Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Afghanistan 01 01 - Liquidity Support AFN
Afghanistan 01A 01A - Short-term lending AFN
Afghanistan 01B 01B - Support policies for short-term lending AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 14 April 2020).

No estimate/amount: The Financial Stability Committee is meeting regularly to assess evolving risks to the financial and monetary stability. Da Afghanistan Bank or DAB (central bank) has intensified its monitoring of banks and indicated its readiness to provide liquidity as needed.

Afghanistan 01C 01C - Forex operations AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

No amount/estimate: (i) DAB is in discussions with money-service providers, who play a systemic role in financial transactions, to ensure uninterrupted services, including transactions in foreign currency, and to encourage enhancement of their remote services given closures; (ii) DAB remains focused on price stability and is committed to exchange rate flexibility, limiting its foreign interventions to preventing excessive volatility.

Afghanistan 11 11 - Other Economic Measures AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 24 July 2020)

(i) The government has taken steps to replace wheat imports lost due to border closures with purchases from Central Asia; (ii) On 15 July 2020, trade with India through Wagah border post in Pakistan resumed.

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 4 January 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; (ii) As of end December 2020, this initiative was extended, and with a focus on a tourism lending initiative as well as a retail loan initiative for workers in the tourism sector until end of 2021.

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 11 11 - Other Economic Measures EGP 11,786,229,548 750,000,000 Central Bank of Egypt. https://www.cbe.org.eg/en/Pages/HighlightsPages/Circular-dated-6-August,-2020-regarding-allowing-banks-to-own-unlimited-shares-in-payment-service-providers-and-payment-sys.aspx (accessed 12 August 2020). Egypt Independent. https://egyptindependent.com/egypt-launches-first-green-bonds-in-middle-east-and-africa-worth-us750-mn/ (accessed 22 October 2020). Financial Regulatory Authority Egypt. http://www.fra.gov.eg/content/efsa_ar/efsa_news/efsa_921.htm (accessed 15 October 2020). World Bank. https://datacatalog.worldbank.org/dataset/covid-19-finance-sector-related-policy-responses (accessed 7 May 2020); 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).

No amount/estimate: (i) 20 March 2020, The limit for electronic payments via mobile phones has been raised to EGP30,000/day and EGP100,000/month for individuals, and to EGP40,000/day and EGP200,000/per week for corporations; (ii) 29 March 2020, The central bank set a daily limit on all ATM disbursement per card to be EGP5,000, and limits to cash withdrawal and deposits at a bank branch to be EGP10,000 per individual, and EGP50,000 per corporate; (iii) The cost of transactions in the EGX will be reduced from 0.15% to 0.125% and from 0.15% to 0.05% for non-residents and Egyptian residents, respectively, and all spot transactions on EGX will be exempt from stamp duty; (iv) The National Bank of Egypt and Bank Misr announced a one-year deposit program with a 15% interest rate; (v) 6 August 2020, Allowed banks to own unlimited shares in payment service providers and payment systems operators; (vi) 4 October 2020, The Financial Regulatory Authority reduced the fees for examination and study services owed to the authority by 50% for medium and small companies when they apply for the Authority’s approval when taking steps related to the Egyptian stock exchange (such as preparations for an IPO). The change was aimed at incentivizing SMEs to go to the stock exchange for funding; (vii) 20 October 2020, USD750 million in green bonds (first in Middle East and Africa) to finance expenditures related to green projects addressing the impacts of COVID-19 while also taking into account environmental standards.

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). Government of Argentina. https://www.argentina.gob.ar/noticias/el-gobierno-nacional-lanza-linea-de-credito-tasa-cero-para-el-sector-de-las-industrias (accessed 21 August 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) 2 June 2020, No amount/estimate: launched a special line of credit for work cooperatives at a subsidized rate of 18%; (v) 11 June 2020, No amount/estimate: created the PyMEs Plus program to support microbusinesses and SMEs by providing new lines of credit to eligible applicants; (vi) 13 August 2020, launched a zero-rate credit line for the cultural industries sector.

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 11 11 - Other Economic Measures ARS Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 9 May 2020, 26 June 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 27 April 2020). Official Bulletin of Argentina. https://www.boletinoficial.gob.ar/detalleAviso/primera/232522/20200724 (accesed 31 July 2020). Official Bulletin of Argentina. https://www.boletinoficial.gob.ar/detalleAviso/primera/230897/20200619 (accessed 2 October 2020).

(i) Capital Flow Management Measures (CFMs) that were already in place since August 2019 have largely protected Argentina so far from the impact of capital outflows; (ii) Adopted anti-price gouging policies, including price controls for food and medical supplies and ringfencing of essential supplies, including certain export restrictions on medical supplies and equipment and centralization of the sale of essential medical supplies.; (iii) 28 April 2020, Ordered that the Common Investment Funds (FCI) in pesos must invest at least 75% of their assets in financial instruments and negotiable securities issued in the Argentine Republic; (iv) Extended deadline of filing financial statements for small and medium-sized corporations; (v) 16 May 2020, extended validity of Maximum Prices until June 20; (vi) 18 May 2020, suspended price increases mobile and fixed telephony, Internet and pay TV services until August 31; June 18, extended until end of the year ; (v) 19 May 2020, set the domestic price of a barrel of oil at USD45 with the objective of reactivating the national hydrocarbon industry, guaranteeing the continuity of jobs and promoting self-sufficiency; (vi) 18 June 2020, extended the suspension of the closure and disabling of bank accounts until December 31, 2020, inclusive; (vii) 23 July 2020, extension of 15 days for presentation and payment of tax returns on earnings and personal and identity assets.

Armenia 01 01 - Liquidity Support AMD
Armenia 01A 01A - Short-term lending AMD
Armenia 01B 01B - Support policies for short-term lending AMD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 05 May 2020).

No amount/estimate: Provided a few foreign exchange swap operations to assure sufficient liquidity in AMD and in foreign currency.

Armenia 01C 01C - Forex operations AMD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 05 May 2020).

(i) No amount/estimate: Provided a few foreign exchange swap operations to assure sufficient liquidity in AMD and in foreign currency. The CBA has undertaken some foreign exchange sales to limit excessive dram volatility since; (ii) The exchange rate has been allowed to adjust flexibly and has depreciated around 3% against the USD since the end of February. No balance of payment or capital control measures have been adopted.

Armenia 11 11 - Other Economic Measures AMD KPMG. https://home.kpmg/xx/en/home/insights/2020/04/armenia-government-and-institution-measures-in-response-to-covid.html (accessed 14 May 2020)

14 May 2020, Temporary restrictions on the export of medical masks, gloves and goggles, biohazard suits, medical robes, antiviral medicines, gauze and other medical products.

Australia 01 01 - Liquidity Support AUD
Australia 01A 01A - Short-term lending AUD Reserve Bank of Australia (RBA). https://www.rba.gov.au/speeches/2020/sp-gov-2020-03-19.html (accessed 6 May 2020); RBA. https://www.rba.gov.au/covid-19/ (accessed 03 June 2020).

No amount/estimate: April 2020, To support liquidity, the Reserve Bank of Australia (RBA) will conduct one-month and three-month repo operations daily until further notice.

Australia 01B 01B - Support policies for short-term lending AUD RBA. https://www.rba.gov.au/media-releases/2020/mr-20-13.html (accessed on 6 May 2020); RBA. https://www.rba.gov.au/covid-19/ (accessed 03 June 2020).

No amount/estimate: May 2020, To assist with the smooth functioning of Australian capital markets, the RBA has broadened the range of eligible collateral for open market operations to include securities issued by non-bank corporations with an investment grade.

Australia 01C 01C - Forex operations AUD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 29 September 2020).

No amount/estimate: April 2020, The exchange rate has been allowed to adjust flexibly to absorb economic shocks.

Australia 11 11 - Other Economic Measures AUD
Austria 01 01 - Liquidity Support EUR
Austria 01A 01A - Short-term lending EUR
Austria 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 15 April 2020).

No amount/estimate: The Oesterreichische Nationalbank (OeNB) has declared readiness to supply sufficient cash to banks, ATM operators, and the economy in response to increased withdrawals. Working hours were extended to meet the increased demand.

Austria 01C 01C - Forex operations EUR
Austria 11 11 - Other Economic Measures EUR BMF. https://www.bmf.gv.at/presse/pressemeldungen/2020/juni/regierungsklausur.html (accessed 17 June 2020). Austrian Financial Market Authority. https://www.fma.gv.at/fma-beendet-die-per-verordnung-erlassenen-einschraenkungen-fuer-leerverkaeufe-in-bestimmten-finanzinstrumenten-die-an-der-wiener-boerse-notieren/ (accessed 21 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#A (accessed 9 May 2020).

(i) On 18 March 2020, the Financial Market Authority prohibited short sales for one month following the massive drop in prices on the Vienna Stock Exchange due to betting on covered share price losses and and extended the prohibition to 18 May 2020 on 16 April 2020; (ii) No amount/estimate: 18 May 2020, Ended the restrictions on short sales beginning midnight of the same day; (iii) 16 June 2020, To incentivize companies to buy capital goods, added a degressive depreciation option for an unlimited period, up to 30% of an investment good should be written off in the first year.

Azerbaijan 01 01 - Liquidity Support AZN
Azerbaijan 01A 01A - Short-term lending AZN
Azerbaijan 01B 01B - Support policies for short-term lending AZN
Azerbaijan 01C 01C - Forex operations AZN International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 01 October 2020).

April 2020, The Central Bank of Azerbaijan (CBA), with the participation of the State Oil Fund, conducted scheduled and extraordinary foreign exchange auctions, and satisfied all demands for foreign currency at the announced 1.7AZN/USD rate.

Azerbaijan 11 11 - Other Economic Measures AZN 114,147,378 67,145,516 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); The Coronavirus Response Fund. http://covid19fund.gov.az/en/ (accessed 19 April 2020); Eurasianet. https://eurasianet.org/to-fight-coronavirus-azerbaijan-passes-the-hat (accessed 19 April 2020); Coronavirus Response Fund. http://covid19fund.gov.az/en/donation (accessed 23 July 2020).

(i) March 2020, Establishment of the Coronavirus Response Fund under the Decree of the President of the Republic of Azerbaijan of 19 March 2020. The government itself is asking for donations from citizens, organizations, and businesses to help it deal with the disease in Azerbaijan. According to President Ilham Aliyev, the basic goal of the fund is for the people of Azerbaijan to within the limits of their capability, demonstrate their civil solidarity and generosity which are foundations of their society. The fund has raised AZN114 million as of 20 July 2020; (ii) April, The CBA and commercial banks have shifted to a seven-day work week, including to allow individuals and businesses to convert their manat holdings into foreign currency; (iii) 23 April 2020, The CBA also announced that it will extend its guarantees on insurance premiums.

Bangladesh 01 01 - Liquidity Support BDT 380,000,000,000 4,473,219,541
Bangladesh 01A 01A - Short-term lending BDT 380,000,000,000 4,473,219,541 Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/acd/apr132020acd01.pdf (accessed June 29). Banglashesh Bank. https://www.bb.org.bd/ (accessed 29 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020).

(i) Bangladesh Bank (BB) has created several refinancing schemes, including a BDT50 billion Pre-shipment Refinancing scheme to support exporters, a BDT50 billion Special Incentive Refinancing Scheme for the agriculture sector, a BDT30 billion Refinancing Scheme to support micro-finance, and a BDT250 billion refinance scheme to facilitate the implementation of the government stimulus packages.; (ii) No amount/estimate: Banks and financial institutions can borrow 360 days against additional treasury bills and bonds of statutory deposit rate (SLR) with Bangladesh Bank. The remaining amount of the face value will be paid as repo by applying margin of 15% and 5% face value of treasury bills and bonds respectively; (iii) 27 January 2021, continued the enhanced refinancing limit of USD30 million for disbursement until 30 June 2021 to member mills under the Export Development Fund.

Bangladesh 01B 01B - Support policies for short-term lending BDT Banglashesh Bank. https://www.bb.org.bd/ (accessed 29 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020). The Financial Express. https://thefinancialexpress.com.bd/economy/bangladesh/bb-slashes-crr-to-20pc-for-obo-1592536938 (accessed 26 June 2020). Bangdalesh Bank. https://www.bb.org.bd/en/index.php/mediaroom/circular (accessed 29 January 2021).

(i) No amount/estimate: The CRR was initially reduced from 5% to 4.5% (daily-basis) and from 5.5% to 5% (bi-weekly basis), with a further reduction to 3.5% and 4%, respectively, from 15 April 2020; For non-bank financial institutions, CRR has been reduced to 1.5% (bi-weekly basis) and 1% (daily basis) effective from June 1, 2020. (ii) No amount/estimate: 19 June 2020, central bank lowered cash reserve ratio by 200 bp to 2.0% for offshore banking operation.

Bangladesh 01C 01C - Forex operations BDT IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020).

No amount/estimate: Foreign exchange rules were eased by Bangladesh Bank to provide foreign currency to the Bangladeshi nationals who are visiting abroad and facing problem in returning home due to travel disruptions. It also resumed sales of the US dollar to offset extra pressure on the market caused by lower remittance inflows following the COVID-19 outbreak.

Bangladesh 11 11 - Other Economic Measures BDT Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/brpd/jun102020brpd12.pdf (accessed 29 June 2020).

BB instructed banks to waive customers interest for the period from 1 April to 31 May based unclassified loan outstanding balance as at 30 March 2020. According to the instruction, loan balance upto BDT 0.1m, waiver the whole amount of interest; loan balance more than BDT 0.1m to BDT 1m interest, interest waiver @2% annually; loan balance more than BDT 1m; interest waiver @1%. Customer wise maximum amount of waiver is BDT 1.2m.

Belgium 01 01 - Liquidity Support EUR
Belgium 01A 01A - Short-term lending EUR