|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Cook Islands||02||02 - Credit creation||NZD|
|Cook Islands||02A||02A - Financial sector lending/funding||NZD|
|Cook Islands||02B||02B - Support policies for long-term lending||NZD|
|Cook Islands||02B1||02B1 - Interest rate adjustments||NZD|
|Cook Islands||02B2||02B2 - Other policies to support long-term lending||NZD|
|Cook Islands||02C||02C - Loan guarantees||NZD|
|Cook Islands||05||05 - Health and income support||NZD||61,380,000||37,132,486||Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).||
The Government’s COVID-19 Economic Response Plan with a total value of NZD61 million has three objectives. The first is to stimulate demand through support to local business to ensure that the economy is able to continue to operate, even at a reduced level, during this period of extreme uncertainty surrounding COVID-19. The second is to support the livelihoods of those that are likely to be most affected by the economic fallout, including those required to self-isolate, those that lose their jobs and the elderly and infirm. The third objective is to achieve the first two objectives in a fiscally responsible manner that does not undermine the Government’s ability to undertake further fiscal intervention over the longer-term, should that prove necessary.
|Cook Islands||05A||05A - Health support||NZD||7,300,000||4,416,213||
(i) NZD5 million, Ministry of Health; (ii) NZD2.3 million support for self-isolation.
|Cook Islands||05B||05B - Income support||NZD||54,080,000||32,716,273|
|Cook Islands||05B1||05B1 - Tax and contribution deferrals and policy changes||NZD|
|Cook Islands||05B2||05B2 - Tax and contribution rates reduction||NZD|
|Cook Islands||05B3||05B3 - Subsidies to individuals and households||NZD||25,400,000||15,366,001||Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).||
(iv) NZD0.97 million unemployment benefit; (ii) NZD22.51 million wage subsidy; (iii) NZD1 million child benefit payment; (iv) NZD0.87 million one-off welfare payment; (v) NZD50 thousand redeployment program.
|Cook Islands||05B4||05B4 - Subsidies to businesses||NZD||3,360,000||2,032,668||Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).||
(i) NZD3.36 million business grants.
|Cook Islands||05B5||05B5 - Indirect income support||NZD||14,000,000||8,469,449||
(i) NZD2 million small capital works program; (ii) NZD12 million major capital projects.
|Cook Islands||05B6||05B6 - No breakdown (income support)||NZD||11,320,000||6,848,155||
NZD11.32 million indirect costs (tax relief, TAU,etc).
|Cook Islands||05C||05C - No breakdown (health and income support)||NZD|
|Cook Islands||07||07 - Central bank financing government||NZD|
|Cook Islands||07A||07A - Direct lending and reserve drawdown||NZD|
|Cook Islands||07B||07B - Secondary purchase: government securities||NZD|
|Federated States of Micronesia||02||02 - Credit creation||USD|
|Federated States of Micronesia||02A||02A - Financial sector lending/funding||USD|
|Federated States of Micronesia||02B||02B - Support policies for long-term lending||USD|
|Federated States of Micronesia||02B1||02B1 - Interest rate adjustments||USD|
|Federated States of Micronesia||02B2||02B2 - Other policies to support long-term lending||USD|
|Federated States of Micronesia||02C||02C - Loan guarantees||USD|
|Federated States of Micronesia||05||05 - Health and income support||USD||35,000,000||35,000,000|
|Federated States of Micronesia||05A||05A - Health support||USD||20,000,000||20,000,000||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
To address the emergency caused by COVID-19, the national government has prepared a USD20 million (or about 5% of GDP) COVID-19 Response Framework, in order to develop quarantine and isolation facilities across the nation, provide mandatory infection control training for all first responders, and increase testing capacity and ventilators for each island state in the Federated States of Micronesia.
|Federated States of Micronesia||05B||05B - Income support||USD||15,000,000||15,000,000|
|Federated States of Micronesia||05B1||05B1 - Tax and contribution deferrals and policy changes||USD|
|Federated States of Micronesia||05B2||05B2 - Tax and contribution rates reduction||USD|
|Federated States of Micronesia||05B3||05B3 - Subsidies to individuals and households||USD|
|Federated States of Micronesia||05B4||05B4 - Subsidies to businesses||USD|
|Federated States of Micronesia||05B5||05B5 - Indirect income support||USD|
|Federated States of Micronesia||05B6||05B6 - No breakdown (income support)||USD||15,000,000||15,000,000||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
22 April 2020, The government approved the economic stimulus package of USD15 million (about 3.8% of GDP). The package includes measures to support affected businesses, including wage subsidies, debt relief, as well as social security tax and other tax rebates.
|Federated States of Micronesia||05C||05C - No breakdown (health and income support)||USD|
|Federated States of Micronesia||07||07 - Central bank financing government||USD|
|Federated States of Micronesia||07A||07A - Direct lending and reserve drawdown||USD|
|Federated States of Micronesia||07B||07B - Secondary purchase: government securities||USD|
|Fiji||02||02 - Credit creation||FJD||60,000,000||27,228,172|
|Fiji||02A||02A - Financial sector lending/funding||FJD||60,000,000||27,228,172||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
The Reserve Bank of Fiji raised its Natural Disaster and Rehabilitation Facility to FJD60 million to include businesses affected by epidemics or pandemics, renaming it the Disaster Rehabilitation and Containment Facility.
|Fiji||02B||02B - Support policies for long-term lending||FJD|
|Fiji||02B1||02B1 - Interest rate adjustments||FJD||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: The Reserve Bank of Fiji reduced the overnight policy rate to 0.25% from 0.5% on 18 March 2020 to counter the economic impact of COVID-19.