Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source 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 - Government support to income/revenue 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 NZD
Cook Islands 05B 05B - Non-health NZD
Cook Islands 06 06 - Budget reallocation NZD
Cook Islands 07 07 - Central bank financing government NZD
Cook Islands 07A 07A - Direct lending & reserve drawdown NZD
Cook Islands 07B 07B - Secondary purchase: government securities NZD
Cook Islands 08 08 - International Assistance Received NZD 8,008,330 4,844,725
Cook Islands 08A 08A - Swaps NZD
Cook Islands 08B 08B - International loans/grants NZD 8,008,330 4,844,725
Cook Islands 08B1 08B1 - Asian Development Bank NZD 1,008,330 610,000 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 30 April 2020). ADB. Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance (as of 9 May 2020).

(i) USD0.50 million under the TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases; (ii) April 24, USD0.11 million technical assistance under Developing the Pacific Health Sector (Additional Financing).

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.