|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||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||05||05 - Health and income support||AFN||43,571,630,000||553,700,060||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 17 September 2020).||
According to the mid-year budget revision to be submitted to parliament in September, authorities envisage a total of 2.9% of GDP for pandemic-related spending, with about 15% directed to health.
|Afghanistan||05A||05A - Health support||AFN||6,535,744,500||83,055,009||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.
|Afghanistan||05B||05B - Income support||AFN||37,035,885,500||470,645,051||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 26 June 2020).||
No amount/estimate: To ease tax compliance, the government extended filing deadlines, initially to May 20, now to July 5 for individual and business taxpayers.
|Afghanistan||09||09 - International Assistance Provided||AFN|
|Afghanistan||09A||09A - Swaps||AFN|
|Afghanistan||09B||09B - International loans/grants||AFN|
|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 July 15, trade with India through Wagah border post in Pakistan resumed.
|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 30 September 2020).||
(i) No amount/estimate: The Central Bank of Armenia (CBA) reduced the policy rate by another 25 bps to 5% on April 28. The interbank market has been active, and the central bank has easily met liquidity needs so far; (ii) June 17, The CBA further reduced the policy rate by 50 bps to 4.5%. As of September 15, this rate was further reduced to 4.25%. [update]
|Armenia||02C||02C - Loan guarantees||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||09||09 - International Assistance Provided||AMD|
|Armenia||09A||09A - Swaps||AMD|
|Armenia||09B||09B - International loans/grants||AMD|
|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)||
May 14, Temporary restrictions on the export of medical masks, gloves and goggles, biohazard suits, medical robes, antiviral medicines, gauze and other medical products.
|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 01 October 2020); Central Bank of Azerbaijan (CBA). https://www.cbar.az/press-release-2527/on-extension-of-blanket-guarantee?language=en (accessed on 23 June 2020); CBA. https://www.e-cbar.az/News/Info/2674878?culture=en (accessed on 23 June 2020); CBA. https://www.cbar.az/press-release-2644/on-parameters-of-interest-rate-corridor (accessed 23 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 interest rate cap for national currency denominated deposits 10% and for foreign currency denominated deposits 2.5%) irrespective of deposits’ amount, currency and banks’ financial standing; (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; (v) June 19, CBA decided to reduce the discount rate from 7.25% to 7%. The lower limit of the interest rate corridor was set at 6.5%, and the upper limit of the interest rate corridor was set at 7.5%; (vi) September 18, Azerbaijan has lowered its interest rates by 0.25 percentage points, from 6.75% to 6.5% [update].
|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 01 October 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); Ministry of Economy. https://www.economy.gov.az/en/article/elektron-kredit-platformasi-sahibkarlarin-kredit-uchun-muracietlerini-asanlashdirib/31075 (accessed 27 July 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||05||05 - Health and income support||AZN||1,206,850,000||709,911,765|
|Azerbaijan||05A||05A - Health support||AZN||58,300,000||34,294,118||Ministry of Emergency Situations. http://www.fhn.gov.az/index.php?eng/news/xeber/2020/7/6/36724//1 (accessed 17 July 2020); Cabinet of Ministers. https://cabmin.gov.az/az/article/969/ (accessed 07 August 2020).||
(i) No amount/estimate: July 6, Installation of 10 modular hospital complexes in various regions of the country. It is expected to create 2,000 additional beds for the treatment of coronavirus patients; (ii) August 6, The government reported that medical personnel involved in the fight against COVID-19 received increased salaries from March to June. 64,038 medical staff have so far received salaries of AZN58.3 million; (iii) August 6, The government reported that 215 medical staff with extensive experience in COVID-19 from Turkey, the Russian Federation, People's Republic of China, Italy, and Cuba were brought to the country to work with Azerbaijan's medical personnel.
|Azerbaijan||05B||05B - Income support||AZN||1,148,550,000||675,617,647||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 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); Ministry of Economy. https://www.economy.gov.az/en/article/ozel-sektora-yeni-maliyye-desteyi-ve-i-qtisadiyyat-nazirinin-sahibkarlarla-onlayn-gorushunun-kechirileceyi-barede/31115 (accessed 07 August 2020); Ministry of Economy. https://www.economy.gov.az/en/article/ferdi-sahibkarlara-maliyye-desteyi-gosterilmesine-bashlanilib/31163 (accessed 12 August 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; (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; (v) No amount/estimate: August 6, The government announced a financial support package for pandemic-affected industries that did not implement significant reductions in the number of employees. Financial support will be paid in equal installments in two stages, covering August and September; (vi) August 11, The government announced a second phase of financial support to individual (micro) entrepreneurs. The first phase of the program has already released AZN63.55 million of cash transfers to 106,907 individual (micro) entrepreneurs.
|Azerbaijan||09||09 - International Assistance Provided||AZN||8,500,000||5,000,000|
|Azerbaijan||09A||09A - Swaps||AZN|
|Azerbaijan||09B||09B - International loans/grants||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).||
(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||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, Establishment of the Coronavirus Response Fund under the Decree of the President of the Republic of Azerbaijan of March 19, 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 July 20; (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) April 23, The CBA also announced that it will extend its guarantees on insurance premiums.
|Georgia||02||02 - Credit creation||GEL||930,000,000||305,847,382|
|Georgia||02A||02A - Financial sector lending/funding||GEL||600,000,000||197,320,891||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
May 7, Commercial banks will gain access to a long-term financial resource of GEL600 million.
|Georgia||02B||02B - Support policies for long-term lending||GEL||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 July 2020). Georgia Today. http://georgiatoday.ge/news/21972/NBG-Reduces-Monetary-Policy-Rate-by-0.25-Percentage-Points- (accessed 6 July 2020)||
(i) No amount/estimate: April 29, The National Bank of Georgia (NBG) reduced its policy rate by 50 bp; (ii) No amount/estimate: June 24, The NBG further reduced its policy rate by 25 bp; (iii) No amount/estimate: August 5, The NBG reduced its policy rate by another 25 bp, bringing the refinancing rate to 8%.
|Georgia||02C||02C - Loan guarantees||GEL||330,000,000||108,526,490||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).||
GEL330 million credit guarantee scheme for business.
|Georgia||05||05 - Health and income support||GEL||3,636,500,000||1,195,929,036|
|Georgia||05A||05A - Health support||GEL||828,500,000||272,467,264||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).||
(i) May 7, Additional funds of about GEL350 million will be directed to health spending including lab testing and quarantine expenditures as well as increased costs associated with hospitalization, medical treatment, and medical supplies. (ii) GEL478.5 million for healthcare infastructure and other virus spread prevention costs.
|Georgia||05B||05B - Income support||GEL||2,808,000,000||923,461,772||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 20 July 2020). Agenda.ge https://agenda.ge/en/news/2020/2716 (accessed 4 September 2020)||
No amount/estimate: (i) April 24, The ‘Anti-Crisis Economic Action Plan’ listed the government’s initiatives to support the population and businesses along with the measures already implemented or announced by the government, such as the payment for gas, electricity and utilities for the for users consuming up to 200 kW of electricity and/or up to 200 m3 natural gas monthly; (ii) The government introduced the State Program for Maintaining Prices of Primary Consumption Food Products. The program envisages subsidies for certain imported products to keep their local price stable (rice, pasta, buckwheat, sunflower oil, sugar, milk powder, beans, wheat, and wheat powder) for the period from 15 March to 15 May 2020; (iii) Bank loan service holidays for individuals; income and property tax holidays for hotels (until Nov 1, 2020); (iv) Within the frame of the new program “Co-financing Mechanism for Supporting Family-owned, Small and Medium-size Hotel Industries”, Enterprise Georgia (the agency of the Ministry of Economic and Sustainable Development of Georgia) will co-finance up to 80% of the annual interest rate on loans issued to family-owned, small and medium-sized hotels. As of September 4, this measure has been extended for another 6 months; (v) The custom clearance term for vehicles imported before 1 April 2020 was extended to 1 September 2020 for car importers; (vi) No amount/estimate: VAT refunds will become automatic and will accelerate; (vii) GEL2.589 billion in transfer payments to individuals, corporate subsidies, and tax relief; (viii) No amount/estimate: Starting from January 2021, the rule of indexation of pensions will be introduced. According to this rule, the pensions will increase by at least the rate of inflation, plus a premium depending on the pensioner's age; (ix) GEL160 million in one-time assistance to all children below 18; (x) GEL35 million to help students from vulnerable families to cover one semester of their university tuition; (xi) GEL24 million total benefits for the self-employed, who lost their job during the pandemic and applied for government assistance, but were refused, as they failed to provide required documents [update]; (xii) No amount/estimate: The government will cover utility costs from November to February for vulnerable sectors.
|Georgia||09||09 - International Assistance Provided||GEL|
|Georgia||09A||09A - Swaps||GEL|