|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Cook Islands||01||01 - Liquidity Support||NZD|
|Cook Islands||01A||01A - Short-term lending||NZD|
|Cook Islands||01B||01B - Support policies for short-term lending||NZD|
|Cook Islands||01C||01C - Forex operations||NZD|
|Cook Islands||02||02 - Credit creation||NZD|
|Cook Islands||02A||02A - Financial sector lending/funding||NZD|
|Cook Islands||02B||02B - Support policies for long-term lending||NZD|
|Cook Islands||02C||02C - Loan guarantees||NZD|
|Cook Islands||03||03 - Direct long-term lending||NZD|
|Cook Islands||03A||03A - Long-term lending||NZD|
|Cook Islands||03B||03B - Forbearance||NZD|
|Cook Islands||04||04 - Equity support||NZD|
|Cook Islands||05||05 - Health and income support||NZD||61,000,000||36,902,601||Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).||
The Government’s COVID-19 Economic Response Plan with a total value of NZD61 million has three objectives. The first is to stimulate demand through support to local business to ensure that the economy is able to continue to operate, even at a reduced level, during this period of extreme uncertainty surrounding COVID-19. The second is to support the livelihoods of those that are likely to be most affected by the economic fallout, including those required to self-isolate, those that lose their jobs and the elderly and infirm. The third objective is to achieve the first two objectives in a fiscally responsible manner that does not undermine the Government’s ability to undertake further fiscal intervention over the longer-term, should that prove necessary. Breakdown as follows: (i) NZD5 million, Ministry of Health; (ii) NZD2.3 million support for self-isolation; (iii) NZD2 million small capital works program; (iv) NZD12 million major capital projects; (v) NZD0.97 million unemployment benefit; (vi) NZD22.51 million wage subsidy; (vii) NZD1 million child benefit payment; (vii) NZD0.87 million one-off welfare payment; (viii) NZD50 thousand redeployment program; (ix) NZD3.36 million business grants; (x) NZD2.32 million indirect costs (tax relief, TAU,etc).
|Cook Islands||05A||05A - Health support||NZD|
|Cook Islands||05B||05B - Income support||NZD|
|Cook Islands||06||06 - Budget reallocation||NZD|
|Cook Islands||07||07 - Central bank financing government||NZD|
|Cook Islands||07A||07A - Direct lending and reserve drawdown||NZD|
|Cook Islands||07B||07B - Secondary purchase: government securities||NZD|
|Cook Islands||08||08 - International Assistance Received||NZD||26,059,090||15,764,725|
|Cook Islands||08A||08A - Swaps||NZD|
|Cook Islands||08B||08B - International loans/grants||NZD||26,059,090||15,764,725|
|Cook Islands||08B1||08B1 - Asian Development Bank||NZD||19,059,090||11,530,000||ADB. Table A1.2: Sovereign Lending and Asian Development Fund Grant Operations (as of 17 July 2020); ADB. Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance (as of 14 August 2020); ADB. 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 (as of 17 July 2020).||
(i) USD0.27 million under the TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases; [update as of July 17] (ii) April 15, USD0.1 million technical assistance under Strengthening Social Protection in the Pacific; (iii) April 24, USD0.11 million technical assistance under Developing the Pacific Health Sector (Additional Financing); (iv) June 5, USD0.17 million technical assistance under Pacific Economic Management (Additional Financing); (v) June 29, USD9.73 million Disaster Resilience Program, Phase 2; (vi) July 29, USD1 million under COVID-19 Emergency Response; (vii) August 10, USD0.05 million under Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (viii) August 12, USD0.10 million technical assitance under "Support for gender sensitive responses to COVID-19 in the Pacific Developing Member Countries.
|Cook Islands||08B2||08B2 - Other||NZD||7,000,000||4,234,725||Government of the Cook Islands. https://cit-covid19.s3-ap-southeast-2.amazonaws.com/Government+of+the+Cook+Islands+18+May.pdf (accessed 21 May 2020).||
By end of March, NZD7 million from New Zealand in direct budgetary support for the Cook Islands' COVID-19 response measures.
|Cook Islands||09||09 - International Assistance Provided||NZD|
|Cook Islands||09A||09A - Swaps||NZD|
|Cook Islands||09B||09B - International loans/grants||NZD|
|Cook Islands||10||10 - No breakdown||NZD|
|Cook Islands||11||11 - Other Economic Measures||NZD|
|Cook Islands||12||12 - Non-Economic Measures||NZD||COVID-19 Cook Islands Response. https://covid19.gov.ck/?v=1588300681872 (1 May 2020).||
(i) April 16, Prime Minister, Hon. Henry Puna, declared the Cook Islands "a COVID-19 free zone", however the country remains in Code Yellow with relaxed restrictions; and (ii) Restrictions have been lifted for the following areas (a) schools are now open, (b) travel between the Pa Enua (Outer Islands) open, (c) churches are now open, (d) social gatherings are no longer limited to 10 people, (e) alcohol retail sales extended until 6pm, (f) non-contact sports may resume, and (g) restaurants & cafes may re-open.
|Denmark||01||01 - Liquidity Support||DKK||2,211,659,372||327,433,628|
|Denmark||01A||01A - Short-term lending||DKK||2,211,659,372||327,433,628||European Commission. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_810 (accessed 14 May 2020).||
May 5, EUR296 million in investment or working capital loans to startups to be provided only until the end of the year.
|Denmark||01B||01B - Support policies for short-term lending||DKK||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).||
(i) March 20, The (Danmarks Nationalbank) DN announced the launch of an ‘extraordinary lending facility’ which will make full-allotment, 1-week, collateralized loans available to banks at -0.5 % interest rate. Starting March 27, this facility will also include 3-month variable rate loans; (ii) March 24, The DN announced the auction of USD liquidity; (iii) the Danish Financial Stability Authority (DFSA) also announced a case by case relaxation of regulation on the LCR requirement.
|Denmark||01C||01C - Forex operations||DKK||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 May 2020).||
Denmark’s krone is pegged to the Euro. The fixed exchange rate policy has served Denmark well. The DN has stated its objective of preserving the peg.
|Denmark||02||02 - Credit creation||DKK||295,400,000,000||43,733,630,525|
|Denmark||02A||02A - Financial sector lending/funding||DKK|
|Denmark||02B||02B - Support policies for long-term lending||DKK||200,000,000,000||29,609,770,159||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 May 2020).||
No amount/estimate: (i) The DN increased the policy rate by 15bps to -0.6 %; (ii) March 12, DKK200 billion in additional liquidity after Danish authorities reduced the countercyclical capital buffer from 1% to 0% and cancel the planned increases meant to take effect later; (ii) March 30, A joint statement by the government and the financial sector commits banks and mortgage banks to support households with additional loans and payment holidays. Banks and insurance companies are urged by the DFSA not to pay out dividends or buy back shares; (iii) the DN also increased the interest rate on the previously announced 1-week loans to -0.35 %.
|Denmark||02C||02C - Loan guarantees||DKK||95,400,000,000||14,123,860,366||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 24 June 2020).||
(i) March 17, DKK1.20 billion credit guarantee for Scandinavian Airlines. Total support credit guarantee to the airlines amounting to SEK3.5 billion equally split between the Danish and Swedish governments; (ii) March 19, DKK35.7 billion loan guarantees scheme for large firms; (iii) DKK25 billion loan guarantee scheme for SMEs; (iv) DKK1.25 liquidity guarantee in new loans to SMEs with export activities; (v) DKK2.25 billion government guarantee for the Travel Guarantee Fund, to be repaid by the travel industry in the coming years; (vi) April 18, DKK30 billion government guarantee (to insurance companies) for companies' trade and export activities; (vii) No amount/estimate: May 20, For startups, loan guarantees by the Ministry of Finance on 70 % of new corporate loans that are issued to cover losses directly relating to COVID-19.
|Denmark||03||03 - Direct long-term lending||DKK||1,500,000,000||222,073,276|
|Denmark||03A||03A - Long-term lending||DKK||1,500,000,000||222,073,276||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020).||
March 19, DKK1.5 billion expected increase in the utilization of Danish students’ Loan Scheme that was temporarily extended.
|Denmark||03B||03B - Forbearance||DKK|
|Denmark||04||04 - Equity support||DKK||17,437,889,398||2,581,659,486||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 8 July 2020). European Commission. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1488 (accessed 22 July 2020)||
(i) April 18, DKK3.5 billion in loans and equity provided to entrepreneurs and venture firms. The state investment fund (Vaekstfonden) will provide risky capital to start-ups and venture firm, facing difficulties in financing as private investors withdraw from the market. Available in 2020 only; (ii) June 15, DKK10 billion from a new government-backed fund to act as an investor of last resort with the possibility of recapitalizing large and important firms at risk of bankruptcy; (iii) Together with Sweden, planned recapitalization of SAS (a Dutch airline) through an equity injection. Last August 17, the European Commission (EC) approved this measure. Denmark is expected to provide approximately EUR583 million of the recapitalization funds.