Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Afghanistan 01 01 - Liquidity Support AFN
Afghanistan 01A 01A - Short-term lending AFN
Afghanistan 01B 01B - Support policies for short-term lending AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 14 April 2020).

No estimate/amount: The Financial Stability Committee is meeting regularly to assess evolving risks to the financial and monetary stability. Da Afghanistan Bank or DAB (central bank) has intensified its monitoring of banks and indicated its readiness to provide liquidity as needed.

Afghanistan 01C 01C - Forex operations AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

No amount/estimate: (i) DAB is in discussions with money-service providers, who play a systemic role in financial transactions, to ensure uninterrupted services, including transactions in foreign currency, and to encourage enhancement of their remote services given closures; (ii) DAB remains focused on price stability and is committed to exchange rate flexibility, limiting its foreign interventions to preventing excessive volatility.

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 03 03 - Direct long-term lending AFN
Afghanistan 03A 03A - Long-term lending AFN
Afghanistan 03B 03B - Forbearance AFN
Afghanistan 04 04 - Equity support AFN
Afghanistan 05 05 - Health and income support AFN 8,000,000,000 101,662,492
Afghanistan 05A 05A - Health support AFN 8,000,000,000 101,662,492 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; (ii) As of April 22, the government has already allocated a total of AFN8 billion (0.5% of GDP) for emergency pandemic response. The authorities plan to spend about 2% of GDP for critical pandemic-related spending during the year, with about one-third directed to health;

Afghanistan 05B 05B - Income support AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

No amount/estimate: To ease tax compliance, the government extended filing deadlines by 2 months, until May 20 for individual and business taxpayers.

Afghanistan 06 06 - Budget reallocation AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).

No amount/estimate: The government is working to identify nonessential spending that can be curtailed to create space for pandemic-related spending, including social relief package for the affected households and measures to prevent permanent damage to the Afghan economy.

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 08 08 - International Assistance Received AFN 61,958,912,636 787,362,181
Afghanistan 08A 08A - Swaps AFN
Afghanistan 08B 08B - International loans/grants AFN 61,958,912,636 787,362,181
Afghanistan 08B1 08B1 - Asian Development Bank AFN 3,389,253,931 43,070,000 ADB. https://www.adb.org/news/adb-president-afghanistan-president-discuss-covid-19-support-40-million-grant (accessed 14 May 2020). ADB Table A1.2: Sovereign Lending and Asian Development Fund Grant Operations, Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance, Table A1.5: Country Support under TA 9550-REG. (all accessed 12 June 2020)

(i) USD3 million - Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases; (ii) May 11, USD40 million Emergency Assistance for COVID-19 Pandemic Response grant to support the construction of 15 hospitals and medical facilities; (iii) June 3, Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (Additional Financing) - USD0.07million. [update]

Afghanistan 08B2 08B2 - Other AFN 58,569,658,705 744,292,181 IMF. https://bit.ly/2Vk0uFb (accessed 19 April 2020); IMF. https://www.imf.org/en/News/Articles/2020/04/29/pr20193-afghanistan-imf-executive-board-approves-disbursement-to-address-the-covid-19; World Bank. https://www.worldbank.org/en/news/press-release/2020/04/02/world-bank-fast-tracks-100-million-covid-19-support-for-afghanistan (both accessed 1 May 2020). WB. https://www.worldbank.org/en/news/press-release/2020/05/07/world-bank-approves-400-million-to-sustain-afghanistans-reform-momentum-mitigate-covid-19-crisis (accessed 14 May 2020). USAID. https://www.usaid.gov/news-information/coronavirus/fact-sheets/update-united-states-continues-lead-global-response-covid-19 (accessed 1 June 2020)

(i) April 14-Oct 13: IMF Catastrophe Containment And Relief Trust-Grant Assistance For Debt Service Relief, SDR2.4 million (SDR0.729/USD); (ii) April 2, The World Bank approved a USD100.4 million grant for the Afghanistan COVID-19 Emergency Response and Health Systems Preparedness Project to help Afghanistan take effective action to respond to the threat posed by COVID-19 and strengthen its public health preparedness; (iii) The IMF approved Afghanistan’s request for emergency assistance in the amount of SDR161.9 million (approximately USD220 million) under the Rapid Credit Facility; (iv) With the support of the World Bank, other development partners, and humanitarian agencies, the authorities are developing a social relief package—through cash transfers and, if impractical, in kind—to support food security among socially vulnerable households. On April 29, the government started providing free bread to about 2.5 million needy and poor people in Kabul [update]; (v) May 7, USD400 million grant from the World Bank to support the country in managing risks and uncertainties compounded by the COVID-19 crisis; (vi) As of May 26, USD18.7 million from USAID, broken down into: (a) USD7.1 million for health and IDA humanitarian assistance, (b) USD3.1 million in MRA humanitarian assistance for Afghan returnees, (c) USD10 million from redirecting existing resources to support Afghanistan's health response, (d) USD500,000 to procure COVID-19 prevention and control supplies for correctional facilities.

Afghanistan 09 09 - International Assistance Provided AFN
Afghanistan 09A 09A - Swaps AFN
Afghanistan 09B 09B - International loans/grants AFN
Afghanistan 10 10 - No breakdown AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 26 April 2020).

No amount/estimate: April 22, The government has already allocated AFN8 billion (0.5% of GDP) for emergency pandemic response. The authorities plan to spend about 2% of GDP for critical pandemic-related spending during the year (See Measure 5 under health).

Afghanistan 11 11 - Other Economic Measures AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 14 April 2020)

The government has taken steps to replace wheat imports lost due to border closures with purchases from Central Asia. 

Afghanistan 12 12 - Non-Economic Measures AFN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020)

(i) Screening at ports of entry, quarantine for infected people, and closure of public places for gathering; (ii) Quarantine for infected people; (iii) Closure of public places for gathering; (iv) Social distancing measures, including a three-week lockdown of Kabul (March 28) and Ghazni (April 1) and restricting daily movements to those deemed essentiall (v) Extended the border closures until April 9; (vi) Social distancing measures have included 20 provinces, including Kabul and some other cities, instituting lockdown measures, extended for two weeks on April 12; (vii) social distancing measures have been extended for 3 weeks on April 17; (viii) Both Houses of Afghanistan’s parliament were put on lockdown on April 29 until end of the national lockdown; (ix) The government also released over 5,300 prisoners to reduce the risk of mass infections in penitentiaries.

European Central Bank 01 01 - Liquidity Support EUR
European Central Bank 01A 01A - Short-term lending EUR OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020).

No amount/estimate: 12 March, Conducting additional longer-term refinancing operations (LTROs) temporarily (with an interest rate equal to the average rate on the deposit facility, -0.50% currently).

European Central Bank 01B 01B - Support policies for short-term lending EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 29 April 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020).

No amount/estimate: (i) The ECB also announced a broad package of collateral easing measures for Eurosytem credit operations in early April. These include a permanent collateral haircut reduction of 20 percent for non-marketable assets, and temporary measures for the duration of the PEPP (with a view to re-assess their effectiveness before the end of 2020) such as a reduction of collateral haircuts by 20 percent and expansion of collateral eligibility to include Greek sovereign bonds as well as an expansion of the scope of so-called additional credit claims framework so that it may also include public sector-guaranteed loans to SMEs, self-employed individuals, and households. In a move to mitigate the impact of possible rating downgrades on collateral availability , on April 22, the ECB also announced that it would grandfather until September 2021 the eligibility of marketable assets used as collateral in Eurosystem credit operations falling below current minimum credit quality requirements of “BBB-“ (“A-“ for asset-backed securities) as long as their rating remains at or above “BB” and “BB+”, respectively. Assets that fall below these minimum credit quality requirements will be subject to haircuts based on their actual ratings; (ii) Allow major banks (directly supervised by the ECB) to operate temporarily below the level of capital defined by the Pillar 2 Guidance (P2G), the capital conservation buffer (CCB) and the liquidity coverage ratio (LCR).

European Central Bank 01C 01C - Forex operations EUR
European Central Bank 02 02 - Credit creation EUR 4,470,000,000,000 4,944,690,265,487
European Central Bank 02A 02A - Financial sector lending/funding EUR 1,470,000,000,000 1,626,106,194,690 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020); ECB. https://www.ecb.europa.eu/press/accounts/2020/html/ecb.mg200522~f0355619ae.en.html (accessed 22 May 2020); ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp200604~a307d3429c.en.html ( accessed 9 June 2020).

(i) March 12, Adding a temporary envelope of additional net asset purchases of EUR120 billion until the end of the year; (ii) March 18, launched a new temporary asset purchase programme of private and public sector securities (Pandemic Emergency Purchase Programme, PEPP) with an overall envelope of EUR 750 billion until the end of 2020. Some self-imposed purchase limits will not apply to the PEPP. A waiver of the eligibility requirements for securities issued by the Greek government will be granted for purchases under PEPP. Based on The European Central Bank is “fully prepared” to provide even more stimulus as soon as June to support an economy that may shrink by a tenth this year due to the COVID-19 pandemic, the accounts of the bank’s April meeting showed on Friday; (iii) expanding the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper; (iv) June 4, The PEPP envelope will be increased by EUR600 billion to a total of EUR1,350 billion. The purchases will continue to be conducted in a flexible manner over time, across asset classes and among jurisdictions. This allows the Governing Council to effectively stave off risks to the smooth transmission of monetary policy. The horizon for net purchases under the PEPP will be extended to at least the end of June 2021. In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over [update].

European Central Bank 02B 02B - Support policies for long-term lending EUR 3,000,000,000,000 3,318,584,070,796 EC. https://www.ecb.europa.eu/mopo/implement/omt/html/cspp-qa.en.html (accessed 15 April 2020); EC. https://www.ecb.europa.eu/press/blog/date/2020/html/ecb.blog200409~3aa2815720.en.html (accessed 18 April 2020); EC. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr200430_1~477f400e39.en.html [accessed 3 May 2020]; EC. https://www.ecb.europa.eu/mopo/implement/omo/html/index.en.html (accessed 30 April 20202); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 18 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020).

(i) March 12, Lowering the interest rate applied in targeted longer-term refinancing operations (TLTRO III) during the period from June 2020 to June 2021 (25 basis points below the average rate applied in the Eurosystem's main refinancing operations). The targeted longer-term refinancing operations (TLTROs) are Eurosystem operations that provide financing to credit institutions. By offering banks long-term funding at attractive conditions they preserve favourable borrowing conditions for banks and stimulate bank lending to the real economy. It is estimated that the facility could provide up to around EUR3 trillion in at a negative rate, which can be as low as -0.75%, the lowest rate ECB ever offered. On April 30, ECB lowered the rate on the third round of targeted longer-term refinancing operations (TLTRO III) to -1% from -0.75%. On the same day, ECB decided to conduct a series of seven pandemic emergency longer-term refinancing operations (PELTROs) to provide liquidity support to the euro area financial system and ensure smooth money market conditions during the pandemic period. No amount/estimate: (ii) relaxation of countercyclical capital buffer (CCyB); (iii) March 20, Flexibility in treatment of non-performing loans (NPLs) to allow banks to fully benefit from public guarantees and moratoriums and of banks' implementation of NPL reduction strategies; (iv) March 27, requirement for banks not to pay dividends until at least 1 October 2020.; (v) see (ii) on CCB in Measure 1; (vi) April 28, the European Commission proposed a number of changes to the Capital Requirements Regulation (Regulation (EU) 575/2013) to provide temporary capital relief to banks. These changes include inter alia extending by 2 years the current transitional arrangements for mitigating the impact of IFRS 9 provisions on regulatory capital, a later date of application of the leverage ratio buffer for global systemically important institutions, a more favourable treatment of publicly guaranteed loans under the NPL prudential backstop (the minimum loss coverage requirement for non-performing loans), and advancing the date of application of capital reduction factors in respect of certain loans to SMEs or in support of infrastructure investments; (vii) No amount/estimate: April 30, New series of non-targeted pandemic emergency longer-term refinancing operations, conducted as fixed rate tender procedures with full allotment, rate fixed at 25bp below refi rate. Operations mature in staggered sequence between July-September 2021.

European Central Bank 02C 02C - Loan guarantees EUR
European Central Bank 03 03 - Direct long-term lending EUR
European Central Bank 03A 03A - Long-term lending EUR
European Central Bank 03B 03B - Forbearance EUR
European Central Bank 04 04 - Equity support EUR