Meanwhile,the remaining states are placed under the RMCO. To help provide critical resources for health and social protection programs, the IMF Board on April 23, 2020 granted to Mauritania an emergency financing of SDR 95.68 million (about $130 million) under the Rapid Credit Facility. To increase public willingness to vaccinate, the authorities have also provided regular updates on potential side effects of Covid-19 vaccinations. More than 50,000 people have been vaccinated as at end March. From June 24, the maximum number of persons at gathering has been increased gradually. By end-January 2021, COVAX/GAVI confirmed the allocation of 17.2 million doses of the AstraZeneca vaccine to Pakistan, 6 million doses of which were scheduled to arrive to Pakistan by mid-March, and the rest by June 2021. On May 8, 2020, the Prime Minister ordered to reopen businesses. Spain has been heavily affected by the COVID-19 outbreak, with the first infection case detected on February 25, 2020. The ECB considers that the appropriate release of the countercyclical capital buffer (CCyB) by the national macroprudential authorities will enhance its capital relief measures. Our Awards. Starting April 24, 2020, the authorities have begun gradual reopening of shopping centers and other businesses, subject to social distancing requirements, and began facilitating a voluntary repatriation of expatriate workers. In 2020, the RBZ introduced a ZWL$5 billion medium-term bank accommodation lending facility at 10 percent per annum and increased the private sector lending facility from ZW$1 billion to ZW$2.5 billion. On March 18, the Central Bank of Oman (CBO) announced a set of policy measures effective immediately to support the financial sector and estimated its impact in terms of additional liquidity at OR 8 billion (US$ 20.8 billion). The central bank resumed repo operations of Brazilian sovereign bonds denominated in US dollars, having released US$9 billion into the money market. The per capita fatality rate remains amongst the highest in the world. After the National Cabinet announced a three-step plan on May 8 to relax COVID-19 restrictions, States and Territories eased regional containment measures. The HPA announced on April 1 the easing of some restrictions that were put in place on February 2 in the Greater Malé area, ahead of the holy month of Ramazan and the Local Council and Women's Development Committee elections. Thus far, the ceasefire agreement appears to be holding, although there is the real risk that it may be undermined by a number of militias and forces that were excluded from the negotiations. Reopening the economy. Following a reduction in the infection rate from end-July to end-September 2020, CMR is experiencing a resurgence since late 2020 and a spike in new COVID-19 cases since January 2021. , but with a reduced fatality rate. More recently, the Council of Ministers instructed the Ministry of Education to reopen schools and higher learning institutions in an announcement made on September 18. International flights and cross-border travel by buses resumed on October 1. The government also plans to allocate additional FCFA 108 billion (USD 194.1 million or 1.2 percent of GDP) as an economic response, including through food stamps, electricity and water subsidies, direct support to SMEs and tax holidays. Further, a temporarily suspension of dividends or bonuses was applied to all banks, although the restriction on bonuses was relaxed at end-2020. On February 17, the FC announced to increase the size of the hardship support program from CHF5 billion to CHF10 billion, including CHF3 billion dedicated to help larger firms previously not covered by the program. The sale of alcohol is still restricted, and a curfew remains in place. Points négatifs : "I booked tickets via Delta, operated by KLM. On May 15 (2020), the government adopted a further €55 billion (3.5 percent of GDP) “Relaunch” package of fiscal measures. The Pandemic Unemployment Payment—a payment available to those who have lost employment due pandemic at a flat rate of €350 per week. The NBT recommended the banks to consider restructuring (i.e extending maturity) loans that face temporary hardship. International travel restrictions remain in place for all but 35 countries. The CBG is also actively monitoring developments in the financial sector. On May 15, this program was extended to end-2020, and collateral requirements were removed to improve access for (V)SMEs.Some 50,000 companies have benefitted from this facility, for a total outstanding amount of 1.6 percent of GDP. BNM also announced relief measures for insurance policy holders and takaful participants. Malta reported its first confirmed case of COVID-19 on March 7, 2020. The government has generally relaxed confinement measures since May. A second, more virulent wave of the Covid-19 pandemic has started in February 2021. BSS also reiterated that the South Sudanese Pound (SSP) is the only legal tender of domestic debt payments and encouraged banks to restructure loans if needed. MMLF and PPPLF facilities will not lead to additional regulatory capital The first confirmed COVID-19 case was reported on March 3, 2020. On March 29, a three-day lockdown was introduced in Brisbane following a local outbreak. Solvent credit or other financial institutions—including payment and electronic money institutions, management companies and insurance undertakings—which are facing temporary liquidity problems can apply to the Bank of Lithuania for emergency liquidity assistance in the form of loans provided at the European Central Bank’s Marginal Lending Facility rate. A gradual easing of lockdown measures was introduced on May 4, with selected businesses allowed to resume operations while adhering to health guidelines. Through this special window banks shall be able to refinance all bonds with maturity of 3 years or more governments currently plan to issue on the regional financial market in 2021. The proposed bill should enable government to promptly and effectively respond to a potential public health threat within Solomon Islands. By end-November 2020, total COVID-19 related expenditure was A$6.77 million (about 10% of GDP) of which health-related expenditure was A$1.88 million. Net inflows of COVID-19 cases have recently edged up. On April 2, The World Bank approved a US$ 10 million grant for the COVID-19 Response and Preparedness Project to enhance case detection, tracing, prevention, and social distancing communication as well as the provision of equipment to isolation and treatment centers. On January 14, due to the spread of Covid-19 variant in several countries, the authorities banned flights from the affected countries, including Portugal in an attempt to prevent the spread of the new variant. There have been no deaths so far. A range of measures were implemented to contain the spread of the virus, including closure of international airports, public and private schools, universities, stores and markets, and suspension of public gatherings. 60 billion (over 8.8 percent of GDP) in liquidity assistance (backed by government guarantees) to support lending and the payments chain, which expired on October 2020 (Reactiva Peru). On June 23, the authorities announced additional measures, including a three-month extension of some measures initially planned till end-June. On August 28, the government announced the third support package which primarily aims at expanding and adjusting measures already in place on the expenditure side through June 2021. Also on November 18, the FC amended the ordinance on proximity tracing, to further facilitate Covid-19 contact tracing through the SwissCovid app. However, some delays in implementation occurred, particularly with regards to the provision of loan guarantees. Adolescents and young adults up to the age of 20 could take up most of the sporting and cultural activities again. The Ministry of Finance estimated that approximately VND 12.8 trillion (nearly 36 percent of total package value) was disbursed as of December 31, 2020 to the beneficiaries under this Resolution. New credit guarantees and micro-loans for entrepreneurs estimated at PLN 74 billion (3.3 percent of GDP) were also approved. On April 10, 2020, the Companies Commission of Malaysia announced measures to enhance protection of distressed companies against liquidation. Revenues are likely to remain low for a prolonged period, albeit recovering somewhat recently, reflecting both a lower profile for oil prices and a decline in production, following the OPEC+ agreement. Gatherings involving more than 50 people require prior approval. Key measures from the EU Budget (about €37 billion and 0.3 percent of 2019 EU27 GDP) include (i) establishing the Coronavirus Response Investment Initiative (CRII) and the Coronavirus Response Investment Initiative Plus (CRII+) in the EU budget to support public investment for hospitals, SMEs, labor markets, and stressed regions; (ii) extending the scope of the EU Solidarity Fund to include a public health crisis, with a view of mobilizing it if needed for the hardest-hit EU Member States (up to €800 million is available in 2020); (iii) redirecting €1 billion from the EU Budget as a guarantee to the European Investment Fund to incentivize banks to provide liquidity to SMEs and midcaps; (iv) announcing credit holidays to crisis-affected debtors; and (v) adopting a proposal for a €3 billion macro-financial assistance (MFA) package to ten enlargement and neighborhood partners to help them limit the economic fallout of the coronavirus pandemic. Due to the persistence and the eminently pathogenic and contagious nature of Covid-19, the Government has decided on January 5, 2021 to extend the state of emergency for a further period of three months from January 08, 2021. The external position is weakening on the back of falling tourism receipts and lower exports. On April 27, Heads of States of the West-Africa Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU growth and stability Pact setting six convergence criteria, including the 3 percent of GDP fiscal deficit rule. These include: a ban on entertainment; gatherings limited to 10 or fewer people (except for activities for which there is a protocol); curfew from 11pm to 5am (except Saturday-Sunday when the curfew is from 9pm to 5am); funerals and religious gatherings are allowed only if following capacity guidelines; outdoor recreation may take place in strict compliance with the applicable protocols; public transport must follow the applicable protocols; restaurants may open for takeout or delivery,and indoor dining is allowed under strict observance of the applicable protocols. The easing of restrictions in June led to a rebound in activity in Q3:2020, with GDP increasing about 3 percent on a sequential seasonally adjusted basis. The previous government took a series of measures to prevent the spread of the virus, including a generalized lockdown, entailing the temporary closure of many businesses, border closure, suspension of schools, and postponed the general elections scheduled initially on May 3. Similarly, the budget includes cuts to the service turnover tax, environmental tax and departure tax. Reopening of the economy. As of March 31, about 1.4 percent of Indonesia population had received second dose of COVID-19 vaccines, and 2.7 percent at least one dose. On December 2, EBA reactivated The authorities have prepared a public-health related plan that describes the measures to be taken to minimize risks from pandemics. In March, the government declared a state of emergency throughout the country, closed schools and universities, shuttered restaurants and shops, suspended public transportation, banned public gatherings, and imposed severe restrictions on the movement of people. On June 12, the Diet approved an amendment of the Act on Special Measures for Strengthening Financial Functions, which extends the deadline for regional banks’ application to government capital injection from March 31, 2022 to March 31, 2026, and provides for relaxed application conditions for those regional banks affected by COVID-19. The new refinancing window is expected to remain in place for the term of the eligible bonds issued in 2021. National co-financing of EU-funded measures at the amount of BGN 168 mn. The government closed the reception for new ESP applications on September 15, 2020, and for new SME Grant applications on November 30, 2020. An additional lump-sum payment of AzN 190 was paid once to the individuals who received social assistance under the April 4 relief package. Citizens should maintain social distance, wear a face mask in places of collective use, and sanitize their hands when entering public buildings. Background. In response, the government has announced measures to limit the spread of the virus including travel restrictions(including quarantine requirements, suspension of visa issuances and international flights), closure of several land borders, and bans on mass public gatherings. Currently, announced discretionary fiscal support amounts to DKK 117.6 billion (5.1 percent of 2020 GDP) and includes increased spending for additional health care needs and extraordinary budgetary measures to support workers and businesses that have been extended in the wake of the second wave.Temporary liquidity measures, including postponement of tax payments. Federal funds rate were lowered by 150bp in March to 0-0.25bp. Up to 10 percent of FY 2019/20 initial budget expenditure (excluding those implemented by foreign loans and grants) of each ministry has been re-allocated to fight against COVID-19.In addition, unspent expenditures were also returned to the General Reserve Fund (GRF). Hardware, plumbing and electrical stores could operate from 6am to 5pm, while public transportation was permitted to continue operating at 50 percent capacity. The authorities encouraged less inter-city travel during the 2021 lunar new year holiday, while imposing strict testing and quarantine requirements. The first package, the “Bayanihan I” Act, was signed into law in March and provided fiscal support of about 2.1 percent of 2020 GDP, including: (1) cash aid program of about PHP 211 billion (1.2 percent of 2020 GDP) for over 32 million low-income households; (2) social protection measures of about PHP 65 billion for vulnerable workers and micro-, small-, and medium-size enterprises (MSMEs) (about 0.36 percent of 2020 GDP); (3) COVID 19 related medical responses of about PHP 49 billion (around 0.3 percent of 2020 GDP); and (4) assistance to local governments of about PHP 37 billion (about 0.2 percent of 2020 GDP). With the mid-July surge in the number of new Covid-19 infections, the presidency announced another 21-day public emergency regulation, effective August 6, 2020. The third phase started on June 9 allowing reopening of airports, shopping malls, ports facilitating cruise ships, the interior areas of restaurants and hotels, theaters and open-air cinemas. Even though the country has not proceeded with the full reopening of private activities, the Ministry of Public Administration ordered that all public sector agencies resumed their activities at full capacity wherever physical conditions allow. It includes provisions amounting to 70bn dinars to mitigate the health and economic impacts of the COVID-19 crisis. The vaccines are expected to arrive in mid- March 2021 and will be given to health workers and elderly in priority. Government coverage falls to 70 percent of wages in September (up to £2,187) and 60 percent in October (up to £1,875) with employers required to contribute the difference to 80 percent of wages (up to £2,500). The Democratic Republic of Congo (DRC) declared its first case of COVID-19 on March 10, 2020, and the virus continues to spread across the country with thousands of confirmed cases and hundreds of deaths. On May 17, the Prime Minister announced the following measures: (i) extension of the deadline for filing of personal and corporate income tax returns; (ii) extension of three months for payment of corporate income tax; (iii) Waiving penalties for businesses that enter into payment plans within 6 months of the new payment deadline; (iv) reduction in the corporate income tax rate (from 25 percent to 17 percent) to companies which commit to continue to employ at least 80 percent of their staffing as of January 1, 2020, for a period of 12 months; (v) reduction to zero percent in the import duty and the value-added tax charged on disinfectants, cleaning supplies, protective gears and face masks; (vi) increased budgetary funding to the Ministries of Health and Agriculture; (vii) cash grants to approximately 2,500 individual crop farmers, based on the size of the farmers holding; (viii) implementation of multiple infrastructure projects with expenditure of up to US$100 million, with total additional investments in construction expected to amount to at least US$296.8 million; (ix) pay to small contractors and merchants with amounts owed by the Government of EC$100,000 and less, utilizing the resources approved by the IMF under the Rapid Credit Facility (RCF); and (x) income support for the period April-June 2020 for heads of families and single persons who are currently unemployed. Measures include (i) wage subsidies (with an expanded list of eligible sectors); (ii) one-off support to the vulnerable population; (iii) tax deferrals; (iv) support for new employment; (v) one-off support for firms to implement e-fiscalization; (vi) domestic travel vouchers for health and education workers; and additional measures for the tourism, catering, and agriculture and fisheries sectors. The National Bank of Ukraine (NBU) has approved a set of anti-crisis measures to support banks and the economy, when tougher restrictive measures are introduced, including a stricter quarantine regime (from January 8 to 24 2021). Background. This would allow a more flexible approach to border restrictions. A special COVID-19 account, dedicated to financing the national response plan to the pandemic, has been created and is governed by a circular issued by the Minister of Finance. The total number of confirmed infections as of March 31, 2021 stood at 9,374 with 654 active cases and 85 deaths. It later cut the base rate and kept it at 9 percent to support activity. On June 15, the government announced it will extend the deadline of submitting Individual Income Tax returns from June 30 to September 30 (not the payment of taxes due, which is still June 30). Dubai reopened to international tourists on July 7, 2020. In August 2020, the lending term of the TLF was extended to 5 years and the facility was extended to February 1, 2021. COVID-19 tests will be free for Ghanaian citizens. In addition, federal student loan obligations have been suspended for 60 days. Reopening of the economy. Shopping malls reopened on May 8 and kindergartens on May 11 and commercial flights have resumed since in mid-May. Self-employed, contractors and small businesses (Ltd) were able to apply for a lump sum of CZK 500 per day for the period between Oct 5 and 15 Feb 2021. Vaccinations, supported by the WHO COVAX program, began on March 15, 2021. They promised to give me compensation of hotel stay, food and travel if complete online form. After some relaxation of measures, restrictions were tightened again in late-March as infections picked up steeply. However, as countries reopened in the fall, infection rates picked up again, requiring re-introduction of containment measures ranging from lockdowns and travel restrictions to school closures and bans on large gatherings. On March 14, SAMA announced a SAR 50 billion ($13.3 billion, 2 percent of GDP) package to support the private sector, particularly SMEs, by providing funding to banks to allow them to defer payments on existing loans and increase lending to businesses. The CBS cut the policy rate by 100 bps again to 3 percent, effective of July 1. The output of domestically-oriented sectors (i. e. excluding manufacturing and ICT) fell by 9.5 percent in 2020, with agriculture least affected at -1.6 percent and entertainment and arts the most (at -54 percent), followed by hotels and restaurants. Schools and universities have reopened on March 2, 2021 except in that Hai Duong province which is reopened today. Individuals with residential, commercial and industrial property loans who are unable to resume making full loan repayments can apply to make reduced instalment payments pegged at 60 percent of their monthly instalment, and eligible SMEs may opt to defer 80 percent of principal payments on secured loans. In addition, VAT has been reduced on certain goods (e.g. As a solidarity measure, the salaries of better-paid public officials are being reduced by up to 20 percent, with the savings directed to the newly-established Coronavirus Fund. Ninety minutes of exercise were allowed during the week from 6am to 6pm in open public spaces. For monetary policy at the currency union level, please see Euro Area page. Following a first extension of key existing schemes in June, though more targeted at hard-hit sectors and vulnerable groups, the federal and regional governments have announced additional support in response to the re-imposition of restrictions from mid-October. Separately, the Commonwealth government has committed to spend an additional amount of A$16.6 billion (0.8 percent of GDP) to secure access to COVID-19 vaccines, roll out a national Vaccination Program, strengthen the health system, and protect vulnerable people, including those in aged care, from the outbreak of COVID-19. Covid-19 vaccinations commenced on December 28, 2020, with over 8 million people vaccinated with at least one dose as of end-March 2021. On April 30, the National Assembly passed the second 2020 supplementary budget. 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