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
Afghanistan 02B1 02B1 - Interest rate adjustments AFN
Afghanistan 02B2 02B2 - Other policies to support 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 40,700,000,000 517,207,927 UNESCAP. https://www.unescap.org/sites/default/files/Afghanistan_COVID%20Country%20profile%20041120.pdf (accessed 5 December 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 6,200,000,000 78,788,431 UNESCAP. https://www.unescap.org/sites/default/files/Afghanistan_COVID%20Country%20profile%20041120.pdf (accessed 5 December 2020)

(i) As of 27 August 2020, The government has so far allocated AFN6.2 billion in the budget for emergency health needs, such as (a) establishing testing labs, including at border crossings, (b) boosting hospitalization and care capacity, and (c) procuring the most critical medical supplies.

Afghanistan 05B 05B - Income support AFN 32,200,000,000 409,191,530
Afghanistan 05B1 05B1 - Tax and contribution deferrals and policy changes AFN UNESCAP. https://www.unescap.org/sites/default/files/Afghanistan_COVID%20Country%20profile%20041120.pdf (accessed 5 December 2020)

(i) No amount/estimate: 20 March 2020, The government extended filing deadlines, initially to 3 April, now to 5 July for individual and business taxpayers; (ii) No amount/estimate: 20 March 2020, The government deferred the payment of taxes for all individuals and businesses for two months, until 20 May 2020.

Afghanistan 05B2 05B2 - Tax and contribution rates reduction AFN
Afghanistan 05B3 05B3 - Subsidies to individuals and households AFN 32,200,000,000 409,191,530 UNESCAP. https://www.unescap.org/sites/default/files/Afghanistan_COVID%20Country%20profile%20041120.pdf (accessed 5 December 2020)

As of 27 August 2020, the following amounts have been spent/included in the budget amendment: (i) AFN20.8 billion for the provision of social relief packages – cash transfers or in-kind – to support vulnerable households. Waived electricity bills of less than AFN1,000 for a family residence in Kabul for two months and paid utility bills of the past two months for 50% of households in Kabul; (ii) AFN2.8 billion for the provision of wheat and flatbread to IDPs and daily wage earners; (iii) AFN1.7 billion for a wheat purchase program; (iv) AFN6.9 billion to support farmers as well as other short-term laborers.

Afghanistan 05B4 05B4 - Subsidies to businesses AFN
Afghanistan 05B5 05B5 - Indirect income support AFN
Afghanistan 05B6 05B6 - No breakdown (income support) AFN
Afghanistan 05C 05C - No breakdown (health and income support) AFN 2,300,000,000 29,227,966 UNESCAP. https://www.unescap.org/sites/default/files/Afghanistan_COVID%20Country%20profile%20041120.pdf (accessed 5 December 2020)

27 August 2020, AFN2.3 billion in transfers to provinces to finance their COVID-19 responses.

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 15 July 2020, trade with India through Wagah border post in Pakistan resumed.

Arab Republic of Egypt 02 02 - Credit creation EGP 225,000,000,000 14,317,555,866
Arab Republic of Egypt 02A 02A - Financial sector lending/funding EGP
Arab Republic of Egypt 02B 02B - Support policies for long-term lending EGP 117,000,000,000 7,445,129,051
Arab Republic of Egypt 02B1 02B1 - Interest rate adjustments EGP Reuters. https://www.reuters.com/article/egypt-cenbank/update-2-egypts-central-bank-cuts-interest-rates-by-50-basis-points-idINL8N2HY85S (accessed 13 November 2020); Egypt Independent. https://www.egyptindependent.com/egypt-cuts-interest-rates-by-50-bps-as-inflation-subsides/ (accessed 1 October 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020); Reuters. https://www.reuters.com/article/egypt-cenbank-int/egypts-central-bank-keeps-key-interest-rates-on-hold-statement-idUSKBN2A427X (accessed 11 February 2021).

No amount/estimate: (i) 20 March 2020, The central bank has reduced the policy rate by 300 bps to 9.25%; (ii) 24 March 2020, preferential interest rate on loans to tourism has been reduced from 10% to 5%, for SMEs. As of 24 June 2020, this measure has already been reversed; (iii) 24 March 2020, preferential interest rate on loans to industry and housing for low-income and middle-class families has been reduced from 10% to 8%. As of 24 June 2020, the new rate now applies to tourism, industry, agriculture and construction sectors as well; (iv) 25 September 2020, The Egyptian Central Bank's Monetary Policy Committee (MPC) reduced its overnight rates by 50bps each, with the lending rate down to 9.75% and the deposit rate down to 8.75%; (v) 12 November 2020, These rates were again reduced by 50bps each, with the overnight lending rate now down to 9.25% and the overnight deposit rate down to 8.25%; (vi) 5 February 2021, the Central Bank has made announcements that it has kept its key interest rates on hold.

Arab Republic of Egypt 02B2 02B2 - Other policies to support long-term lending EGP 117,000,000,000 7,445,129,051 Daily News Egypt. https://dailynewsegypt.com/2021/02/23/banks-to-inject-egp-117bn-into-msmes-until-2022-end-cbe/ (accessed 25 February 2021); Reuters. https://www.reuters.com/article/egypt-banks/update-1-egypts-central-bank-bans-banks-from-paying-dividends-to-shareholders-idUSL1N2JN0LO (accessed 14 January 2021); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

(i) Regulations issued last year requiring banks to obtain detailed information of borrowers have been relaxed; (ii) Suspension of credit score blacklists for irregular clients and waiver of court cases for defaulted customers have been announced; (iii) 12 January 2021, Egypt's central bank bans banks from paying dividends to shareholders to protect capital amid the COVID-19 crisis; (iv) 23 February 2021, The Central Bank of Egypt (CBE) has directed banks to increase their lending to small- and medium-sized enterprises (MSMEs) from 20% to 25% of the bank's credit facilities portfolio. This is expected to inject EGP117 billion into MSMEs until the end of December 2022. [update]

Arab Republic of Egypt 02C 02C - Loan guarantees EGP 108,000,000,000 6,872,426,816 Central Bank of Egypt. https://www.cbe.org.eg/_layouts/download.aspx?SourceUrl=%2FHighlights%2520Documents%2FCircular%2520dated%252016%2520June%25202020%2520regarding%2520tourism%2520sector%2520initiative%2520financing%2520payroll%2520guaranteed%2520by%2520the%2520Ministry%2520of%2520Finance.pdf (accessed 19 June 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 19 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 August 2020).

(i) EGP3 billion of loan guarantees by the government has been announced for the tourism industry soft loans; (ii) EGP100 billion of loan guarantees from the Central Bank to cover lending at preferential rates to the manufacturing, agriculture and contracting industries; (iii) 16 June 2020, EGP3 billion in loan guarantees to the Tourism sector; (iv) As of 30 July 2020, an EGP2 billion guarantee fund has been formed to guarantee mortgages and consumer loans.

Arab Republic of Egypt 05 05 - Health and income support EGP 113,106,000,000 7,197,339,884 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).
Arab Republic of Egypt 05A 05A - Health support EGP 9,333,900,000 593,949,488 Financial Regulatory Agency. http://www.fra.gov.eg/content/efsa_ar/efsa_news/efsa_943.htm (accessed 25 February 2021); Anadolu Agency. https://www.aa.com.tr/en/middle-east/egypt-starts-covid-19-vaccination/2121613 (accessed 28 January 2021); Ahram Online. http://english.ahram.org.eg/NewsContent/1/64/388732/Egypt/Politics-/EGP--million-disbursed-to-support-doctors-infected.aspx (accessed 29 October 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).

(i) 22 March 2020, EGP8 billion has been allocated to support the healthcare sector, targeted at providing urgent and necessary medical supplies, and disbursing bonuses for medical staff working in quarantine hospitals and labs; (ii) 22 March 2020, To support medical professionals, including doctors working in university hospitals, a 75% allowance over the wages has been announced; (iii) 24 March 2020, EGP1 billion (USD63.5 million) additional funding was announced, specifically for health services and various measures to increase the country’s capacity to absorb the sudden increase of critical patients that the outbreak might bring; (iv) 2 April 2020, additional USD7.9 million designated for emergency response activities related to the COVID-19 outbreak; (v) 19 October 2020, The Egyptian Doctors Syndicate announced that it has disbursed EGP71 million to support almost 3,600 doctors who have been infected by the coronavirus since February. The syndicate added that it also disbursed EGP5 million to support the families of the doctors who died of COVID-19; (vi) 25 January 2021, Egypt started its COVID-19 vaccination plan; (vii) 1 February 2021, the Financial Regulatory Authority contributed EGP250 million to the disaster response account called "Long Live Egypt," aimed at providing the new coronavirus vaccine to those who are unable to pay. [update]

Arab Republic of Egypt 05B 05B - Income support EGP 102,600,000,000 6,528,805,475
Arab Republic of Egypt 05B1 05B1 - Tax and contribution deferrals and policy changes EGP 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 23 July 2020).

(i) No amount/estimate: The moratorium on the tax law on agricultural land has been extended for 2 years; (ii) No amount/estimate: Capital gains tax has been postponed until further notice; (iii) No amount/estimate: Three months extension for the payment of property taxes for companies in the industrial and tourism sector; (iv) No amount/estimate: Extension of the individuals’ annual tax return filing deadline to 16 April instead of 31 March, and exemption of the tax returns online filing subscription fee for the use of the Egyptian Tax Authority online filing portal; (v) No amount/estimate: A Corona tax of 1% on all public and private sector salaries and 0.5% on state pensions have been imposed, the proceeds of which are earmarked for sectors and SMEs most affected by the pandemic;

Arab Republic of Egypt 05B2 05B2 - Tax and contribution rates reduction EGP 5,300,000,000 337,257,983 Egyptian Customs Authority. https://customs.gov.eg/Media/News/Details/18aa02e5-3c2c-4686-ac2f-c020e8982926 (accessed 24 September 2020). Central Bank of Egypt. https://www.cbe.org.eg/en/Pages/HighlightsPages/Circular-dated-21-June-2020-regarding-extending-the-period-of-exempting-local-transfers-in-EGP-from-all-fees-&-commissions-.aspx (accessed 24 June 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 23 July 2020).

(i) No amount/estimate: The stamp duty on transactions and tax on dividends have been reduced; (ii) 17 June 2020, EGP5.3 billion in exemptions to natural gas consumers from penalty fine for late payments; (iii) No amount/estimate: 21 June 2020, Extended until 15 September 2020, the exemption from all fees & commissions for local transfers in EGP. On 15 September 2020, this was again extended until 21 December 2020; (iv) 18 September 2020, Reduction in customs duties by rates exceeding 50% of their current levels on some components of the furniture, petrochemical and durable electrical appliances industries such as refrigerators and televisions, as well as for mass transit vehicles and vehicle supply stations with electric and gas power.

Arab Republic of Egypt 05B3 05B3 - Subsidies to individuals and households EGP 3,300,000,000 209,990,819 Ministry of Social Solidarity. https://www.moss.gov.eg/ar-eg/Pages/news-details.aspx?nid=2003 (accessed 19 November 2020), https://www.moss.gov.eg/ar-eg/Pages/news-details.aspx?nid=1917 (accessed 17 September 2020); Ministry of Petroleum. https://www.petroleum.gov.eg/ar-eg/media-center/news/news-pages/Pages/mop_02092020_02.aspx (accessed 17 September 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 23 July 2020). Daily News Egypt. https://dailynewsegypt.com/2020/10/21/prime-minister-approves-salary-rise-for-egyptian-teachers/ (accessed 5 November 2020).

(i) No amount/estimate: 22 March 2020, Pension benefits have been increased by 14%; (ii) No amount/estimate: 22 March 2020, Expansion of the targeted cash transfer social programs, Takaful and Karama, are also being extended to reach more families; (iii) No amount/estimate: 22 March 2020, A targeted support initiative for irregular workers in most severely hit sectors has been announced, which will entail EGP500 in monthly grants for 3 months; (iv) EGP50 million allocated by the Ministry of Workforce for irregular workers, including women, who lost their job due to the coronavirus; (v) No amount/estimate: 23 July 2020, the new consumer spending initiative will also include discounts on selected consumer goods, the details of which are yet to be announced; Bonus for workers in the petroleum sector worth 12% of the basic wage for a worker on 30 June 2020, with a minimum of EGP75 added to the basic wage. Bonus for workers in the workers in "the shareholding corporate sector" side of the petroleum industry get a bonus worth 12% of their basic wages with a minimum of EGP75 and a maximum of EGP300; (vi) EGP500 support total for tour guides. Disbursement begins with an EGP100 disbursement on 8 September 2020; (vii) 10 October 2020, EGP2.3 billion in support to state employees through salary hikes between EGP50 and EGP55; (viii) 27 October 2020, EGP1 billion to support equal educational opportunities for students. This includes support for one million school students from families who have been rejected from the Takaful program, bringing the total number of students who are supported to 4.4 million students, of whom 2.4 million students are supported through the Takaful program and 2 million students are rejected from the program.

Arab Republic of Egypt 05B4 05B4 - Subsidies to businesses EGP 53,000,000,000 3,372,579,826 Arab News. https://www.arabnews.com/node/1812891/business-economy (accessed 25 February 2021); Ministry of Petroleum. https://www.petroleum.gov.eg/ar-eg/media-center/news/news-pages/Pages/mop_13012021_02.aspx (accessed 25 February 2021); Arab News. https://www.arabnews.com/node/1787126/business-economy (accessed 4 January 2020); Ministry of Petroleum. https://www.petroleum.gov.eg/ar-eg/media-center/news/news-pages/Pages/mop_17062020_01.aspx (accessed 19 June 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).

(i) EGP1 billion in arrears will be paid out to exporters; (ii) No amount/estimate: 22 March 2020, Energy costs have been lowered for the entire industrial sector; (iii) No amount/estimate: 22 March 2020, Real estate tax relief has been provided for industrial and tourism sectors, (iv) No amount/estimate: 22 March 2020, Subsidy pay-out for exporters has been stepped up, and discount on fuel price has been announced for the aviation sector; (v) 22 March 2020, EGP50 billion of the EGP91 billion stimulus has been announced for the tourism sector, which contributes close to 12% of Egypt’s GDP, 10% of employment, and almost 4% of GDP in terms of receipts, as of 2019; (vi) EGP1 billion in arrears will be paid out by The Export Subsidy Fund in March and April 2020, plus 10% in cash payments to exporters in June 2020; (vii) No amount/estimate: 4 January 2020, Government will bear the financing for the loan on the same date in Measure 3A until the airline can report to 80% of its pre-COVID capacity; (viii) 21 January 2021, The Minister of Petroleum and Mineral Resources announced support for the tourism sector (including aviation), with measures such as discounts on the price of fuel for up to 15 cents a gallon in order to contribute to meet the challenges posed by the pandemic on these two vital sectors; (ix) 21 February 2021, EGP2 billion in tranches from the Central Bank of Egypt to support the tourism sector amidst the pandemic. The Egyptian Central Bank said that the scheme will apply to financing the replacement and renewal of tourism facilities that already exist and not those under construction. [update]

Arab Republic of Egypt 05B5 05B5 - Indirect income support EGP
Arab Republic of Egypt 05B6 05B6 - No breakdown (income support) EGP 41,000,000,000 2,608,976,847 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).

Multiple packages have been announced by the government to mitigate the economic impact of COVID-19, totalling about EGP91 billion for nonhealth measures, EGP41 billion of which have no breakdown. This is part of the EGP102.18 billion (1.8% of GDP) announced on 22 March 2020 as the total of stimulus policies to be enacted by the government to mitigate the economic impact of COVID-19.

Arab Republic of Egypt 05C 05C - No breakdown (health and income support) EGP 1,172,100,000 74,584,921 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).

Measure 5C covers the remaining measure amount from the EGP102.18 billion with no breakdown.

Arab Republic of Egypt 09 09 - International Assistance Provided EGP
Arab Republic of Egypt 09A 09A - Swaps EGP
Arab Republic of Egypt 09B 09B - International loans/grants 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 02 02 - Credit creation ARS 34,000,000,000 541,832,669
Argentina 02A 02A - Financial sector lending/funding ARS