Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Vanuatu 01 01 - Liquidity Support VUV
Vanuatu 01A 01A - Short-term lending VUV
Vanuatu 01B 01B - Support policies for short-term lending VUV
Vanuatu 01C 01C - Forex operations VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: 31 March 2020, The Reserve Bank of Vanuatu maintains an official foreign exchange reserves above a minimum threshold of 4 months of import cover.

Vanuatu 02 02 - Credit creation VUV
Vanuatu 02A 02A - Financial sector lending/funding VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 23 July 2020). Daily Post Vanuatu. https://dailypost.vu/news/reserve-bank-of-vanuatu-announces-new-policy-facilities/article_4fa0e8a6-2515-5d5a-9ef6-ecd1c8a3fffd.html (accessed 23 July 2020)

(i) 23 July 2020, the RBV reactivated the Imports Substitution and Export Finance Facility (ISEFF) which aims to assist in improving Vanuatu’s balance of payment. Under the facilities, domestic lending institutions/commercial banks can obtain low cost back-to-back loan/credit from the RBV for the purpose of on-lending to eligible exporters and businesses catering for import substitution.

Vanuatu 02B 02B - Support policies for long-term lending VUV
Vanuatu 02B1 02B1 - Interest rate adjustments VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 23 July 2020).

No amount/estimate: (i) 27 March 2020, The Reserve Bank of Vanuatu (RBV) cut its policy rate from 2.9% to 2.25%

Vanuatu 02B2 02B2 - Other policies to support long-term lending VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 23 July 2020).

(i) 23 July 2020, the RBV reduced commercial banks’ Capital Adequacy Ratio (CAR) from 12.0% to 10.0%.

Vanuatu 02C 02C - Loan guarantees VUV
Vanuatu 03 03 - Direct long-term lending VUV 1,500,000,000 12,747,514
Vanuatu 03A 03A - Long-term lending VUV 1,500,000,000 12,747,514 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

(i) 27 March 2020, the Vanuatu National Provident Fund (VNPF) offered a VUV800 million worth of Hardship Loans, an interest-free withdrawal from a member’s account for 6 months of up to VUV100,000, after which the member either choses a repayment plan with interest or permanently withdraws the funds with a penalty, to approximately 15,000 members; (ii) 15 April 2020, It was estimated that about VUV1.2 billion (about USD10.4 million) would be released to up to 20,000 members; (iii) By the time the Hardship Loan facility closed on 2 May 2020, it was estimated that the VNPF had paid out VUV1.5 billion in total.

Vanuatu 03B 03B - Forbearance VUV
Vanuatu 04 04 - Equity support VUV
Vanuatu 05 05 - Health and income support VUV 4,400,000,000 37,392,708
Vanuatu 05A 05A - Health support VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: (i) The government, using its existing budget envelope with help from Australia, the People's Republic of China (PRC), New Zealand, UNICEF, WHO, other NGOs/CSOs and some local businesses, is (a) expanding health facilities; (b) restocking personal protective equipment and supplies; and (c) further training healthcare workers, especially in Port Vila; and (d) spending on community education and awareness; (ii) With the assistance of Australia, France, and New Zealand, COVID-19 tests are analyzed in the French special collectivity of New Caledonia as needed.

Vanuatu 05B 05B - Income support VUV 4,400,000,000 37,392,708
Vanuatu 05B1 05B1 - Tax and contribution deferrals and policy changes VUV
Vanuatu 05B2 05B2 - Tax and contribution rates reduction VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 17 September 2020).

(i) Deferred and cancelled taxes, license fees and charges for businesses in 2020. Backdating to start of 2020 some reductions resulting from forthcoming business license reforms.

Vanuatu 05B3 05B3 - Subsidies to individuals and households VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 17 September 2020).

(i) Lights and cover arrival and short-term quarantine costs in Port Vila of repatriated ni-Vanuatu before they return to their homes elsewhere in Vanuatu; (ii) Secondary school tuition fees are suspended for 2020.

Vanuatu 05B4 05B4 - Subsidies to businesses VUV 2,900,000,000 24,645,194 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 17 September 2020).

(i) the Employment Stabilization Payment (reimbursing employers up to VUV30,000 per employee per month for 4 months; plus an additional 12% to the employer, with payments totalling VUV2.5 billion, which is already reflected in the VUV4.4 billion amount); (ii) Small and medium enterprises (SME) with turnover of less than VUV200 million will also receive the value of their business license fees (around VUV400 million in total); price-based subsidies if needed to support producers of copra, kava, cocoa and other commodities; (iii) No amount/estimate: Support to the transport sector to facilitate farmers’ access to major market centres such as Port Vila and Luganville.

Vanuatu 05B5 05B5 - Indirect income support VUV
Vanuatu 05B6 05B6 - No breakdown (income support) VUV 1,500,000,000 12,747,514 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 17 September 2020).

(i) 31 March 2020, A first-stage fiscal package worth VUV4.4 billion (roughly 4.2% of GDP) was announced. It includes the measures as disaggregated above, with no complete breakdown on amount per measure. Amounts are presented when available.

Vanuatu 05C 05C - No breakdown (health and income support) VUV
Vanuatu 06 06 - Budget reallocation VUV
Vanuatu 07 07 - Central bank financing government VUV
Vanuatu 07A 07A - Direct lending and reserve drawdown VUV
Vanuatu 07B 07B - Secondary purchase: government securities VUV
Vanuatu 08 08 - International Assistance Received VUV 2,639,504,177 22,431,411
Vanuatu 08A 08A - Swaps VUV
Vanuatu 08B 08B - International loans/grants VUV 2,639,504,177 22,431,411
Vanuatu 08B1 08B1 - Asian Development Bank VUV 453,029,500 3,850,000 ADB. Table A1.4 Asia Pacific Disaster Response Fund and Technical Assistance, Table A1.5: Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (all accessed as of 5 February 2021).

(i) 15 April 2020, USD0.02 million announced by the ADB as part of the Strengthening Social Protection in the Pacific program. On 24 July 2020, additional USD0.04 million co-financing under the same program; (ii) 24 April 2020, USD0.13 million allocated by the ADB as additional funding to Vanuatu under the Regional Project on Developing the Pacific Health Sector; (iii) 5 June 2020, USD0.14 million in financing under the Pacific Economic Management, Phase 3 project; (iv) 19 July 2020, USD0.9 million allocation under TA9950-REG: Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases. As of 30 January 2021, this has been increased to USD1.04 million [update]; (v) 24 July 2020, USD0.21 million under the regional project, Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 3); (vi) 29 July 2020, USD1.5 million funding under the COVID-19 Emergency Response; (vii) 10 August 2020, USD0.35 million under the regional project, Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (viii) 12 August 2020, USD0.11 million under the regional project, Support for Gender Sensitive Responses to COVID-19 in the Pacific Developing Member Countries; (ix) 17 December 2020, USD0.35 million from the regional project, Supporting Recovery by Micro, Small and Medium-sized Enterprises in the Pacific from the Effects of the COVID-19 Pandemic.

Vanuatu 08B2 08B2 - Other VUV 2,186,474,677 18,581,411 ABC News. https://www.abc.net.au/news/2020-05-20/australia-financial-support-pacific-governments-cyclone-pandemic/12262328 (accessed 28 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19; World Bank. https://www.worldbank.org/en/news/press-release/2020/04/27/us10m-emergency-world-bank-funding-for-vanuatu (both accessed 7 May 2020). UNDP. http://mptf.undp.org/factsheet/project/00121530 (accessed 22 May 2020).

No amount/estimate: (i) With help from Australia, The PRC, New Zealand, UNICEF, WHO, other NGOs/CSOs and some local businesses, Vanuatu is expanding health facilities, restocking personal protective equipment and supplies, and further training healthcare workers, especially in Port Vila; and spending on community education and awareness; (ii) With the assistance of Australia, France and New Zealand, COVID-19 tests are analyzed in the French special collectivity of New Caledonia as needed; (iii) 27 April 2020, The World Bank has delivered USD10 million (VUV1.2 billion) in emergency funding to Vanuatu to support the country’s response to the combined impacts of the global COVID-19 (coronavirus) pandemic and Tropical Cyclone Harold; (iv) 14 May 2020, USD0.3 million in support from the United Nations Development Group from the UN COVID-19 Response & Recover fund; (iv) 20 May 2020, AUD13 million in quick financial support from Australia to support Pacific countries hit by both the recent cyclone and pandemic.

Vanuatu 09 09 - International Assistance Provided VUV
Vanuatu 09A 09A - Swaps VUV
Vanuatu 09B 09B - International loans/grants VUV
Vanuatu 10 10 - No breakdown VUV
Vanuatu 11 11 - Other Economic Measures VUV
Vanuatu 12 12 - Non-Economic Measures VUV
Vanuatu 12A 12A - Measures affecting travel and transport (local and international) VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

(i) The government has (a) closed all ports of entry for international flights and cruise ships; (b) suspended departures for seasonal worker programs to Australia and New Zealand (with optional repatriation of workers already abroad); (ii) Domestic flights and ferries resumed on 11 April 2020, also in response to the aftermath of TC Harold; (iii) From 12 May 2020, international flights and vessels carrying international relief supplies or cargo can enter, provided they comply with Vanuatu’s COVID-19 prevention and containment measures

Vanuatu 12B 12B - Measures affecting business and workplace VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

(i) Established curfews for businesses and transport, but not essential medical and communication services.

Vanuatu 12C 12C - Others VUV IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

(i) 26 March 2020, a national State of Emergency (SOE) was declared for a two-week period, which was extended for a 30-day period on 11 April 2020 and then again on 11 May 2020, for the dual purposes of continuing COVID-19 prevention and containment measures as well as responding to Tropical Cyclone (TC) Harold which impacted Vanuatu on 6-7 April 2020; (ii) Quarantine and self isolation measures; (iii) Closed all schools until further notice; (iv) Banned gatherings of more than 5 people (suspended temporarily as of 5 April 2020 to allow for group sheltering caused by TC Harold and its aftermath); (v) Ecouraging social distancing; (vi) All public schools reopened on 18 May 2020; (vii) From 3 June 2020, the government began repatriation of its citizens and residents stranded abroad after strengthening in-country COVID-19 screening, testing and containment measures; (viii) The second phase of government’s repatriation plan has resumed in August and is expected to continue until December 2020; (ix) 18 September 2020, the Government confirmed that targeted testing repatriates from in quarantine for COVID-19 is being conducted as an additional precaution for those entering Vanuatu from areas classified as high risk countries.