Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Arab Republic of Egypt 01 01 - Liquidity Support EGP
Arab Republic of Egypt 01A 01A - Short-term lending EGP IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

(i) No amount/estimate: Short-term loans of up to a year were made available to allow small projects harmed by COVID-19 (especially in industrial and labor-intensive sectors) to pay for their operational expenses until the crisis is over.

Arab Republic of Egypt 01B 01B - Support policies for short-term lending EGP
Arab Republic of Egypt 01C 01C - Forex operations EGP
Arab Republic of Egypt 04 04 - Equity support EGP 20,000,000,000 1,272,671,633 OECD. https://www.oecd.org/coronavirus/en/ (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

EGP20 billion stock-purchase program has been launched by the Central Bank.

Argentina 01 01 - Liquidity Support ARS 343,000,000,000 5,466,135,458
Argentina 01A 01A - Short-term lending ARS 343,000,000,000 5,466,135,458 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed15 May 2020).

(i) ARS1 billion working capital lines for SME through Bank of Investment and Foreign Trade (BICE) with a guarantee from the Reciprocal Guarantee Societies (SGR), and a term of up to 12 months; (ii) Mandatory credit lines through the Central Bank (ARS320 billion); (iii) Established a credit line for MSMEs, PyME Plus line, that do not have bank credit at a subsidized rate of 24%. The Central Bank authorized a special line for ARS22 billion with minimum requirements so that they can take their first credit and for the MSMEs that obtain the FOGAR guarantee, the banks cannot deny it; (iv) June 2, No amount/estimate: launched a special line of credit for work cooperatives at a subsidized rate of 18%; (v) June 11, No amount/estimate: created the PyMEs Plus program to support microbusinesses and SMEs by providing new lines of credit to eligible applicants.

Argentina 01B 01B - Support policies for short-term lending ARS BCRA. https://www.bcra.gob.ar/Noticias/Coronavirus-BCRa-medidas-directorio.asp (Accessed 27 April 2020.

No amount/estimate: (i) Reduced reserve requirements for financial entities that offered special lines of credit to micro, small and medium-sized enterprises at maximum 24% interest; (ii) the combined divestiture of LELIQ holdings and release of reserve requirements could generate credit volumes more than 50% of current bank financing.

Argentina 01C 01C - Forex operations ARS

See (i) in Measure 11.

Argentina 04 04 - Equity support ARS
Brazil 01 01 - Liquidity Support BRL 552,493,781,818 113,141,326,324
Brazil 01A 01A - Short-term lending BRL International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19?fbclid=IwAR3QQSk6OmfE7YbISvq0_ut_FpTD_Bc00gRB-YJ_YA_VB-VlWiYD9PBO0Ro#B (accessed 29 April 2020).

No amount/estimate: The central bank also opened a facility to provide loans to financial institutions backed by private corporate bonds as collateral.

Brazil 01B 01B - Support policies for short-term lending BRL 288,800,000,000 59,141,326,324 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19?fbclid=IwAR3QQSk6OmfE7YbISvq0_ut_FpTD_Bc00gRB-YJ_YA_VB-VlWiYD9PBO0Ro#B (Accessed 29 April 2020). BCB https://www.bcb.gov.br/en/pressdetail/2321/nota (accessed May 29). BCB. https://www.bcb.gov.br/detalhenoticia/17105/nota (accessed June 25); BCB https://www.bcb.gov.br/detalhenoticia/17104/nota (accessed June 25)

(i) March 16, the reserve requirement on time deposits was reduced from 31% to 25% and restrictions on applying reserve requirements to the Liquidity Coverage Ratio were relaxed; BCB estimates the effect will be to increase lending by BRL 135 billion; (ii) March 26, the reserve requirement on time deposits was reduced further from 25% to 17%; BCB estimates the effect will be to increase lending by BRL 68 billion; (iii) March 26, the upper limit of the repurchase of Financial Letters of their own issuance for bank from Segment S1 was raised from 5% to 50%; BCB estimates an increase in liquidity of BRL 30 billion; (iv) No amount/estimate: June 23, BCB reduced the Risk-Weighting Factor (FPR) from 50% to 35% for Time Deposits with Special Guarantees (DPGE) exposures when the depositor is an institution associated with the Credit Guarantee Fund (FGC); (v) June 23, BCB now allows credit operations for financing working capital for companies with annual sales of up to BRL50 million contracted from June 29 to December 31, 2020 to be deducted from compulsory reserve requirements on saving deposits for a period of 3 years; the measure has maximum estimated potential increase to lending potential of BRL55.8 billion.

Brazil 01C 01C - Forex operations BRL 263,693,781,818 54,000,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19?fbclid=IwAR3QQSk6OmfE7YbISvq0_ut_FpTD_Bc00gRB-YJ_YA_VB-VlWiYD9PBO0Ro#B (Accessed 29 May 2020)

(i) The central bank has intervened various times in the foreign exchange market since mid-February (both with spot and derivative contracts sales), by a total of nearly USD45 billion (10% of gross reserves) as of May 28; (ii) The central bank is resuming repo operations of Brazilian sovereign bonds denominated in US dollars, having released USD9 billion into the money market thus far.

Brazil 04 04 - Equity support BRL
Islamic Republic of Iran 01 01 - Liquidity Support IRR 63,000,000,000,000 1,500,000,000
Islamic Republic of Iran 01A 01A - Short-term lending IRR
Islamic Republic of Iran 01B 01B - Support policies for short-term lending IRR
Islamic Republic of Iran 01C 01C - Forex operations IRR 63,000,000,000,000 1,500,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020).

The Central Bank of Iran announced it injected USD1.5 billion in the foreign exchange market to stabilize the rial.

Islamic Republic of Iran 04 04 - Equity support IRR
Mexico 01 01 - Liquidity Support MXN 469,690,000,000 21,379,671,355
Mexico 01A 01A - Short-term lending MXN 200,000,000,000 9,103,737,084 Bank of Mexico.https://www.banxico.org.mx/publications-and-press/other-announcements/%7B6F7FECBA-44CB-6AA5-4E4B-269DDBD9B5A8%7D.pdf (accessed on 30 April 2020).

(i) No amount/estimate: Ordinary Additional Liquidity Facility (FLAO); (ii) MXN100 billion -Temporary security swap window; (iii) MXN100 billion- Banco de México has decided to implement a corporate securities repurchase facility (FRTC) through credit institutions in order to provide liquidity to short-term corporate securities and long-term corporate debt that, as a result of the conditions of uncertainty and volatility, have observed lower liquidity and impaired trading conditions in the secondary market.

Mexico 01B 01B - Support policies for short-term lending MXN 50,000,000,000 2,275,934,271 Bank of Mexico. https://www.banxico.org.mx/publications-and-press/other-announcements/%7B6F7FECBA-44CB-6AA5-4E4B-269DDBD9B5A8%7D.pdf (accessed on 30 April 2020).

(i) Reduce the mandatory regulatory deposit with Banxico (by MXN50 billion, or about 15% of the current stock); (ii) The central bank has also substantially expanded its liquidity facilities making them more affordable, accepting a broader range of collateral and expanding eligible institutions while establishing a corporate securities repo facility to support the corporate bond market.

Mexico 01C 01C - Forex operations MXN 219,690,000,000 10,000,000,000 International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed on 30 April 2020).

(i) The exchange rate has been allowed to adjust flexibly, while supporting USD liquidity. A new tool was added this week permitting the central bank to intervene in offshore non-deliverable forwards markets; (ii) Activated the swap line with the Fed, auctioned already USD5 billion to commercial banks and announced a second auction (USD5 billion).

Mexico 04 04 - Equity support MXN
Nigeria 01 01 - Liquidity Support NGN
Nigeria 01A 01A - Short-term lending NGN
Nigeria 01B 01B - Support policies for short-term lending NGN
Nigeria 01C 01C - Forex operations NGN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19?fbclid=IwAR3QQSk6OmfE7YbISvq0_ut_FpTD_Bc00gRB-YJ_YA_VB-VlWiYD9PBO0Ro#P (accessed 22 May 2020). KPMG. https://home.kpmg/xx/en/home/insights/2020/04/nigeria-government-and-institution-measures-in-response-to-covid.html (accessed 4 May 2020)

(i) No amount/estimate: The official exchange rate has been adjusted by 15%; (ii) No amount/estimate: Improving FX supply to the CBN by directing oil companies and oil servicing companies to sell FX to the CBN rather than the Nigerian National Petroleum Corporation; (iii) No amount/estimate: May 20, While I&E window turnover has been low since April, the CBN has resumed FX supply in some of the other windows.

Nigeria 04 04 - Equity support NGN
Russian Federation 01 01 - Liquidity Support RUB 1,078,000,000,000 14,703,014,118
Russian Federation 01A 01A - Short-term lending RUB 1,078,000,000,000 14,703,014,118 Ministry of Economic Devleopment. https://www.economy.gov.ru/material/news/ekonomika_bez_virusa/pravitelstvo_smyagchit_pravila_predostavleniya_lgotnyh_kreditov_sistemoobrazuyushchim_predpriyatiyam.html (accessed 24 June 2020), https://www.economy.gov.ru/material/news/ekonomika_bez_virusa/reshetnikov_kredity_pod_0_na_zarplatu_pozvolili_podderzhat_800_tys_rabochih_mest.html (accessed 28 May 2020), https://www.economy.gov.ru/material/news/ekonomika_bez_virusa/maksim_reshetnikov_gosudarstvennye_mikrozaymy_pomogut_sohranit_150_tys_rabochih_mest_v_regionah.html (accessed 21 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020); CBR. https://cbr.ru/eng/press/pr/?file=23032020_170800eng2020-03-23T17_07_10.htm (accessed 6 May 2020); CBR. https://cbr.ru/eng/press/event/?id=6530 (accessed 6 May 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020).

(i) RUB1 trillion total in repo fine-tuning auctions were held, divided into two dates, (a) March 10, RUB500 billion worth, and (b) March 19, another RUB500 billion worth; (ii) No amount/estimate: Short-term zero-interest loans to be provided for all enterprises in affected industries to pay minimum wages for 6 months; (iii) May 8, RUB3 billion worth of loan programs to subsidiaries of "backbone companies"; (iv) Drafted a program that would provide low-cost loans to businesses through the Vnesheconombank (VEB); (iv) May 20, Announced the allocation of RUB12 billion from the Reserve Fund and issuing microloans to MFIs in need, for an average microloan term of 6 months; (v) May 27, RUB58 billion in loans at 0% interest for SMEs to continue paying salaries; (vi) June 19, RUB5 billion in soft loans to systemically important enterprises to restore working capital. Eligible enterprises must have had a 30% decline in monthly production

Russian Federation 01B 01B - Support policies for short-term lending RUB CBR. https://cbr.ru/press/event/?id=6818 (accessed 10 June 2020).

No amount/estimate: June 5, Required Russian brokers to maintain a short term liquidity ratio of 70% as of October 2021, to be increased to 100% by 2023.

Russian Federation 01C 01C - Forex operations RUB Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 6 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020); CBR. https://cbr.ru/eng/press/event/?id=6533 (accessed 6 May 2020); CBR. https://cbr.ru/eng/press/event/?id=6490 (accessed 6 May 2020).

No amount/estimate: (i) March 10, The Central Bank of Russia (CBR) started selling FX reserves from the National Welfare Fund; (ii) March 10, The CBR increased the limit on its FX swap operations to provide US dollars with the maturity date of ‘today’ to USD5 billion; (iii) March 19, Bank of Russia will start selling foreign currency in the domestic market purchased from the National Wealth Fund (NWF), and will apply its foreign currency sales mechanism in the domestic market until 30 September 2020. The Bank of Russia will announce the FX sale mechanism to be applied after 30 September 2020 in a separate notice.

Russian Federation 04 04 - Equity support RUB
Saudi Arabia 01 01 - Liquidity Support SAR 3,700,000,000 986,666,667
Saudi Arabia 01A 01A - Short-term lending SAR 3,700,000,000 986,666,667 KPMG. https://home.kpmg/xx/en/home/insights/2020/04/hungary-government-and-institution-measures-in-response-to-covid.html (accessed 5 June 2020). The National. https://www.thenational.ae/business/saudi-arabia-unveils-3-7bn-riyals-stimulus-package-to-support-industries-1.1034849 (accessed 26 June 2020)

(i) No amount/estimate: Extending working capital finance to corporates in affected sectors to address short term liquidity requirements; (ii) June 16, SAR3.7 billion from The Saudi Industrial Development Fund (SIDF) to support private sector industrial enterprises. The scheme will support small and medium enterprises within the industrial sector by deferring or restructuring their loans and by offering a line of credit to finance up to three months of operating expenses.

Saudi Arabia 01B 01B - Support policies for short-term lending SAR
Saudi Arabia 01C 01C - Forex operations SAR
Saudi Arabia 04 04 - Equity support SAR
South Africa 01 01 - Liquidity Support ZAR 300,000,000 18,076,977
South Africa 01A 01A - Short-term lending ZAR 300,000,000 18,076,977 SARB. https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/9791/Changes%20to%20the%20money%20market%20liquidity%20management%20strategy%20of%20the%20SARB.pdf (accessed 7 May 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020). Industrial Development Corpoation. https://www.idc.co.za/2020/06/24/idc-interventions-in-response-to-covid-19/ (accessed 03 July 2020).

(i) No amount/estimate: March 20, (a) SARB increased the number of repo auctions to two to provide intraday liquidity support to clearing banks at the policy rate; (b) raised the size of the main weekly refinancing operations as needed; (ii) No amount/estimate: March 25, SARB announced that main refinancing operations will be offered for periods of 7 days to longer-term maturities of up to 12 month; (iii) No amount/estimate: May 11, Reduced frequency of Intraday Overnight Supplementary Repurchase Operations (IOSROs) from two per day to one per day; (iv) June 24, ZAR300 million Covid-19 Small Industrial Finance Fund to assist Industrial Development Corporation by offering concessionary finance to cover short-term operations. [update]