|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|
|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||07||07 - Central bank financing government||AFN|
|Afghanistan||07A||07A - Direct lending and reserve drawdown||AFN|
|Afghanistan||07B||07B - Secondary purchase: government securities||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||108,000,000,000||6,872,426,816|
|Arab Republic of Egypt||02A||02A - Financial sector lending/funding||EGP|
|Arab Republic of Egypt||02B||02B - Support policies for long-term lending||EGP|
|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).||
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%.
|Arab Republic of Egypt||02B2||02B2 - Other policies to support long-term lending||EGP||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;
|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||07||07 - Central bank financing government||EGP|
|Arab Republic of Egypt||07A||07A - Direct lending and reserve drawdown||EGP|
|Arab Republic of Egypt||07B||07B - Secondary purchase: government securities||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|
|Argentina||02B||02B - Support policies for long-term lending||ARS|
|Argentina||02B1||02B1 - Interest rate adjustments||ARS||Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 November 2020).||
13 November 2020, raised the benchmark Leliq rate to 38% from 36%, along with increases in repo rates and retail certificate deposits.
|Argentina||02B2||02B2 - Other policies to support long-term lending||ARS||BCRA. https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-creditos-mipymes.asp (Accesed 27 April 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020).||
No amount/estimate: (i) Provided new incentives for financial entitites to increase their loans to micro, small, and medium-sized enterprises (MiPyMEs) for the payment of salaries, as long as those entities are payment agents of the company that requests it; (ii) the Central Bank also temporarily added 60 days to each category of debtor in arrears; (iii) Developed the Conformed Invoice as a credit instrument to discount in financial entities or the capital market.
|Argentina||02C||02C - Loan guarantees||ARS||34,000,000,000||541,832,669||BCRA. https://www.argentina.gob.ar/coronavirus/medidas-gobierno (Accessed 27 April 2020). Government of Argentina. https://www.argentina.gob.ar/noticias/el-gobierno-anuncio-una-linea-de-creditos-para-pymes-turisticas-con-un-ano-de-gracia-y-tasa (accessed 30 October 2020).||
No amount/estimate: (i) See (i) in Actions that increase liabilities in Measure 1; (ii) Created a Special Affectation Fund, which will transfer ARS30 billion to the Argentine Guarantee Fund. The guarantees have the objective of facilitiating the repayment of loans for working capital. Eligible parties include companies listed in the small and medium-sized enterprise registry (MiPyMES Registry); (iii) No amount/estimate: FOGAR provides a guarantee that covers 100% of the credit in (iv) of Measure 1A; (iv) 13 October 2020, ARS3 billion in (viii) of Measure 3A.
|Argentina||07||07 - Central bank financing government||ARS|
|Argentina||07A||07A - Direct lending and reserve drawdown||ARS|
|Argentina||07B||07B - Secondary purchase: government securities||ARS|
|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||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|
|Armenia||02B1||02B1 - Interest rate adjustments||AMD||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 December 2020).||
(i) No amount/estimate: 28 April 2020, The Central Bank of Armenia (CBA) reduced the policy rate by 25 bps to 5%. On 17 June 2020, this rate was further reduced by 50 bps to 4.5%. On 15 September 2020, this rate was reduced to 4.25%, where it has since remained unchanged.
|Armenia||02B2||02B2 - Other policies to support long-term lending||AMD|
|Armenia||02C||02C - Loan guarantees||AMD|
|Armenia||07||07 - Central bank financing government||AMD|
|Armenia||07A||07A - Direct lending and reserve drawdown||AMD|
|Armenia||07B||07B - Secondary purchase: government securities||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)||
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||02||02 - Credit creation||AUD||255,000,000,000||158,558,999,891|
|Australia||02A||02A - Financial sector lending/funding||AUD||215,000,000,000||133,686,999,908||RBA. https://www.rba.gov.au/mkt-operations/term-funding-facility/ (accessed 16 April 2020); Department of Treasury. https://treasury.gov.au/sites/default/files/2020-05/Overview-Economic_Response_to_the_Coronavirus_3.pdf (accessed 3 June 2020); Department of Treasury. https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/government-invest-15b-support-sme-lending (accessed 3 June 2020); RBA. https://www.rba.gov.au/covid-19/ (accessed 03 June 2020); RBA. https://www.rba.gov.au/media-releases/2020/mr-20-20.html (accessed 01 September 2020).||
(i) April 2020, The government is allocating up to AUD15 billion to invest in residential mortgage-backed securities and asset-backed securities to help funding for small banks and non-bank financial institutions; (ii) April 2020, To allow banks to lend more to small and medium enterprises (SMEs) during the period of disruption caused by COVID-19, RBA has established a Term Funding Facility (TFF) of at least AUD90 billion for SMEs lending (TFF will offer three-year funding to authorized deposit-taking institutions [ADIs]). On 1 September 2020, RBA announced an expansion to the TFF. ADIs will have access to additional funding, equivalent to 2% of their outstanding credit, at a fixed rate of 25 basis points for three years. ADIs will be able to draw on this extra funding up until the end of June 2021. As of 1 September 2020, ADIs have drawn AUD52 billion under the TFF. The current expansion brings the total amount available under this facility to around AUD200 billion.