|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||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||
(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.