|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Myanmar||01||01 - Liquidity Support||MMK|
|Myanmar||01A||01A - Short-term lending||MMK||Government of Myanmar. https://bit.ly/3dGxb5K (accessed on 26 June 2020).||
No amount/estimate: June 24, The government announced a COVID-19 Special Credit Loan to provide loan to farmers to relieve the impact of the COVID-19 pandemic on the agricultural sector. Both paddy and crop farmers are eligible to apply for the special relief loan until September 2020 with an interest rate of 5% per annum.
|Myanmar||01B||01B - Support policies for short-term lending||MMK||International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/myanmar-government-and-institution-measures-in-response-to-covid.html (accessed on 28 May 2020).||
No amount/estimate: (i) April, Deposit auctions have been halted to maintain adequate liquidity in the interbank market; (ii) April 9, the Central Bank of Myanmar (CBM) announced a temporary reduction in banks’ required reserve requirement ratio from 5% to 3.5% of deposits till September 30; (iii) April, It also announced a temporary revision to the formula for calculating the liquidity ratio, increasing the weight of government treasury bonds with a remaining maturity of more than one year from 50% to 90%, until September.
|Myanmar||01C||01C - Forex operations||MMK||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).||
No amount/estimate: April, The kyat has been allowed to adjust flexibly, with limited rules-based intervention to manage excessive exchange rate volatility.
|Myanmar||02||02 - Credit creation||MMK|
|Myanmar||02A||02A - Financial sector lending/funding||MMK|
|Myanmar||02B||02B - Support policies for long-term lending||MMK||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/myanmar-government-and-institution-measures-in-response-to-covid.html (accessed on 28 May 2020).||
No amount/estimate: The CBM (i) cut the policy interest rate by 0.5 percentage points on March 12 and by 1 percentage point on March 24, and has announced a further 1.5 percentage points reduction to be effective May 1; and (ii) April 23, Announced the extension of the deadline for compliance to certain prudential regulations (enacted in July 2017) by three years from end-August 2020 to end-August 2023 to enable banks to support the economy cope with the impact of COVID-19; (iii) May, Deposit rates will be subject to a lower minimum rate of 6.5%, secured lending rates will be subject to a lower maximum of 11.5%, and unsecured lending will have a lower maximum rate of 14.5%.
|Myanmar||02C||02C - Loan guarantees||MMK|
|Myanmar||03||03 - Direct long-term lending||MMK||100,000,000,000||71,326,676|
|Myanmar||03A||03A - Long-term lending||MMK||100,000,000,000||71,326,676||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).||
April, A COVID 19 Fund worth MMK100 billion (USD70 million, 0.1% of GDP) has been established at the Myanmar Economic Bank to provide soft loans to affected business (particularly the priority garment and tourism sectors and small and medium enterprises [SMEs]) at reduced interest rates.
|Myanmar||03B||03B - Forbearance||MMK|
|Myanmar||04||04 - Equity support||MMK|
|Myanmar||05||05 - Health and income support||MMK||38,300,000,000||27,318,117|
|Myanmar||05A||05A - Health support||MMK||300,000,000||213,980||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/myanmar-government-and-institution-measures-in-response-to-covid.html (accessed on 28 May 2020).||
(i) April, The allotment of MMK300 million (USD0.2 million) to the Ministry of Health and Sports for additional health-related expenditures; (ii) No amount/estimate: April, Waiver of the “specific goods tax,” customs duties, and commercial tax on “critical” medical supplies and products related to the prevention, control, and treatment of COVID-19.
|Myanmar||05B||05B - Income support||MMK||38,000,000,000||27,104,137||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).||
No amount/estimate: (i) April, Income and commercial tax payments due in the second and third quarters of the fiscal year have been made extendable to the end of the fiscal year, and an exemption for the 2% advance income tax on exports to the end of the fiscal year has been announced; (ii) Households without a regular income will be provided for with food during the upcoming long holidays; and electric bills, for up to 150 units, are exempt for most until the end of April; (iii) The Ministry of Hotels and Tourism announced that fee for renewal license of hotels and tourism businesses will be exempted for one year up to the end of March 2021; (iv) Starting April 20, the customs department has reduced duties for businesses operating with the Myanmar Automated Cargo Clearance System; (v) April, The Ministry of Labour, Immigration and Population will provide 40% of the social security fees for about 1.3 million insured workers from factories and workshops that are temporarily suspended for health inspections; (vi) April, The National Food Reserve has been allocated MMK38 billion.
|Myanmar||06||06 - Budget reallocation||MMK||
No amount/estimate: May, Up to 10% of FY 2019/20 initial budget expenditure (excluding those implemented by foreign loans and grants) of each ministry will be re-allocated to fight against COVID-19.
|Myanmar||07||07 - Central bank financing government||MMK|
|Myanmar||07A||07A - Direct lending and reserve drawdown||MMK|
|Myanmar||07B||07B - Secondary purchase: government securities||MMK|
|Myanmar||08||08 - International Assistance Received||MMK||2,303,415,900,000||1,642,950,000|
|Myanmar||08A||08A - Swaps||MMK|
|Myanmar||08B||08B - International loans/grants||MMK||2,303,415,900,000||1,642,950,000|
|Myanmar||08B1||08B1 - Asian Development Bank||MMK||364,309,700,000||259,850,000||ADB||
(i) January 29 and February 17, Greater Mekong Subregion Health Security Project (USD6.60 million); (ii) February 7, Strengthening Regional Health Cooperation in the Greater Mekong Subregion-Additional Financing (USD0.33 million); (iii) April 24, Policy Advice for COVID-19 Economic Recovery in Southeast Asia (USD0.5 million); (iv) April, Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (USD1.89 million); (v) July 24, Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 3) (USD0.21 million); (vi) July 28, Transport Sector Reform and Modernization (Additional Financing) (USD0.27 million) [update]; (vii) August 10, Sustaining the Gains of the Regional Cooperation in the Greater Mekong Subregion (Additional Financing) (USD0.05 million) [update]; (viii) August 21, COVID-19 Active Response and Expenditure Support Program (USD250 million) [update].
|Myanmar||08B2||08B2 - Other||MMK||1,939,106,200,000||1,383,100,000||World Bank. https://www.worldbank.org/en/news/press-release/2020/04/20/myanmar-50-million-in-fast-track-financing-for-national-covid-19-coronavirus-emergency-response (accessed on 6 May 2020); World Bank. https://www.worldbank.org/en/news/press-release/2020/05/29/myanmar-power-system-efficiency-project-brings-country-closer-to-universal-electricity-access (accessed 10 June 2020); IMF. https://www.imf.org/en/News/Articles/2020/06/26/pr20247-myanmar-imf-executive-board-approves-a-us-356-5m-disbursement-address-covid19 (accessed 29 June 2020); US Embassy in Burma. https://mm.usembassy.gov/factsheet-u-s-government-health-and-humanitarian-assistance-to-myanmar-for-covid-19-response/ (accessed 24 July 2020); Embassy of Japan. https://www.mm.emb-japan.go.jp/profile/english/press/20200815.html (accessed 17 August 2020); Japan International Cooperation Agency (JICA). https://www.jica.go.jp/myanmar/english/office/topics/press200901.html (accessed 02 September 2020); World Bank. https://www.worldbank.org/en/news/press-release/2020/06/26/myanmar-project-to-boost-agricultural-productivity-support-farmers-in-wake-of-covid-19-coronavirus (accessed 4 September 2020).||
(i) May, The World Bank has approved a USD50 million credit for the Myanmar COVID-19 Emergency Response Project, as part of global emergency support operations through a dedicated fast-track COVID-19 facility (loan); (ii) May 29, The World Bank approved a (a) USD350 million credit from the International Development Association (IDA) to increase the output and efficiency of power generation and improve the resilience of Myanmar’s electricity system to climate change and disasters; and (b) USD110 million in additional financing for the Essential Health Services Access Project, implemented nationwide since 2015; (iii) June 26, USD200 million to boost agricultural productivity and support farmers in the wake of COVID-19 [update]; (iv) June 26, The IMF has approved USD356.5 million emergency assistance for Myanmar under the Rapid Credit Facility and the Rapid Financing Instrument to support the government’s COVID-19 Economic Relief Plan that aims at minimizing the pandemic’s impact by stimulating the economy and boosting expenditures especially on health and social safety nets; (v) July 21, The US Government is providing more than USD18.5 million to support Myanmar’s response to the COVID-19 pandemic, i.e. (a) approximately USD10.3 million for health and (b) USD8.2 million in disaster and humanitarian assistance, including to support vulnerable people and host communities during the pandemic; (vi) August 15, The Government of Japan provided medical equipment to Myanmar under a grant aid worth JPY2 billion (USD18.1); (vii) September 1, The Japan International Cooperation Agency (JICA) is providing JPY30 billion (approx. USD280 million) concessional loan to the Myanmar Government to support resilient economic recovery through implementation of COVID- 19 Economic Relief Plan (CERP) and related policies for investment/trade promotion and financial sector strengthening [update].
|Myanmar||09||09 - International Assistance Provided||MMK|
|Myanmar||09A||09A - Swaps||MMK|
|Myanmar||09B||09B - International loans/grants||MMK|
|Myanmar||10||10 - No breakdown||MMK|
|Myanmar||11||11 - Other Economic Measures||MMK|
|Myanmar||12||12 - Non-Economic Measures||MMK||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 24 July 2020); Ministry of Hotels and Tourism. https://tourism.gov.mm/covid-19/ (accessed 13 July 2020); United Nations Office for the Coordination of Humanitarian Affairs. https://reliefweb.int/report/myanmar/wfp-myanmar-covid-19-situation-report-10-2-september-2020 (accessed 02 September 2020).||
(i) In response, the government has announced measures to limit the spread of the virus including travel restrictions (including quarantine requirements, suspension of visa issuances and international flights), closure of several land borders, and banning mass public gatherings are in place; (ii) Yangon and Mandalay will be under lockdown during the long holidays (April 10–19); (iii) Government employees have been instructed not to travel home and will be compensated for this period; (iv) A National Central Committee on Prevention, Control and Treatment of 2019 Novel Coronavirus has been established to coordinate the authorities’ response. A second committee, the Control and Emergency Response Committee on COVID-19, was setup on March 30 to help with stricter administrative measures to control the spread of the virus, including quarantine migrant workers coming from neighboring countries; (v) July 7, Myanmar government announced that it is opening for domestic travel, but incoming international travelers will not be allowed until the end of July; (vi) Restrictions on visa issuances and international passenger flights have been extended to July 31; (vii) September 2, The temporary ban on international commercial flights was extended to 30 September [update].
|Netherlands||01||01 - Liquidity Support||EUR|
|Netherlands||01A||01A - Short-term lending||EUR|
|Netherlands||01B||01B - Support policies for short-term lending||EUR|
|Netherlands||01C||01C - Forex operations||EUR|
|Netherlands||02||02 - Credit creation||EUR||27,269,000,000||30,164,823,009|
|Netherlands||02A||02A - Financial sector lending/funding||EUR|
|Netherlands||02B||02B - Support policies for long-term lending||EUR||6,000,000||6,637,168||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020); Bruegel. https://www.bruegel.org/publications/datasets/covid-national-dataset/#netherlands (accessed 15 April 2020).||
March, (i) EUR6 million credit created by reducting interest rates from (Qredits); (ii) No amount/estimate: De Nederlandsche Bank (DNB) reduced systemic buffers from the current 3% of global risk-weighted exposures to 2.5% for ING, 2% for Rabobank and 1.5% for ABN Amro; (iii) No amount/estimate: the planned introduction of a risk weight floor for mortgage loans has been postponed. It is expressly intended that this released capital is used to support lending, as opposed to paying dividends or buying back own shares.
|Netherlands||02C||02C - Loan guarantees||EUR||27,263,000,000||30,158,185,841||OECD. http://www.oecd.org/coronavirus/en/ (accessed 14 May 2020). Finnvera. https://www.finnvera.fi/finnvera/uutishuone/uutiset/finnveran-takausosuus-jopa-90-prosenttia-jos-rahoituksen-jarjestyminen-sita-edellyttaa (accessed 24 May 2020). NL Government. https://www.government.nl/topics/coronavirus-covid-19/news/2020/06/26/government-offers-financial-support-to-klm-as-a-result-of-the-corona-crisis (accessed 29 June 2020)||
(i) No amount/estimate: March 30, The government increased export credit insurance for firms through the credit insurer Atradius. The share of the working capital that companies need for their export production was raised from 80% to 95%; (ii) April 9, Budget for guarantee facility for SME loans via BMKB was raised to EUR1.5 billion, while the premium for SME loans has been reduced from 3.9 to 2%; (iii) Increase to EUR10 billion (from EUR400 million) in the ceiling of the GO business loan guarantee scheme; (iv) The government provides EUR12 billion guarantees for the credit insurance market to ease lending to small firms; (v) April 17, EUR650 million (increased from EUR400 million) additional temporary guarantee for working capital and other type of support for agricultural and horticultural companies; (vi) May 14, EUR713 million in guarantees for bridging loans for small companies under the Small Credits Corona Guarantee Scheme. The guarantee covers 95% of bank loans, and funding is provided for a maximum of five years at an interest rate of 4% for company with positive profits over the last three years; (vii) No amount/estimate: May 7, Finnvera (official export credit agency) increased its guarantee share for SME loans from 80% to 90%; (viii) June 26, EUR2.4 billion in guarantees for bank loans made by KLM Airlines.
|Netherlands||03||03 - Direct long-term lending||EUR||1,365,000,000||1,509,955,752|
|Netherlands||03A||03A - Long-term lending||EUR||1,365,000,000||1,509,955,752||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020). Ministry of Economic Affairs and Climate. https://www.rijksoverheid.nl/ministeries/ministerie-van-economische-zaken-en-klimaat/nieuws/2020/05/28/uitbreiding-op-ondernemersregelingen-noodpakket-banen-en-economie (accessed 29 May 2020). NL Government. https://www.government.nl/topics/coronavirus-covid-19/news/2020/06/26/government-offers-financial-support-to-klm-as-a-result-of-the-corona-crisis (accessed 29 June 2020) European Commission. https://nltimes.nl/2020/05/29/government-backs-travel-vouchers-refunds-another-eu150-million (accessed 31 July 2020||
(i) EUR200 million available for bridging loans to start-ups, scale-ups and innovative small and medium enterprises. These loans will be provided through regional development companies in the Netherlands; (ii) Loans at reduced interest rates are available under the scheme in (ii) of Non-health, Measure 5; (iii) June 26, EUR1 billion in direct loans to KLM Airlines, to be given in tranches through to 2025; (iv) EUR165 million in subsidized loans to the five Dutch Travel Guarantee Funds that operate package travel guarantee schemes, subject to the following conditions: (a) the reduced interest rates will be above the minimum levels set in the Temporary Framework; (b) the loan contracts will be signed by 31 December 2020 at the latest; and (c) the maturity of the loans will not exceed six years.
|Netherlands||03B||03B - Forbearance||EUR||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020). Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/06/16/kabinet-treft-maatregelen-om-toename-mensen-met-schulden-op-te-vangen (accessed 18 June 2020)||
(i) No amount/estimate: The banking sector has responded by giving an automatic 6-month payment holiday (interest and amortisation) for all business loans of less than EUR2.5 million; (ii) No amount/estimate: Ban on forced home sales of homeowners who are temporarily unable to meet their mortgage obligations due to the corona crisis until 1 July (7 April) and automatic extension of temporary rent contracts until the end of June (8 April); (iii) No amount/estimate: June 17, Proposed the temporary deferral of debt payments by four months.
|Netherlands||04||04 - Equity support||EUR|