country Cases (November 18, 2021)
Tax Avoidance in Sub-Saharan Africa's Mining Sector (November 5, 2021)
Uncertainty and Restoring Confidence Following the Pandemic (November 5, 2021)
More Videos
Speeches
- Inequality and Macro Policy (April 28, 2022)
- Navigating the Economic Obstacle Course while Addressing Long-Term Challenges: The Role of IMF Capacity Development (April 28, 2022)
- Facing Crisis Upon Crisis: How the World Can Respond (April 14, 2022)
- Women’s Economic Inclusion and Participation As a Key to Building Peace (March 8, 2022)
- Pathway for a Resilient and Inclusive Recovery (February 3, 2022)
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.
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.
Learn More