Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Brunei Darussalam 01 01 - Liquidity Support BND
Brunei Darussalam 01A 01A - Short-term lending BND
Brunei Darussalam 01B 01B - Support policies for short-term lending BND
Brunei Darussalam 01C 01C - Forex operations BND
Brunei Darussalam 04 04 - Equity support BND
Brunei Darussalam 12 12 - Non-Economic Measures BND IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 May 2020, 14 May 2020).

(i) The government is actively responding to the risks of the pandemic from spreading further by implementing a range of measures, including strict inbound and outbound travel restrictions and banning all mass gatherings, including weddings and sporting events; and (ii) The Ministry of Health (MOH) is also stepping up efforts to track close contacts of positive cases; (vi) MOH actively rolling out a contact tracing app (“BruHealth”) for residents to download before they are given the green light to visit public places.

Cambodia 01 01 - Liquidity Support KHR
Cambodia 01A 01A - Short-term lending KHR
Cambodia 01B 01B - Support policies for short-term lending KHR International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

No amount/estimate: April, The National Bank of Cambodia (NBC) announced that there will be a lowering of required reserves that banking and financial institutions must maintain at the NBC both for local (riel) and foreign currencies.

Cambodia 01C 01C - Forex operations KHR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

No amount/estimate: April, Cambodia continues to maintain a managed floating exchange rate.

Cambodia 04 04 - Equity support KHR
Cambodia 12 12 - Non-Economic Measures KHR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

April: (i) The government has announced foreigners wishing to travel to Cambodia the need to obtain a visa at a Cambodian diplomatic mission abroad, a health certificate before departure, and sufficient travel insurance; (ii) Quarantine and self-isolation measures; (iii) Schools and casinos are closed and the government has banned public events with more than 50 participants; (iv) The Khmer New Year break has been cancelled; (v) May 20, The authorities have lifted the entry ban on citizens from Iran, Italy, Germany, Spain, France, and the US.

European Central Bank 01 01 - Liquidity Support EUR
European Central Bank 01A 01A - Short-term lending EUR OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020).

No amount/estimate: 12 March, Conducting additional longer-term refinancing operations (LTROs) temporarily (with an interest rate equal to the average rate on the deposit facility, -0.50% currently).

European Central Bank 01B 01B - Support policies for short-term lending EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 29 April 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020).

No amount/estimate: (i) The ECB also announced a broad package of collateral easing measures for Eurosytem credit operations in early April. These include a permanent collateral haircut reduction of 20 percent for non-marketable assets, and temporary measures for the duration of the PEPP (with a view to re-assess their effectiveness before the end of 2020) such as a reduction of collateral haircuts by 20 percent and expansion of collateral eligibility to include Greek sovereign bonds as well as an expansion of the scope of so-called additional credit claims framework so that it may also include public sector-guaranteed loans to SMEs, self-employed individuals, and households. In a move to mitigate the impact of possible rating downgrades on collateral availability , on April 22, the ECB also announced that it would grandfather until September 2021 the eligibility of marketable assets used as collateral in Eurosystem credit operations falling below current minimum credit quality requirements of “BBB-“ (“A-“ for asset-backed securities) as long as their rating remains at or above “BB” and “BB+”, respectively. Assets that fall below these minimum credit quality requirements will be subject to haircuts based on their actual ratings; (ii) Allow major banks (directly supervised by the ECB) to operate temporarily below the level of capital defined by the Pillar 2 Guidance (P2G), the capital conservation buffer (CCB) and the liquidity coverage ratio (LCR).

European Central Bank 01C 01C - Forex operations EUR
European Central Bank 04 04 - Equity support EUR
European Central Bank 12 12 - Non-Economic Measures EUR
European Union 01 01 - Liquidity Support EUR 10,000,000,000 11,061,946,903
European Union 01A 01A - Short-term lending EUR 10,000,000,000 11,061,946,903 EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_569 (accessed 16 April 2020).

March, The European Investment Bank (EIB) dedicated liquidity lines to banks to ensure additional working capital support for small and medium enterprises (SMEs) and mid-caps of EUR10 billion.

European Union 01B 01B - Support policies for short-term lending EUR
European Union 01C 01C - Forex operations EUR
European Union 04 04 - Equity support EUR 549,000,000 607,300,885 EIB. https://www.eib.org/en/press/all/2020-103-eib-backs-eur5-billion-investment-to-mitigate-economic-impact-of-coronavirus-and-support-medical-technology (accessed 29 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 April 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1007 (accessed 12 June 2020).

(i) April 8, The Commission is launching ESCALAR, a new investment approach, developed together with the European Investment Fund (EIF), that will support venture capital and growth financing for promising companies. In its pilot phase, ESCALAR will provide up to EUR300 million backed by the European Fund for Strategic Investments (EFSI); (ii) April 24, EIB also approved an equity investment worth EUR75 million for the German company Curevac, through the EIB's Infectious Disease Financing Facility; (iii) June 8, EUR174 million equity investments from the European Innovation Council (EIC) Accelerator Pilot funding to innovative startups and SMEs.

European Union 12 12 - Non-Economic Measures EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 29 April 2020).

Most European countries have taken several containment measures ranging from lockdowns and travel restrictions to school closures and bans on large gatherings. Measures that favor teleworking were also widely implemented. The European Commission presented guidelines for exit strategies and called for a common framework across member states. The criteria include: (i) sustained reduction and stabilization of new cases, (ii) sufficient health system capacity such as adequate hospital beds, pharmaceutical products, and equipment, and (iii) appropriate monitoring capacity to quickly detect and isolate infected individuals as well as to trace contacts. The Commission invited Schengen Member States and Schengen Associated States to extend the temporary restriction on non-essential travel to the EU until 15 June and presented further guidance on a gradual lifting of border restrictions .

Indonesia 01 01 - Liquidity Support IDR 222,422,636,190,480 14,638,293,840
Indonesia 01A 01A - Short-term lending IDR 56,000,000,000,000 3,685,526,208 Bank Indonesia. https://www.bi.go.id/en/ruang-media/siaran-pers/Pages/sp_223020.aspx (accessed 16 April 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 5 May 2020).

Bank Indonesia (BI) has injected liquidity to the money market and banking industry through various policy measures including (i) more than IDR56 trillion through a term-repo mechanism with underlying SBN transactions held by the banking industry; No amount/estimate: (ii) increasing the maximum duration for repo and reverse repo operations (up to 12 months); (iii) increasing the size of of the main weekly refinancing operations as needed; and (iv) A Presidential decree has expanded BI’s authority to maintain the stability of the financial system including by facilitating BI liquidity assistance to banks.

Indonesia 01B 01B - Support policies for short-term lending IDR 117,800,000,000,000 7,752,767,631 International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 28 April 2020). Bank Indonesia. https://www.bi.go.id/en/ruang-media/siaran-pers/Pages/sp_223020.aspx (accessed 15 April 2020); https://www.bi.go.id/en/ruang-media/info-terbaru/Pages/Perkembangan-Indikator-Stabilitas-Nilai-Rupiah-8-Mei-2020.aspx (accessed 11 May 2020). OECD. http://www.oecd.org/coronavirus/en/ (accessed 5 May 2020).

BI announced increasing monetary easing through quantitative easing as follows: (i) No amount/estimate: Expand monetary operations by providing banks and the corporates a term-repo mechanism with government bonds (SUN) or sharia bonds (SBSN) underlying transactions of tenors up to 1 year; (ii) Lower the reserve requirement ratios effective April 1 to generate IDR22 trillion in additional liquidity and further reductions that took effect on May 1, 2020; (iii) As of May 8, IDR95.8 trillion from the relaxation of the additional demand deposit obligations to meet the Macroprudential Intermediation Ratio (MIR) for conventional commercial banks as well as Islamic banks/Islamic business units for a period of 1 year, effective from May 1, 2020 (Note that SBSN refers to government Islamic securities); and (iv) BI raised the the liquidity buffer ratio by 200 basis points for conventional banks and 50 basis points for islamic banks to be fulfilled only via government bonds purchased in the primary market.

Indonesia 01C 01C - Forex operations IDR 48,622,636,190,476 3,200,000,000 Bank Indonesia. https://www.bi.go.id/en/ruang-media/siaran-pers/Pages/sp_223020.aspx (accessed 16 April 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 5 May 2020).

(i) BI lowered the foreign currency reserve requirement by 4% to increase foreign currency liquidity in the banking industry by around USD3.2 billion; No amount/estimate: (ii) BI announced increasing the frequency of foreign exchange swap auctions for 1, 3, 6, and 12 month tenors from three times per week to daily auctions; and (iii) BI has intervened in the spot and domestic non-deliverable foreign exchange markets, and in the domestic government bond market to maintain orderly market conditions.

Indonesia 04 04 - Equity support IDR
Indonesia 12 12 - Non-Economic Measures IDR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 5 May 2020). OECD. http://www.oecd.org/coronavirus/en/ (accessed 5 May 2020). Reuters. https://www.reuters.com/article/us-health-coronavirus-indonesia-haj/indonesia-cancels-haj-pilgrimage-over-coronavirus-concerns-idUSKBN2390QO?il=0 (accessed 2 June 2020). The Straits Times. https://www.straitstimes.com/asia/se-asia/covid-19-jakarta-eases-restrictions-in-transition-phase-strict-health-protocols-remain (accessed 4 June 2020). Reuters. https://www.reuters.com/article/us-health-coronavirus-indonesia-flights/indonesia-resumes-domestic-air-travel-coronavirus-cases-jump-idUSKBN23G147?il=0 (accessed 9 June 2020). BI. https://www.bi.go.id/en/ruang-media/info-terbaru/Pages/Perkembangan-Terkini-Perekonomian-dan-Langkah-BI-dalam-Hadapi-COVID-19-5-Juni-2020.aspx (accessed 10 June 2020).

(i) The government has adopted various containment measures, including temporary bans on domestic and international air and sea travel, screening at ports of entry, school closures, other restrictions on public events, and obligations on masks and reduced transportation. The government has also banned Indonesia’s traditional annual exodus for Muslim holidays in an effort to curb the spread of the virus from Jakarta and other high-risk regions. (ii)) June 2, The government canceled the haj pilgrimage to Mecca due to COVID-19. (iii) June 4, The government an easing of restrictions in Jakarta by gradually allowing workplaces, places of worship, shopping centres and recreational venues with strict health guidelines such as a 50% capacity limit and ensuring physical distancing. (iv) June 9, Domestic flights resumed at 70% capacity with observance of strict health protocols.

Lao PDR 01 01 - Liquidity Support LAK
Lao PDR 01A 01A - Short-term lending LAK
Lao PDR 01B 01B - Support policies for short-term lending LAK Bank of the Lao P.D.R. https://www.bol.gov.la/en/reservRate (accessed 12 April 2020); International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

No amount/estimate: March 20, The Bank of Lao P.D.R. (BOL) announced a reduction in the reserve requirements, from 10% to 8% on foreign exchange, and from 5% to 4% on local currency, effective on April 2.

Lao PDR 01C 01C - Forex operations LAK IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

No amount/estimate: April, The Lao People's Democratic Republic (Lao PDR) has a managed exchange rate (crawl-like arrangement). Under this arrangement, the exchange rate has depreciated. No new balance of payment or capital control measures have been adopted.

Lao PDR 04 04 - Equity support LAK
Lao PDR 12 12 - Non-Economic Measures LAK IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020, 14 May 2020, 26 May 2020).

(i) April: (a) Border checkpoints, schools, and entertainment venues remain closed; (b) Price control of essential goods is still in place; and (c) The Taskforce Committee for COVID-19 Epidemic Prevention, Control and Response is monitoring latest developments and coordinates the authorities’ response. A separate Taskforce Committee and its seven working groups are in place to address the economic impact of the crisis; (ii) May 4: (a) A nationwide lockdown has been partially lifted. The new loosened measures allow the reopening of public offices and some private sector businesses and is expected to last until May 17; (b) Restaurants, hotels, resorts, guesthouses, coffee shops, barbershops, beauty salons as well as wholesale and retail outlets can resume their businesses, however, large-scale manufacturing plants and investment projects with large number of employees must abide by strict preventative measures introduced by the National Taskforce; and (c) Travel and public transport within each province are now permitted but inter-provincial travel and public transport including air transport and large gatherings are still suspended and banned; (iii) May 18: (a) The new loosened measures allow public offices and businesses to resume and are expected to last until June 1; (b) Restaurants, food vendors, retail and wholesale outlets, fresh markets, supermarkets, personal care services as well as development projects, companies and factories are also permitted to resume operations, but must abide by strict preventative measures introduced by the National Taskforce; (c) In country travel and public transport are now permitted; (d) Some classes at primary, lower and upper secondary schools can resume on May 18 while all others are slated to open on June 2; (e) All indoor and outdoor sporting activities are now permitted; (f) Border checkpoints, night markets, and entertainment venues remain closed; (g) Price control of essential goods is still in place; (iv) June 10, the government announced that the last patient has fully recovered and discharged from hospital. Consequently: (a) Most businesses can resume activities, but night markets, eatery spots, cinemas, casinos must abide by strict preventative measures and practice social distancing; (b) In-country travel and public transport are fully operational; (c) All schools have resumed but must ensure hygiene and distancing practices; (d) All indoor and outdoor sporting activities are now permitted and audiences are allowed, however, entertainment venues remain closed; (e) With the exception of certain checkpoints allowed by the government, border checkpoints for individuals and transportation of goods, will remain closed as will all international borders. However, foreign businessmen, investors, workers for large investment projects as well as diplomats and foreign experts with proper medical certification and authorization can enter the country but have to be quarantined for 14 days; (f) Large gatherings, including for traditional ceremonies and celebrations are now allowed; and (g) Price control of essential goods is still in place.

Malaysia 01 01 - Liquidity Support MYR 44,600,000,000 10,382,233,810
Malaysia 01A 01A - Short-term lending MYR 28,600,000,000 6,657,665,627 Ministry of Finance. https://penjana.treasury.gov.my/pdf/PENJANA-Booklet-En-v3.pdf (accessed 26 June 2020); BNM. https://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=5045&lang=en (accessed 17 May 2020).

(i) Since March 2020, Bank Negara Malaysia has provided additional liquidity of approximately MYR42 billion (as of May 5) into the domestic financial markets, via various tools including outright purchase of government securities, reverse repos and the reduction in Statutory Reserve Requirement [MYR16 billion in Measure 1B is subtracted from MYR42 billion]; (ii) June 5 in Short-term National Economic Recovery Plan or PENJANA: (a) To aid the tourism sector, a MYR1 billion PENJANA Tourism Financing (PTF) facility will be made available to finance transformation initiatives by SMEs in the tourism sector to enable them to remain viable and competitive in the new normal; (b) SME Go-Scheme for Liquidity Support amounting to MYR1.6 billion: SME Bank will provide financing support to contractors and vendors who were awarded with small government projects under the Pakej Rangsangan Ekonomi (PRE) 2020 and the PRIHATIN stimulus package; (c) No amount/estimate: To provide relief to SMEs’ cash flows, the Government is encouraging government-linked companies (GLCs) and large corporations to accelerate their vendors’ payment terms.

Malaysia 01B 01B - Support policies for short-term lending MYR 16,000,000,000 3,724,568,183 Bank Negara Malaysia (BNM). https://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=5014 (accessed 19 April 2020); BNM. https://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=5046&lang=en (accessed 17 May 2020).

(i) No amount/estimate: March 20, Bank Negara Malaysia (BNM) lowered the Statutory Reserve Requirement (SRR) Ratio by 100 basis points to 2%. May 5, SRR remains at 2%; (ii) May 5, Bank Negara Malaysia (BNM) announced that Malaysian Government Securities (MGS) and Malaysian Government Investment Issues (MGII) can be used by banking institutions to fully meet the Statutory Reserve Requirement (SRR) compliance effective May 16. This flexibility is available until May 31, 2021. This measure will release approximately MYR16 billion worth of liquidity into the banking system.

Malaysia 01C 01C - Forex operations MYR
Malaysia 04 04 - Equity support MYR 1,200,000,000 279,342,614 Ministry of Finance. https://penjana.treasury.gov.my/pdf/PENJANA-Booklet-En-v3.pdf (accessed 26 June 2020).

June 5 in Short-term National Economic Recovery Plan or PENJANA, An investment fund, amounting to MYR1.2 billion, will be established, which will match institutional private capital investment with selected venture capital and early stage tech fund managers.

Malaysia 12 12 - Non-Economic Measures MYR WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020, 3 May 2020, 23 May 2020); Prime Minister's Office of Malaysia. https://www.pmo.gov.my/2020/06/key-initiatives-of-pm-muhyiddin-in-100-days/ (accessed 9 June 2020).

(i) No amount/estimate: March 20, Temporary export ban on face masks; (ii) A Movement Control Order (MCO) was put in place on March 18-31 and subsequently extended until April 14: borders are closed; schools, universities and non-essential businesses are closed; all public gatherings are banned; and May 10, MCO has become conditional movement control order (CMCO). It will be extended until June 9; (iii) May 4, The authorities started easing the MCO by allowing most businesses to reopen. However, 7 states out of 14 have opted for a more delayed approach; (iv) June 7, The implementation of the Recovery Movement Control Order (RMCO) from June 10 to Aug 31 was announced; (v) From June 24, schools will start gradually reopening; and (vi) Borders will remain closed and overseas travel restricted until at least August 31.