Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Afghanistan 03B 03B - Forbearance AFN
Arab Republic of Egypt 03B 03B - Forbearance EGP World Bank. (accessed 7 May 2020); IMF. (accessed 7 May 2020).

No amount/estimate: (i) 24 March 2020, The government also introduced a six-month extension for credit repayments targeting all individuals and businesses, as well as the waiving of late fines for such repayments; (ii) 27 March 2020, Mortgage financing companies, factoring and leasing companies mandated to give a six-month grace period to any client who asks; (iii) New debt relief initiative for individuals at risk of default has also been announced, that will waive marginal interest on debt under EGP1 million if customers make a 50% payment; (iv) Microlenders have been instructed to also consider delays on a case-by-case basis, of up to 50% of the value of monthly installments for struggling clients.

Argentina 03B 03B - Forbearance ARS Yale. (accessed 27 April 2020).

No amount/estimate: (i) Extended maturities for debt issued under the Debt Regulatization Regime of Law No. 27,541 to small and medium-sized enterprises (SMEs) and micro-SMEs until June 30, 2020; (ii) Required financial institutions to automatically refinance unpaid credit card balances with a one-year term with 3 months grace, 9 equal and consecutive monthly installments and an annual nominal rate of 43%; (iii) Suspended punitive interest charges on unpaid balances of credits granted by financial entities, whose installments were due between April 1, 2020 and June 30, 2020.

Armenia 03B 03B - Forbearance AMD
Australia 03B 03B - Forbearance AUD
Austria 03B 03B - Forbearance EUR Bundesministerium Finanzen. (accessed 04 June 2020); OECD. (accessed 15 April 2020).

No amount/estimate: Austrians are allowed to defer interest payments on bank loans. 2 June 2020, Extended the loan deferrals available for private and micro-enterprises by four months, which allows beneficiaries to defer repayment obligations for principal or interest payments without suffering legally.

Azerbaijan 03B 03B - Forbearance AZN IMF. (accessed 24 July 2020). CBA. (accessed 4 January 2021).

No amount/estimate: (i) 23 April 2020, The CBA announced a moratorium on late fees and interest rate penalties; (ii) 30 December 2020, Credit organizations were advised not to accrue additional penalty interest, penalties, and other penalties until 1 April 2021, as well as to submit negative information on borrowers to the credit bureau with a special note.

Bangladesh 03B 03B - Forbearance BDT Banglashesh Bank. (accessed 29 June 2020). IMF. (accesed 15 May 2020).

BB took measures to waive credit card fees and interests, suspend loan interest payments.

Belgium 03B 03B - Forbearance EUR Belgian Government. (accessed 19 November 2020); IMF. (accessed 30 July 2020).

No amount/estimate: Postponement of debt repayment due to banks and insurers by affected households and companies to 30 September 2020. As of 24 July 2020, this has been extended to end-December 2020. As of 11 November 2020, the Minister of Finance will extend, in consultation with the financial sector, the current moratorium for loans to companies.

Bhutan 03B 03B - Forbearance BTN/INR Official Statement from the Office of the Prime Minister of Bhutan. (accessed 29 April 2020); Royal Monetary Authority of Bhutan. (accessed 12 May 2020); IMF. (accessed 24 July 2020); PMO. (accessed 1 July 2020).

No amount/estimate: April 2020, Deferment of loans for 3 months (April–June 2020) (i) for all borrowers who had maintained their loan accounts in good standing, i.e., loans that were not non-performing loans (NPL) as of 29 February 2020; (ii) May 2020, The RMA announced that the interest waiver facility would also be extended to non-performing loan accounts. The government will finance 50% of the total interest payment and the financial institutions offered to support the other 50%. On 26 June 2020, the government announced to further extend interest waiver for another nine months for loans availed as of 10 April 2020 (see Measure 5B); (iii) 26 June 2020, the government announced a new monetary measure, i.e., deferment of loans for one year without penal interest. For borrowers willing and able to service their loans during this period, financial institutions offered to reduce the interest rate by one percentage point as an added incentive.

Brazil 03B 03B - Forbearance BRL Ministry of Economy (accessed June 25). IMF. (accessed 16 April 2020).

No amount/estimate: (i) Local firms affected by the crisis were granted a 3-month moratorium on bank loan repayments (principal and interest); (ii) Exporters’ inventory financing is being supported by extending maturities for existing and new export rediscount credits; (iii) Debt enforcement and bankruptcy proceedings (except in alimony cases) have been suspended; (iv) 23 June 2020, the Ministry of Economy suspends for up to 6 months payment to the Board of Trustees of the Severance Pay Fund (FGTS) from private urban public transport companies; the impact of suspended payments is approximately BRL51 million (entered in category 5B).

Brunei Darussalam 03B 03B - Forbearance BND 450,000,000 318,122,907 IMF. (accesed 1 May 2020); Autoriti Monetari Brunei Darussalam. (accessed 15 April 2020).

On 30 March 2020, the Ministry of Finance and Economy (MOFE) announced additional financial support measures amounting to an estimated total of BND250 million, effective April 1. This Economic Relief Package (i) extends the deferment on principal payments of financing or loan to all sectors, (ii) provides for the restructuring or deferment on principal repayment of personal loans and hire purchase such as car financing, for a period not exceeding 10 years, (iii) provides for the deferment on principal repayments of property financing, (iv) provides for the conversion of any outstanding credit card balances into term loans not exceeding 3 years for affected individuals in the private sector only (including the self-employed), and (v) waiver of all bank fees/charges related to these facilities (except third party charges). Coupled with the earlier fiscal assistance, these measures will increase the value of Brunei’s Economic Stimulus Package to a total of BND450 million (or 3.2% of GDP).

Cambodia 03B 03B - Forbearance KHR International Monetary Fund (IMF). (accessed 24 July 2020).

No amount/estimate: April 2020, The National Bank of Cambodia (NBC) has also issued guidelines to financial institutions on loan restructuring for borrowers experiencing financial difficulties (but still performing) in priority sectors (tourism, garments, construction, transportation and logistics).

Canada 03B 03B - Forbearance CAD Bank of Canada. (accessed 10 June 2020). Canada Department of Finance (accessed 1 July 2020).

(i) No amount/estimate: Mortgage Payment Deferral from the Canada Mortgage and Housing Corporation, in which interest on mortgage deferrals is added to the principal; (ii) Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75% for small businesses that have been affected by COVID-19. On 30 June 2020, CECRA was extended by one month to cover small business rents for July and, to simplify the application process, the government is removing the requirement to claw-back insurance proceeds and provincial rent supports from the CECRA forgivable loan amount for both existing and new applicants. This will provide important relief for small businesses that continue to experience financial hardship, and also allow property owners to maintain rental income and keep tenants in their commercial properties as the economy gradually restarts; (iii) No amount/estimate: Deferring payments for tourism operators on commercial leases and licenses of occupation.

Cook Islands 03B 03B - Forbearance NZD
Denmark 03B 03B - Forbearance DKK

(xxiii) No amount/estimate: June 4, Banned predatory mortgage loan providers, and created rules to facilitate settlement of those loans;

European Central Bank 03B 03B - Forbearance EUR
European Union 03B 03B - Forbearance EUR
Federated States of Micronesia 03B 03B - Forbearance USD
Fiji 03B 03B - Forbearance FJD
Finland 03B 03B - Forbearance EUR
France 03B 03B - Forbearance EUR
Georgia 03B 03B - Forbearance GEL IMF. (accessed 24 June 2020).

No amount/estimate: Bank loan service holidays for individuals was prolonged for 3 more months for those borrowers who asked for extension, now until 1 November 2020.

Germany 03B 03B - Forbearance EUR IMF. (accessed 21 May 2020); Federal Ministry of Economy and Energy. (accessed 12 July 2020); Die Bundesregierung. (accessed 19 September 2020).

No amount/estimate: (i) March 2020, A law suspended the obligation to file for insolvency for companies that have become ripe for bankruptcy as a result of the COVID-19 pandemic. The suspension expires on 30 September 2020. On 18 September 2020, The suspension was extended until 31 December 2020; (ii) May 2020, A payment moratorium on consumer loans established before 15 March is granted until 30 June if the debtor is financially affected by the COVID-19 crisis; (iii) 1 July 2020, New insolvency law making cheaper and easy to file for insolvency for companies and consumers; (iv) 7 July 2020, Improved financing conditions for new export transactions (e.g., reduced down payments and delayed repayments for certain transactions). This is part of the package of measures announced to support the export industry.

Hong Kong, China 03B 03B - Forbearance HKD IMF. (accessed 6 May 2020). HKMA. (accessed 14 August 2020). Reuters. (accessed 2 September 2020); HKMA. (accessed 5 February 2021).

No amount/estimate: Other measures by banks to the extent permitted by their risk management principles, including delay of loan payment, extension of loan tenors, and principal moratoriums for affected SMEs, sectors, and households as appropriate.This includes a pre-approved principal payment holiday for corporates and residential mortgages announced on 17 April 2020. On 5 August 2020, The HKMA announced a 90-day deferral of payments for trade facilities under the Pre-approved Principal Payment Holiday Scheme. On 2 September 2020, The HKMA extended the suspension of principal payments for small companies until 30 April 2021. On 29 January 2021, The HKMA together with the Banking Sector SME Lending Coordination Mechanism (Mechanism) announced a 90-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme (Scheme). Under the Scheme, which was launched in May last year, trade loans have been granted 90-day extension respectively in May, August and November last year. Some of these loans will start to fall due in February 2021. As the evolving COVID-19 pandemic continues to weigh on economic activities, some trade customers are still facing cash-flow pressure. The Mechanism has agreed that corporate customers in need can further extend their trade facilities for another 90-day period. Eligible corporate customers can also apply for a 90-day extension of trade facilities drawn down from November 2020 to end-January 2021. For facilities which are self-liquidating in nature, banks may require the loan to be settled when the underlying payment has been received by the customer [update]

India 03B 03B - Forbearance INR Press Information Bureau. (accessed 2 July 2020). RBI. (accessed 5 June 2020); IMF. (accessed 4 June 2020); RBI. (accessed 30 April 2020).

No amount/estimate: (i) The RBI provided relief to both borrowers and lenders, allowing companies a 3-month moratorium on loan repayments. This moratorium was extended to end August 2020; (ii) Provided subsidies to banks to reduce interest rates for short-term loans to farmers. On 4 June 2020, decided to continue the availability of 2% Interest Subvention (IS) and 3% Prompt Repayment Incentive (PRI) to farmers for the extended period of repayment up to 31 August 2020 or date of repayment, whichever is earlier, to prevent increases in interest rate during the extended moratorium period; (iii) 24 June 2020, Approved a scheme for interest subvention of 2% for a period of 12 months to all Shishu loan accounts under the Pradhan Mantri Mudra Yojana (PMMY). This scheme will only apply to certain loans that meet the criteria (e.g. outstanding as of 31 March 2020, not in Non-Performing Asset category).

Indonesia 03B 03B - Forbearance IDR
Ireland 03B 03B - Forbearance EUR
Islamic Republic of Iran 03B 03B - Forbearance IRR IMF. (accessed 6 May 2020).

No amount/estimate: (i) Central bank agreed with commericial banks to postpone payment of loans due on February 2020 by 3 months; (ii) offered penalty waivers for customers with non-performing loans.

Italy 03B 03B - Forbearance EUR 450,000,000 497,787,611 Invitalia. (accessed 18 April 2020); OECD. (accessed 15 April 2020).

(i) EUR50 million allocation for one-year suspension in repayment of loans to Invitalia (national development agency owned by the Ministry of Economy) to support SMEs in the most affected municipalities; (ii) EUR400 million for households, moratorium on debt payments, including mortgages.

Japan 03B 03B - Forbearance JPY
Kazakhstan 03B 03B - Forbearance KZT 360,000,000,000 873,256,519 IMF. (accessed 13 April 2020).

(i) No amount/estimate: No amount/estimate: The NBK and financial institutions have agreed to allow borrowers to defer debt repayments until mid-June at the latest, as well as refrain from charging penalties for borrowers affected by the emergency; (ii) 27 April 2020, More than 1.6 million citizens and 11,000 SMEs received deferral on loan payments in the amount of KZT360 billion.

Kiribati 03B 03B - Forbearance AUD
Kyrgyz Republic 03B 03B - Forbearance KGS
Lao PDR 03B 03B - Forbearance LAK
Luxembourg 03B 03B - Forbearance EUR Clifford Chance. (accessed 15 April 2020)

No amount/estimate: (i) The SNCI has announced the relaxation of repayment conditions for existing loans granted by it, suspending principal repayments for direct and indirect loans at the March 31 and June 30 maturities. The duration of all these financings will be automatically extended by 6 months; (ii) April, Commitment by Luxembourg banks to offer a 6-month moratorium on loans for SMEs, self-employed and liberal professionals.

Malaysia 03B 03B - Forbearance MYR 100,899,200,000 23,487,871,875 Prime Minister's Office of Malaysia. (accessed 19 April 2020); Bank Negara Malaysia. (26 June 2020). Malay Mail. (accessed 31 July 2020). 16th Laksana Report. (accessed 14 August 2020); Prime Minister's Office of Malaysia. (accessed 21 January 2021).

(i) 27 March 2020 in PRIHATIN: (a To assist SMEs and individuals, the Government welcomes the willingness of banking institutions to offer a 6-month moratorium, convert credit card balance to term loans and restructure corporate loans. This measure, amounting to MYR100 billion, is vital to enabling companies to retain employment and immediately resume their business activities. In return, the Government agrees that the bank’s income from interest or profit from loans or financing during the moratorium will only be taxable when the income is received after the moratorium period. 29 July 2020, The government has agreed to further extend the bank loan moratorium for the public. The targeted moratorium extension will run for three months but only for those who lost their jobs this year and are yet to find employment, after that period banks can further extend the help based on individual situation. As for those who are still employed but seen their wages reduced or affected owing to the COVID-19 pandemic, the amount of their monthly loan commitments would be reduced, in line with the quantum of their salary deduction; (b) The Government has previously agreed to defer the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) loan repayment for all borrowers for six months, amounting to MYR750 million; (c) The Government agrees to postpone loan repayment to borrowers of the Skills Development Fund Corporation (PTPK) for the same period beginning April 1 to September 30. With an estimated collection of MYR149.2 million, this initiative will benefit 174,500 borrowers; (ii) 18 January 2021 in PERMAI, No amount/estimate: (a) The moratorium facility, including extension of the moratorium and restructuring of loan repayment will continue to be offered by banks as announced previously. For flood-affected states, 15 banks have offered the loan repayment moratorium. For borrowers facing difficulties in dealing with banks, Bank Negara Malaysia and the Credit Counselling and Debt Management Agency (AKPK) are ready to assist and advise borrowers through the telephone or online; (b) For PTPTN borrowers affected by the COVID-19 pandemic or floods, they can apply for a three-month PTPTN loan repayment moratorium. Application for this moratorium can be made until 31 March 2021; (c) For MARA borrowers, MARA will continue its MARA PRIHATIN Peace of Mind 2.0 Program, where borrowers can apply to reschedule the repayment of MARA education loan facilities, or for business loan moratorium until 31 March 2021. In addition, MARA entrepreneurs affected by COVID-19, MCO and the floods can apply for the MARA business financing rescheduling program.

Maldives 03B 03B - Forbearance MVR Maldives Monetary Authority. (accessed 13 April 2020); IMF. (accessed 13 April 2020); Ministry of Finance. (accessed 28 August 2020). Ministry of Finance. (accessed 28 August 2020). Ministry of Finance (accessed 28 August 2020). Ministry of Finance. (accessed 28 August 2020). Ministry of Finance. (accessed 28 August 2020). The Edition. (accessed 28 August 2020). The edition. (accessed 11 September 2020).

No amount/estimate: April 2020, The Maldives Monetary Authority announced introducing regulatory measures to enable a moratorium of 6 months on loan repayments for those impacted by the current situation. Customers have to submit their requests to the banks in order to avail themselves of this moratorium. Debt moratoriums have been included in the Plan to support individuals, households, and businesses facing difficulties in meeting monthly debt repayment: (i) All loans from the Bank of Maldives are eligible for the debt moratorium from 1 March 2020 until end of September 2020. The debt moratorium will allow BML customers to defer monthly principal and interest repayments for 6 months. At the same time the tenor of the loan will also be extended by 6 months allowing more time to repay the accrued interest and principal repayments. Compound interest will not be charged during the moratorium period. Following the moratorium period, the repayment amount would be reduced by 20% for a further 6 months; (ii) Those liable to repay student loans by the National Student Loan Scheme and Educational Assistance Loan Scheme entered a 6-month period of debt deferment on 1 March 2020; (iii) Individuals with Housing Finance loans issued by Housing Development Finance Corporation (HDFC) had the option of applying for a 6-month debt moratorium, which started on 1st March 2020, under the condition that regular payments have been made. The debt moratorium allows HDFC customers to defer monthly principal and interest repayments for 6 months. Consequentially the initial loan periods would be extended by an additional 6 months; (iv) Bank of Maldives customers with business loans are eligible for the debt moratorium from 1 March 2020 until end of September 2020. The debt moratorium will allow customers to defer monthly principal and interest repayments for 6 months. At the same time the tenor of the loan will also be extended by 6 months allowing more time to repay the accrued interest and principal repayments. Following the moratorium period, the repayment amount would be reduced by 20% for a further 6 months; and (v) SME Development Financing Corporation (SDFC) customers will be eligible for a 6 months debt moratorium starting from 1st March 2020. The debt moratorium will allow customers to defer monthly principal and interest repayments for 6 months. Moreover, in the course of the moratorium period, interest rates for all loans are reduced to 4%. 26 August 2020, SDFC extended the repayment period for loans until the end of 2020. 9 September 2020, The Bank of Maldives opened its application for its second moratorium, for customers with personal, housing and business loan moratoriums with repayments due to start this September. The deadline of the repayments has been extended to December 2020. The Bank will also issue a separate announcement once the second moratorium application process is open for customers of BML's Islamic banking branch.

Marshall Islands 03B 03B - Forbearance USD
Mexico 03B 03B - Forbearance MXN
Mongolia 03B 03B - Forbearance MNT 663,000,000,000 240,520,759 IMF. (accessed 24 July 2020); Mongolian News Agency. (accessed 12 June 2020); Bank of Mongolia. (accessed 11 August 2020); BOM. (accessed 24 November 2020).

(i) No amount/estimate: 13 April 2020, The BOM allowed existing consumption loan borrowers to defer their principal and interest payments by up to 12 months; (ii) 12 June 2020, The government of Mongolia, together with the BOM and commercial banks, has approved decisions to make 6-month deferrals on consumer and business loan repayment and their interests for 90 days, and to extend the repayment of mortgage loans by six months. The BOM announced that commercial banks have allowed to defer repayment of mortgage loans worth MNT500 billion in total since the decision was issued; (iii) 7 August 2020, The Monetary Policy Committee decided to prolong the implementation of restructuring and extending the maturity on consumer loans for lenders experiencing difficulties in their loan repayments due to the current economic circumstances until 31 December 2020. 23 November 2020, This has been extended to 1 July 2021. Lending contracts of around 76,000 borrowers have been amended for issuance of consumer loans amounting to MNT663 billion (from the previous MNT500 billion).

Myanmar 03B 03B - Forbearance MMK