Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Afghanistan 02 02 - Credit creation AFN
Afghanistan 02A 02A - Financial sector lending/funding AFN
Afghanistan 02B 02B - Support policies for long-term lending AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

No estimate/amount: (i) The authorities increased the frequency of Financial Stability Committee meetings, enhanced the monitoring of early signs of liquidity stress, and reviewed banks’ business continuity plans; (ii) DAB has suspended administrative penalties and fees, postponed the IFRS-9 implementation to June 2021, and froze loan classifications at the pre-pandemic cutoff of end-February.

Afghanistan 02C 02C - Loan guarantees AFN
Afghanistan 04 04 - Equity support AFN
Afghanistan 05 05 - Health and income support AFN 8,000,000,000 101,662,492
Afghanistan 05A 05A - Health support AFN 8,000,000,000 101,662,492 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

(i) The government has so far allocated AFN1.9 billion (0.1% of GDP) in the budget for emergency health needs, such as (a) establishing testing labs, including at border crossings, (b) setting up special wards to boost hospitalization and care capacity, and (c) procuring the most critical medical supplies; (ii) As of April 22, the government has already allocated a total of AFN8 billion (0.5% of GDP) for emergency pandemic response. The authorities plan to spend about 2% of GDP for critical pandemic-related spending during the year, with about one-third directed to health;

Afghanistan 05B 05B - Income support AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

No amount/estimate: To ease tax compliance, the government extended filing deadlines by 2 months, until May 20 for individual and business taxpayers.

Afghanistan 08 08 - International Assistance Received AFN 61,958,912,636 787,362,181
Afghanistan 08A 08A - Swaps AFN
Afghanistan 08B 08B - International loans/grants AFN 61,958,912,636 787,362,181
Afghanistan 08B1 08B1 - Asian Development Bank AFN 3,389,253,931 43,070,000 ADB. https://www.adb.org/news/adb-president-afghanistan-president-discuss-covid-19-support-40-million-grant (accessed 14 May 2020). ADB Table A1.2: Sovereign Lending and Asian Development Fund Grant Operations, Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance, Table A1.5: Country Support under TA 9550-REG. (all accessed 12 June 2020)

(i) USD3 million - Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases; (ii) May 11, USD40 million Emergency Assistance for COVID-19 Pandemic Response grant to support the construction of 15 hospitals and medical facilities; (iii) June 3, Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (Additional Financing) - USD0.07million. [update]

Afghanistan 08B2 08B2 - Other AFN 58,569,658,705 744,292,181 IMF. https://bit.ly/2Vk0uFb (accessed 19 April 2020); IMF. https://www.imf.org/en/News/Articles/2020/04/29/pr20193-afghanistan-imf-executive-board-approves-disbursement-to-address-the-covid-19; World Bank. https://www.worldbank.org/en/news/press-release/2020/04/02/world-bank-fast-tracks-100-million-covid-19-support-for-afghanistan (both accessed 1 May 2020). WB. https://www.worldbank.org/en/news/press-release/2020/05/07/world-bank-approves-400-million-to-sustain-afghanistans-reform-momentum-mitigate-covid-19-crisis (accessed 14 May 2020). USAID. https://www.usaid.gov/news-information/coronavirus/fact-sheets/update-united-states-continues-lead-global-response-covid-19 (accessed 1 June 2020)

(i) April 14-Oct 13: IMF Catastrophe Containment And Relief Trust-Grant Assistance For Debt Service Relief, SDR2.4 million (SDR0.729/USD); (ii) April 2, The World Bank approved a USD100.4 million grant for the Afghanistan COVID-19 Emergency Response and Health Systems Preparedness Project to help Afghanistan take effective action to respond to the threat posed by COVID-19 and strengthen its public health preparedness; (iii) The IMF approved Afghanistan’s request for emergency assistance in the amount of SDR161.9 million (approximately USD220 million) under the Rapid Credit Facility; (iv) With the support of the World Bank, other development partners, and humanitarian agencies, the authorities are developing a social relief package—through cash transfers and, if impractical, in kind—to support food security among socially vulnerable households. On April 29, the government started providing free bread to about 2.5 million needy and poor people in Kabul [update]; (v) May 7, USD400 million grant from the World Bank to support the country in managing risks and uncertainties compounded by the COVID-19 crisis; (vi) As of May 26, USD18.7 million from USAID, broken down into: (a) USD7.1 million for health and IDA humanitarian assistance, (b) USD3.1 million in MRA humanitarian assistance for Afghan returnees, (c) USD10 million from redirecting existing resources to support Afghanistan's health response, (d) USD500,000 to procure COVID-19 prevention and control supplies for correctional facilities.

Armenia 02 02 - Credit creation AMD 25,000,000,000 51,123,841
Armenia 02A 02A - Financial sector lending/funding AMD 25,000,000,000 51,123,841 JAM News. https://jam-news.net/armenian-govt-offers-stimulus-package-to-help-mitigate-corona-crisis/(accessed 16 April 2020).

Allocate a total of AMD25 billion (over USD50 million) to co-finance loans for companies that borrow money from Armenian banks in the national currency to pay salaries, taxes, bills and purchase raw materials. This amount includes subsidy for the interests of these of loans.

Armenia 02B 02B - Support policies for long-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: The Central Bank of Armenia (CBA) reduced the policy rate by another 25 bps to 5% on April 28 [update]. The interbank market has been active, and the central bank has easily met liquidity needs so far.

Armenia 02C 02C - Loan guarantees AMD
Armenia 04 04 - Equity support AMD
Armenia 05 05 - Health and income support AMD 30,000,000,000 61,348,610
Armenia 05A 05A - Health support AMD
Armenia 05B 05B - Income support AMD 30,000,000,000 61,348,610 Asbarez. http://asbarez.com/193112/pashinyan-unveils-economic-aid-package-amid-state-of-emergency/ (accessed 16 April 2020).

(i) No amount/estimate: Subsidize the interest rates of co-financed loans for companies that borrow money from Armenian banks in the national currency to pay salaries, taxes, bills and purchase raw materials; (ii) a package of AMD30 billion (over USD60 million) for urgent social assistance for the impoverished. See Measure 9: No breakdown.

Armenia 08 08 - International Assistance Received AMD 155,084,198,936 317,140,000
Armenia 08A 08A - Swaps AMD
Armenia 08B 08B - International loans/grants AMD 155,084,198,936 317,140,000
Armenia 08B1 08B1 - Asian Development Bank AMD 15,374,431,527 31,440,000 ADB Table A1.3: Nonsovereign Operations, Table A1.5: Country Support under TA 9550-REG. (both accessed 12 June 2020). ADB. https://www.adb.org/news/adb-electric-networks-armenia-sign-20-million-working-capital-support-loan (accessed 4 June 2020)

(i) March 22, Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (USD0.5 million); (ii) Nonsovereign Operations: Trade Finance Program (Additional Financing) - guarantee (USD10.21 million OCR, USD10.01 million co-financed) [update]; (iii) Nonsovereign Operations: Trade Finance Program (Additional Financing) - loan (USD0.73 million, with USD1.40 million co-financed); (iv) May 28, USD45 million from the COVID-19 Working Capital Support Project (USD20 million OCR, USD25 million co-financed).

Armenia 08B2 08B2 - Other AMD 139,709,767,409 285,700,000 WB. https://www.worldbank.org/en/news/press-release/2020/04/03/world-bank-supports-armenia-to-combat-the-human-impact-of-the-covid19-pandemic (accessed 5 May 2020). IMF. https://www.imf.org/en/News/Articles/2020/05/18/pr20219-armenia-imf-execboard-concludes-2ndrev-under-sba-augments-access-address-impact-covid19 (accessed 21 May 2020)

(i) April 3, The World Bank allocated USD3 million to address the country’s urgent needs for equipment and supplies needed for the intensive care of people with a confirmed COVID-19 diagnosis; (ii) May 18, USD280 million in total aid immediately available after an augmentation of its Stand-By Arrangement with the IMF; (iii) As of May 26, USD2.7 million to prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk-communications, and more.

Azerbaijan 02 02 - Credit creation AZN 500,000,000 294,117,647
Azerbaijan 02A 02A - Financial sector lending/funding AZN
Azerbaijan 02B 02B - Support policies for long-term lending AZN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020).

No amount/estimate: March 19: (i) The CBA left the refinancing rate unchanged at 7.25%, but raised the floor of the interest rate corridor (within a de facto floor system) by 125 basis points (bps) to 6.75%. May 1, the CBA lowered the ceiling of the interest rate corridor by 100 bps to 8% ; (ii) The authorities have announced their intention to extend the blanket deposit guarantee until December 4, 2020. The guarantee covers all AZN (foreign currency) deposits within a 10 (2.5)% interest rate cap; (iii) A relation of capital requirements (systemwide and the countercyclical capital buffer) and risk weights on mortgage loans; (iv) April 23, Suspension of inspections of credit institutions.

Azerbaijan 02C 02C - Loan guarantees AZN 500,000,000 294,117,647 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020); Caspian News. https://caspiannews.com/news-detail/azerbaijan-takes-measures-to-mitigate-covid-19-impact-on-economy-social-life-2020-4-6-1/ (accessed 15 April 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/azerbaijan-government-and-institution-measures-in-response-to-covid.html (accessed on 6 May 2020).

April 6, Entrepreneurs get state guarantee for 60% of their new bank loans and the government subsidizes half of the interest on guaranteed loans from the state budget; overall state support at AZN500 million (USD294 million); (ii) No amount/estimate: May, The CBA also announced that it will extend its guarantees on insurance premiums.

Azerbaijan 04 04 - Equity support AZN
Azerbaijan 05 05 - Health and income support AZN 1,093,500,000 643,235,294
Azerbaijan 05A 05A - Health support AZN 8,500,000 5,000,000 World Health Organization (WHO). http://www.euro.who.int/en/countries/azerbaijan/news/news/2020/3/azerbaijan-steps-up-covid-19-preparedness-and-readiness-measures,-welcoming-who-mission (accessed 15 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020).

(i) March, Azerbaijan is contributing to global efforts to address COVID-19, coordinating with neighboring countries, and has pledged USD5 million to World Health Organization's strategic preparedness and response plan.

Azerbaijan 05B 05B - Income support AZN 1,085,000,000 638,235,294 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020); Caspian News. https://caspiannews.com/news-detail/azerbaijan-takes-measures-to-mitigate-covid-19-impact-on-economy-social-life-2020-4-6-1/ (accessed 15 April 2020); European Bank for Reconstruction and Development (EBRD). https://www.ebrd.com/news/2020/ebrd-and-azerbaijans-central-bank-promote-manat-lending-to-coronavirushit-firms.html (accessed 27 May 2020).

(i) April 6, AZN1 billion (USD588 million) for the government's subsidization of 10% of the interest for one year of existing company loans; (ii) No amount/estimate: April, Tax exemptions for micro-enterprises and value-added tax (VAT) exemption for some food and medicinal products, as well as the raw materials that are necessary for making such stuff; (iii) No amount/estimate: Lump-sum payments in the amount of living wage - AZN190 (USD112) to 200,000 unemployed citizens of the country. The payment is considered for two months. The social package aims to relieve the impact of the novel coronavirus on the social life of people by multiple tools, including creation of 50,000 paid public jobs, tuition support program for students from socially vulnerable families, financial support program for mortgage and credit guarantee mechanism, program to support communal fees, primarily for electricity consumption of the population, and financial support program for vital passenger transport activities; (iv) May 19, USD50 million, or about AZN85 million (of the USD200 million swap with the European Bank for Reconstruction and Development (EBRD)) is allocated as support to local firms, including smaller viable enterprises experiencing temporary difficulties.

Azerbaijan 08 08 - International Assistance Received AZN 346,970,000 204,100,000
Azerbaijan 08A 08A - Swaps AZN 340,000,000 200,000,000 Central Bank of Azerbaijan (CBA). https://www.cbar.az/press-release-2616/central-bank-and-ebrd-provide-joint-financial-support-to-businesses-affected-by-coronavirus-pandemic (accessed on 20 May 2020).

May 19, The CBA and the EBRD have signed a USD200 million swap agreement to increase access to financial resources for the real sector during the coronavirus pandemic.

Azerbaijan 08B 08B - International loans/grants AZN 6,970,000 4,100,000
Azerbaijan 08B1 08B1 - Asian Development Bank AZN 850,000 500,000 ADB.

April, Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (USD0.50 million).

Azerbaijan 08B2 08B2 - Other AZN 6,120,000 3,600,000 WHO. http://www.euro.who.int/en/countries/azerbaijan/news/news/2020/3/azerbaijan-steps-up-covid-19-preparedness-and-readiness-measures,-welcoming-who-mission (accessed 15 April 2020); USAID. https://www.usaid.gov/news-information/coronavirus/fact-sheets/may-29-2020-update-united-states-continues-lead-global-response-covid-19 (accessed 5 June 2020).

(i) No amount/estimate: Testing and personal protective equipment supplies from WHO; (ii) May, USAID provided USD3.6 million in total assistance, of which (a) USD3 million in health assistance, which is helping prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk-communications, and more; (b) USD0.565 million in MRA humanitarian assistance that will help vulnerable people and host communities during the pandemic (grant).

European Central Bank 02 02 - Credit creation EUR 4,470,000,000,000 4,944,690,265,487
European Central Bank 02A 02A - Financial sector lending/funding EUR 1,470,000,000,000 1,626,106,194,690 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020); ECB. https://www.ecb.europa.eu/press/accounts/2020/html/ecb.mg200522~f0355619ae.en.html (accessed 22 May 2020); ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp200604~a307d3429c.en.html ( accessed 9 June 2020).

(i) March 12, Adding a temporary envelope of additional net asset purchases of EUR120 billion until the end of the year; (ii) March 18, launched a new temporary asset purchase programme of private and public sector securities (Pandemic Emergency Purchase Programme, PEPP) with an overall envelope of EUR 750 billion until the end of 2020. Some self-imposed purchase limits will not apply to the PEPP. A waiver of the eligibility requirements for securities issued by the Greek government will be granted for purchases under PEPP. Based on The European Central Bank is “fully prepared” to provide even more stimulus as soon as June to support an economy that may shrink by a tenth this year due to the COVID-19 pandemic, the accounts of the bank’s April meeting showed on Friday; (iii) expanding the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper; (iv) June 4, The PEPP envelope will be increased by EUR600 billion to a total of EUR1,350 billion. The purchases will continue to be conducted in a flexible manner over time, across asset classes and among jurisdictions. This allows the Governing Council to effectively stave off risks to the smooth transmission of monetary policy. The horizon for net purchases under the PEPP will be extended to at least the end of June 2021. In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over [update].

European Central Bank 02B 02B - Support policies for long-term lending EUR 3,000,000,000,000 3,318,584,070,796 EC. https://www.ecb.europa.eu/mopo/implement/omt/html/cspp-qa.en.html (accessed 15 April 2020); EC. https://www.ecb.europa.eu/press/blog/date/2020/html/ecb.blog200409~3aa2815720.en.html (accessed 18 April 2020); EC. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr200430_1~477f400e39.en.html [accessed 3 May 2020]; EC. https://www.ecb.europa.eu/mopo/implement/omo/html/index.en.html (accessed 30 April 20202); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 18 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020).

(i) March 12, Lowering the interest rate applied in targeted longer-term refinancing operations (TLTRO III) during the period from June 2020 to June 2021 (25 basis points below the average rate applied in the Eurosystem's main refinancing operations). The targeted longer-term refinancing operations (TLTROs) are Eurosystem operations that provide financing to credit institutions. By offering banks long-term funding at attractive conditions they preserve favourable borrowing conditions for banks and stimulate bank lending to the real economy. It is estimated that the facility could provide up to around EUR3 trillion in at a negative rate, which can be as low as -0.75%, the lowest rate ECB ever offered. On April 30, ECB lowered the rate on the third round of targeted longer-term refinancing operations (TLTRO III) to -1% from -0.75%. On the same day, ECB decided to conduct a series of seven pandemic emergency longer-term refinancing operations (PELTROs) to provide liquidity support to the euro area financial system and ensure smooth money market conditions during the pandemic period. No amount/estimate: (ii) relaxation of countercyclical capital buffer (CCyB); (iii) March 20, Flexibility in treatment of non-performing loans (NPLs) to allow banks to fully benefit from public guarantees and moratoriums and of banks' implementation of NPL reduction strategies; (iv) March 27, requirement for banks not to pay dividends until at least 1 October 2020.; (v) see (ii) on CCB in Measure 1; (vi) April 28, the European Commission proposed a number of changes to the Capital Requirements Regulation (Regulation (EU) 575/2013) to provide temporary capital relief to banks. These changes include inter alia extending by 2 years the current transitional arrangements for mitigating the impact of IFRS 9 provisions on regulatory capital, a later date of application of the leverage ratio buffer for global systemically important institutions, a more favourable treatment of publicly guaranteed loans under the NPL prudential backstop (the minimum loss coverage requirement for non-performing loans), and advancing the date of application of capital reduction factors in respect of certain loans to SMEs or in support of infrastructure investments; (vii) No amount/estimate: April 30, New series of non-targeted pandemic emergency longer-term refinancing operations, conducted as fixed rate tender procedures with full allotment, rate fixed at 25bp below refi rate. Operations mature in staggered sequence between July-September 2021.