Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Arab Republic of Egypt 05 05 - Health and income support EGP 110,856,000,000 7,054,164,325 OECD. https://www.oecd.org/coronavirus/en/ (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

Multiple packages have been announced by the government to mitigate the economic impact of COVID-19, totalling over EGP102 billion: (i) March 22, EGP100 billion (1.8% of GDP) or USD6.13 billion was announced as the total of stimulus policies to be enacted by the government to mitigate the economic impact of COVID-19; (ii) March 24, EGP1 billion additional funding for health services; (iii) April 2, additional USD7.9 million disgnated for emergency respone activities related to the outbreak; (iv) EGP1 billion in arrears will be paid out to exporters. More data on the breakdown of these packages below.

Arab Republic of Egypt 05A 05A - Health support EGP Ahram Online. http://english.ahram.org.eg/NewsContent/1/64/388732/Egypt/Politics-/EGP--million-disbursed-to-support-doctors-infected.aspx (accessed 29 October 2020). OECD. https://www.oecd.org/coronavirus/en/ (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

(i) March 22, EGP8 billion has been allocated to support the healthcare sector, targeted at providing urgent and necessary medical supplies, and disbursing bonuses for medical staff working in quarantine hospitals and labs; (ii) March 22, To support medical professionals, including doctors working in university hospitals, a 75% allowance over the wages has been announced; (iii) March 24, EGP1 billion (USD63.5 million) additional funding was announced, specifically for health services and various measures to increase the country’s capacity to absorb the sudden increase of critical patients that the outbreak might bring; (iv) April 2, additional USD7.9 million designated for emergency response activities related to the COVID-19 outbreak; (v) October 19, The Egyptian Doctors Syndicate announced that it has disbursed EGP71 million to support almost 3,600 doctors who have been infected by the coronavirus since February. The syndicate added that it also disbursed EGP5 million to support the families of the doctors who died of COVID-19.

Arab Republic of Egypt 05B 05B - Income support EGP Ministry of Social Solidarity. https://www.moss.gov.eg/ar-eg/Pages/news-details.aspx?nid=2003 (accessed 19 November 2020); Egyptian Customs Authority. https://customs.gov.eg/Media/News/Details/18aa02e5-3c2c-4686-ac2f-c020e8982926 (accessed 24 September 2020). Ministry of Social Solidarity. https://www.moss.gov.eg/ar-eg/Pages/news-details.aspx?nid=1917 (accessed 17 September 2020). Ministry of Petroleum. https://www.petroleum.gov.eg/ar-eg/media-center/news/news-pages/Pages/mop_02092020_02.aspx (accessed 17 September 2020). Central Bank of Egypt. https://www.cbe.org.eg/en/Pages/HighlightsPages/Circular-dated-21-June-2020-regarding-extending-the-period-of-exempting-local-transfers-in-EGP-from-all-fees-&-commissions-.aspx (accessed 24 September 2020); https://www.cbe.org.eg/en/Pages/HighlightsPages/Circular-dated-21-June-2020-regarding-extending-the-period-of-exempting-local-transfers-in-EGP-from-all-fees-&-commissions-.aspx (accessed 24 June 2020). Ministry of Petroleum and Mineral Resources. https://www.petroleum.gov.eg/ar-eg/media-center/news/news-pages/Pages/mop_17062020_01.aspx (accessed 19 June 2020). World Bank. https://datacatalog.worldbank.org/dataset/covid-19-finance-sector-related-policy-responses (accessed 7 May 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 23 July 2020). Daily News Egypt. https://dailynewsegypt.com/2020/10/21/prime-minister-approves-salary-rise-for-egyptian-teachers/ (accessed 5 November 2020).

(i) No amount/estimate: March 22, Pension benefits have been increased by 14%; (ii) No amount/estimate: March 22, Expansion of the targeted cash transfer social programs, Takaful and Karama, are also being extended to reach more families; (iii) No amount/estimate: March 22, A targeted support initiative for irregular workers in most severely hit sectors has been announced, which will entail EGP500 in monthly grants for 3 months; (iv) No amount/estimate: March 22, Energy costs have been lowered for the entire industrial sector; (v) No amount/estimate: March 22, Real estate tax relief has been provided for industrial and tourism sectors, (vi) No amount/estimate: March 22, Subsidy pay-out for exporters has been stepped up, and discount on fuel price has been announced for the aviation sector; (vii) March 22, EGP50 billion of the EGP100 billion stimulus has been announced for the tourism sector, which contributes close to 12% of Egypt’s GDP, 10% of employment, and almost 4% of GDP in terms of receipts, as of 2019; (viii) No amount/estimate: The moratorium on the tax law on agricultural land has been extended for 2 years; (ix) No amount/estimate: The stamp duty on transactions and tax on dividends have been reduced; (x) No amount/estimate: Capital gains tax has been postponed until further notice; (xii) No amount/estimate: ATM withdrawal fees have been cancelled; (xiii) EGP1 billion in arrears will be paid out by The Export Subsidy Fund in March and April 2020, plus 10% in cash payments to exporters in June 2020; (xiv) No amount/estimate: Three months extension for the payment of property taxes for companies in the industrial and tourism sector; (xv) No amount/estimate: Extension of the individuals’ annual tax return filing deadline to 16 April instead of 31 March, and exemption of the tax returns online filing subscription fee for the use of the Egyptian Tax Authority online filing portal; (xvi) EGP50 million allocated by the Ministry of Workforce for irregular workers, including women, who lost their job due to the coronavirus; (xvii) June 17, EGP5.3 billion in exemptions to natural gas consumers from penalty fine for late payments; (xviii) No amount/estimate: June 21, Extended until September 15, 2020, the exemption from all fees & commissions for local transfers in EGP. On September 15, this was again extended until December 21, 2020. Further, contactless prepaid bank cards will continue to be issued to citizens free of charge; (xix) No amount/estimate: A Corona tax of 1% on all public and private sector salaries and 0.5% on state pensions have been imposed, the proceeds of which are earmarked for sectors and SMEs most affected by the pandemic; (xx) No amount/estimate: July 23, the new consumer spending initiative will also include discounts on selected consumer goods, the details of which are yet to be announced; (xxi) Bonus for workers in the petroleum sector worth 12% of the basic wage for a worker on June 30, 2020, with a minimum of EGP75 added to the basic wage. Bonus for workers in the workers in "the shareholding corporate sector" side of the petroleum industry get a bonus worth 12% of their basic wages with a minimum of EGP75 and a maximum of EGP300; (xxii) EGP500 support total for tour guides. Disbursement begins with an EGP100 disbursement on September 8, 2020; (xxiii) September 18, Reduction in customs duties by rates exceeding 50% of their current levels on some components of the furniture, petrochemical and durable electrical appliances industries such as refrigerators and televisions, as well as for mass transit vehicles and vehicle supply stations with electric and gas power; (xxiv) October 10, EGP2.3 billion in support to state employees through salary hikes between EGP50 and EGP55; (xxv) October 27, EGP1 billion to support equal educational opportunities for students. This includes support for one million school students from families who have been rejected from the Takaful program, bringing the total number of students who are supported to 4.4 million students, of whom 2.4 million students are supported through the Takaful program and 2 million students are rejected from the program. [update]

Arab Republic of Egypt 06 06 - Budget reallocation EGP
Arab Republic of Egypt 07 07 - Central bank financing government EGP
Arab Republic of Egypt 07A 07A - Direct lending & reserve drawdown EGP
Arab Republic of Egypt 07B 07B - Secondary purchase: government securities EGP
Arab Republic of Egypt 08 08 - International Assistance Received EGP 212,856,063,893 13,544,793,717
Arab Republic of Egypt 08A 08A - Swaps EGP
Arab Republic of Egypt 08B 08B - International loans/grants EGP 212,856,063,893 13,544,793,717
Arab Republic of Egypt 08B1 08B1 - Asian Development Bank EGP
Arab Republic of Egypt 08B2 08B2 - Other EGP 212,856,063,893 13,544,793,717 Arab Finance. https://www.arabfinance.com/en/news/details/egypt-economy/528272 (accessed 19 November 2020); Egypt Independent. https://egyptindependent.com/egypt-receives-us9-5-million-grant-from-japan-to-fight-covid-19/ (accessed 22 October 2020). https://www.egyptindependent.com/egypts-sisi-issues-decree-to-approve-2-7-billion-imf-funding-agreement-for-combating-coronavirus-impact/ (accessed 8 October 2020). Daily News Egypt. https://dailynewsegypt.com/2020/09/04/eib-nbe-sign-e-800m-financing-agreement-to-ensure-resilient-post-covid-19-recovery-for-smes/ (accessed 17 September 2020). United Nations Development Programme. https://www.eg.undp.org/content/egypt/en/home/presscenter/pressreleases/2020/government-of-japan-and-undp-commit-to-addressing-socio-economic.html (accessed 27 August 2020). Arab Monetary Fund. https://www.amf.org.ae/en/content/arab-monetary-fund-extends-arab-republic-egypt-new-loan-within-framework-structural (accessed 30 July 2020). African Development Bank Group. https://www.afdb.org/en/news-and-events/press-releases/egypt-african-development-bank-approves-225-million-euros-budget-support-loan-electricity-sector-bolster-economic-resilience-and-sustainability-amid-covid-19-36237 (accessed 19 June 2020), https://www.afdb.org/en/news-and-events/press-releases/egypt-african-development-bank-approves-emergency-relief-aid-tackle-food-insecurity-vulnerable-workers-whose-livelihoods-are-impacted-covid-19-35832 (accessed 28 May 2020). World Bank. https://www.worldbank.org/en/news/press-release/2020/05/17/egypt-world-bank-provides-us-50-million-in-support-of-coronavirus-emergency-response-under-new-fast-track-facility (accessed 21 May 2020). World Bank. https://www.worldbank.org/en/news/press-release/2020/06/16/egypt-world-bank-provides-us-400-million-in-support-of-universal-health-insurance-system#:~:text=WASHINGTON%20DC%2C%20June%2016%2C%202020,health%20outcomes%20of%20its%20citizens. (accessed 18 June 2020) https://www.worldbank.org/en/news/press-release/2020/04/02/egypt-world-bank-provides-us79-million-in-support-of-coronavirus-covid-19-emergency-response (accessed 7 May 2020). IMF. https://www.imf.org/en/News/Articles/2020/06/05/pr20236-egypt-imf-reaches-staff-level-agreement-on-12-month-us-billion-stand-by-arrangement (accessed 11 June 2020), https://www.imf.org/en/News/Articles/2020/06/26/pr20248-egypt-imf-executive-board-approves-12-month-us-5-2billion-stand-by-arrangement (accessed 09 July 2020).

(i) April 2, USD7.9 million funds from the World Bank through activating the Contingency Emergency Response Component (CERC) under the “Transforming Egypt’s Healthcare System Project”, designated for emergency response activities related to the COVID-19 outbreak in Egypt. This measure is reflected in 5A; (ii) May 11, USD2.772 billion in emergency support from the International Monetary Fund to address the COVID-19 Pandemic. As of October 1, the agreement was ratified by the President of Egypt; (iii) May 17, USD50 million in World Bank aid for Egypt as an emergency response under the new Fast Track COVID-19 Facility; (iv) May 27, USD0.5 million emergency assistance grant from the African Development Bank Group to Egypt to provide food relief, and to contribute to restoring the livelihood of vulnerable populations severely affected by the pandemic; (v) June 5, USD5.2 billion Stand-By Arrangement were agreed upon by Egyptian Authorities and the International Monetary Fund, aiming to alleviate the economic impact of the COVID-19 pandemic, helping maintain macroeconomic stability, strengthen the social safety net, and support reforms to spur private-sector-led growth and job creation. On June 26, this was approved by IMF's Executive Board; (vi) June 16, USD400 million provided by the World Bank as support for the Universal Health Insurance System, to protect the most vulnerable from high health expenses due to the pandemic; (vii) June 17, the African Development Bank Group approved a EUR225 million loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The funding will help meet the Government of Egypt’s financing requirements in the light of the COVID-19 pandemic, and support a sound electricity infrastructure base; (viii) July 29, the Arab Monetary Fund extended a USD639 million credit facility to help the country reform its public finance sector amid the COVID-19 pandemic; (ix) August 25, USD2.73 million grant from the Government of Japan and UNDP to address the Socio-Economic Impact of COVID-19 in Egypt through human security approach; (x) September 3, the Finance Ministry announced that Egype signed a USD2 billion conventional and islamic loan with several international and regional banks. This is meant to close the gap in its 2020/2021 budget wrought by the COVID-19 pandemic; (xi) Egypt’s National Bank of Egypt (NBE) and the European Investment Bank (EIB) have signed an agreement worth EUR1.9 billion, where EUR1.1 billion will be provided for the transport sector and EUR800 million for SMEs; (xii) October 21, USD9.5 million grant from Japan to support the health sector against coronavirus; (xiii) November 5, USD112.5 million worth of agreements between the US and Egypt amid the pandemic, in various sectors such as health, higher education, and scientific research. [update]

Arab Republic of Egypt 09 09 - International Assistance Provided EGP
Arab Republic of Egypt 09A 09A - Swaps EGP
Arab Republic of Egypt 09B 09B - International loans/grants EGP
Arab Republic of Egypt 10 10 - No breakdown EGP
Arab Republic of Egypt 11 11 - Other Economic Measures EGP 11,786,229,548 750,000,000 Central Bank of Egypt. https://www.cbe.org.eg/en/Pages/HighlightsPages/Circular-dated-6-August,-2020-regarding-allowing-banks-to-own-unlimited-shares-in-payment-service-providers-and-payment-sys.aspx (accessed 12 August 2020). Egypt Independent. https://egyptindependent.com/egypt-launches-first-green-bonds-in-middle-east-and-africa-worth-us750-mn/ (accessed 22 October 2020). Financial Regulatory Authority Egypt. http://www.fra.gov.eg/content/efsa_ar/efsa_news/efsa_921.htm (accessed 15 October 2020). World Bank. https://datacatalog.worldbank.org/dataset/covid-19-finance-sector-related-policy-responses (accessed 7 May 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: (i) March 20, The limit for electronic payments via mobile phones has been raised to EGP30,000/day and EGP100,000/month for individuals, and to EGP40,000/day and EGP200,000/per week for corporations; (ii) March 29, The central bank set a daily limit on all ATM disbursement per card to be EGP5,000, and limits to cash withdrawal and deposits at a bank branch to be EGP10,000 per individual, and EGP50,000 per corporate; (iii) The cost of transactions in the EGX will be reduced from 0.15% to 0.125% and from 0.15% to 0.05% for non-residents and Egyptian residents, respectively, and all spot transactions on EGX will be exempt from stamp duty; (iv) The National Bank of Egypt and Bank Misr announced a one-year deposit program with a 15% interest rate; (v) August 6, Allowed banks to own unlimited shares in payment service providers and payment systems operators; (vi) October 4, The Financial Regulatory Authority reduced the fees for examination and study services owed to the authority by 50% for medium and small companies when they apply for the Authority’s approval when taking steps related to the Egyptian stock exchange (such as preparations for an IPO). The change was aimed at incentivizing SMEs to go to the stock exchange for funding; (vii) October 20, USD750 million in green bonds (first in Middle East and Africa) to finance expenditures related to green projects addressing the impacts of COVID-19 while also taking into account environmental standards.

Arab Republic of Egypt 12 12 - Non-Economic Measures EGP IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

(i) April 28, A Presidential decree published in the Official Gazette declared the state of emergency across the country for three months; (ii) The authorities have taken a host of precautionary measures to improve testing as well as to limit the community spread of the virus, including (a) setting up testing centers, (b) imposing a nighttime curfew, (c) temporarily closing places of worship, (d) temporarily halting all air travel, (e) encouraging civil servants to work from home in non-essential sectors, (f) closing all malls, gyms, sporting clubs, in-dining restaurants and cafes; (iii) Authorities have also suspended the export of all types of legumes for a period of 3 months and plan to start increasing strategic food reserves to meet domestic deman; (iv) Egypt’s Health Ministry released a 3-stage plan outlining required procedures in preparation for the gradual easing of restrictions within the country; (v) Starting July 2020, there will be a gradual re-opening of the economy – air travel will resume, restaurants and cafes will open with 25 percent capacity, stores will close at 9 pm while restaurants and cafes will close at 10 pm, public parks and beaches will remain closed until further notice, public transportation will operate between 4 am and midnight, places of worship will be open for daily prayers but main prayers like Friday prayers and masses will not be allowed, cinemas, theaters, and entertainment venues will operate with 25 percent capacity; (vi) All parks and specialized gardens around Cairo will open to the public starting on August 26, 2020, with a maximum capacity of 50%. Starting September 21, funeral prayers and wedding ceremonies held in open-air venues have been allowed, for a maximum limit of 300 people.

Argentina 01 01 - Liquidity Support ARS 343,000,000,000 5,466,135,458
Argentina 01A 01A - Short-term lending ARS 343,000,000,000 5,466,135,458 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed15 May 2020). Government of Argentina. https://www.argentina.gob.ar/noticias/el-gobierno-nacional-lanza-linea-de-credito-tasa-cero-para-el-sector-de-las-industrias (accessed 21 August 2020).

(i) ARS1 billion working capital lines for SME through Bank of Investment and Foreign Trade (BICE) with a guarantee from the Reciprocal Guarantee Societies (SGR), and a term of up to 12 months; (ii) Mandatory credit lines through the Central Bank (ARS320 billion); (iii) Established a credit line for MSMEs, PyME Plus line, that do not have bank credit at a subsidized rate of 24%. The Central Bank authorized a special line for ARS22 billion with minimum requirements so that they can take their first credit and for the MSMEs that obtain the FOGAR guarantee, the banks cannot deny it; (iv) June 2, No amount/estimate: launched a special line of credit for work cooperatives at a subsidized rate of 18%; (v) June 11, No amount/estimate: created the PyMEs Plus program to support microbusinesses and SMEs by providing new lines of credit to eligible applicants; (vi) August 13, launched a zero-rate credit line for the cultural industries sector.

Argentina 01B 01B - Support policies for short-term lending ARS BCRA. https://www.bcra.gob.ar/Noticias/Coronavirus-BCRa-medidas-directorio.asp (Accessed 27 April 2020).

No amount/estimate: (i) Reduced reserve requirements for financial entities that offered special lines of credit to micro, small and medium-sized enterprises at maximum 24% interest; (ii) the combined divestiture of LELIQ holdings and release of reserve requirements could generate credit volumes more than 50% of current bank financing.

Argentina 01C 01C - Forex operations ARS

See (i) in Measure 11.

Argentina 02 02 - Credit creation ARS 34,000,000,000 541,832,669
Argentina 02A 02A - Financial sector lending/funding ARS
Argentina 02B 02B - Support policies for long-term lending ARS BCRA. https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-creditos-mipymes.asp (Accesed 27 April 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020).

No amount/estimate: (i) Provided new incentives for financial entitites to increase their loans to micro, small, and medium-sized enterprises (MiPyMEs) for the payment of salaries, as long as those entities are payment agents of the company that requests it; (ii) the Central Bank also temporarily added 60 days to each category of debtor in arrears; (iii) Developed the Conformed Invoice as a credit instrument to discount in financial entities or the capital market; (iv) November 13, raised the benchmark Leliq rate to 38% from 36%, along with increases in repo rates and retail certificate deposits.

Argentina 02C 02C - Loan guarantees ARS 34,000,000,000 541,832,669 BCRA. https://www.argentina.gob.ar/coronavirus/medidas-gobierno (Accessed 27 April 2020). Government of Argentina. https://www.argentina.gob.ar/noticias/el-gobierno-anuncio-una-linea-de-creditos-para-pymes-turisticas-con-un-ano-de-gracia-y-tasa (accessed 30 October 2020).

No amount/estimate: (i) See (i) in Actions that increase liabilities in Measure 1; (ii) Created a Special Affectation Fund, which will transfer ARS30 billion to the Argentine Guarantee Fund. The guarantees have the objective of facilitiating the repayment of loans for working capital. Eligible parties include companies listed in the small and medium-sized enterprise registry (MiPyMES Registry); (iii) No amount/estimate: FOGAR provides a guarantee that covers 100% of the credit in (iv) of Measure 1A; (iv) October 13, ARS3 billion in (viii) of Measure 3A.

Argentina 03 03 - Direct long-term lending ARS 40,620,000,000 647,330,677
Argentina 03A 03A - Long-term lending ARS 40,620,000,000 647,330,677 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020). Government of Argentina. https://www.argentina.gob.ar/noticias/el-gobierno-anuncio-una-linea-de-creditos-para-pymes-turisticas-con-un-ano-de-gracia-y-tasa (accessed 30 October 2020).

(i) Offered ARS2.25 billion loans at a fixed rate of 12% and non-refundable contributions to companies, small and medium-sized enterprises (SMEs), cooperatives, and research and development instituions that contribute to the COVID-19 health emergency; (ii) Allocated ARS25 billion from the state-owned bank BNA for producers of food, personal hygiene and cleaning, and producers of medical supplie; (iii) Allocated ARS5 billion to support teleworking and ARS2.8 billion to develop infrastructure in industrial parks; (iv) granted a total of ARS70 million Non-Refundable Contributions (ANRs) for a maximum amount for high impact or associative projects; (v) increased the monthly non-remunerative financial to temporary workers in the agricultural and agro-industrial sector; (vi) No amount/estimate: May 11, launched the the Recuperar program, a sector-specific helpline with non-bank financing at an interest rate of 3% per year, for machines, tools or capital goods; (vii) September 10, ARS2.5 billion expansion of the National Program for the Development of Suppliers to to assist companies that provide industrial goods and services in strategic value chains; (vii) October 13, Announced a ARS3 billion credit line for tourism SMEs with a one-year grace period and zero rate in the first 12 installments and a 100% guarantee from FOGAR.

Argentina 03B 03B - Forbearance ARS Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 27 April 2020).

No amount/estimate: (i) Extended maturities for debt issued under the Debt Regulatization Regime of Law No. 27,541 to small and medium-sized enterprises (SMEs) and micro-SMEs until June 30, 2020; (ii) Required financial institutions to automatically refinance unpaid credit card balances with a one-year term with 3 months grace, 9 equal and consecutive monthly installments and an annual nominal rate of 43%; (iii) Suspended punitive interest charges on unpaid balances of credits granted by financial entities, whose installments were due between April 1, 2020 and June 30, 2020.

Argentina 04 04 - Equity support ARS
Argentina 05 05 - Health and income support ARS 169,284,000,000 2,697,752,988
Argentina 05A 05A - Health support ARS 6,000,000,000 95,617,530 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 5 May 2020). Argentine Government. https://www.argentina.gob.ar/noticias/el-gobierno-extendio-el-subsidio-de-contencion-familiar-dispuesto-en-2006 (accessed 14 August 2020). Argentine Government. https://www.boletinoficial.gob.ar/detalleAviso/primera/227193/20200327 (accessed 25 September 2020). MENAFN. https://menafn.com/1101062851/Argentina-inks-deal-with-Russia-to-purchase-25-mln-doses-of-coronavirus-vaccine&source=30 (accessed 06 November 2020).

(i) Established Emergency Assistance Program for Work and Production for employers and workers affected by the health emergency; (ii) authorized ARS 6 billion to Argentine provinces to strengthen municipal health systems and finances; (iii) created an Emergency Family Income (IFE) to compensate the loss or serious decrease in the income of people linked to the informal sector; (iv) low-income monotributistas, and the workers and workers of private households affected by the health emergency; (v) implemented Universal Child Allowance (AUH) and Universal Pregnancy Allowance (AUE) payments, worth ARS3,103 per month for each child; (vi) increase in budget items for therapeutic communities, homes with coexistence and homes for care and community accompaniments; (vii) increased the monthly non-remunerative financial to temporary workers in the agricultural and agro-industrial sectors; (viii) No amount/estimate: August 8, Established a subsidy of ARS 15,000 for the relatives of people who died due to COVID-19, who at the time of their death, were unemployed, worked in the informal economy or were monotaxists; (ix) No amount/estimate: September 15, Extended the Stimulus Allowance for Healthcare workers by 90 days and expanded the scope of the allowance to reach 700,000 people when before it reached 500,000. This is a monthly 5,000 Peso allowance for healthcare workers. (x) No amount/estimate: November 3, purchase of 25 million doses of Russian COVID-19 vaccine "Sputnik V".

Argentina 05B 05B - Income support ARS 163,284,000,000 2,602,135,458 Argentine Government. https://www.argentina.gob.ar/noticias/guzman-y-de-pedro-firmaron-con-el-gobernador-de-mendoza-un-nuevo-acuerdo-del-fondo (accessed 03 Jul 2020). Argentine Government. https://www.argentina.gob.ar/noticias/mas-de-300-millones-de-pesos-para-poner-en-marcha-el-programa-potenciar-trabajo-en-cordoba (accessed 03 July 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 May 2020, 19 June 2020, 26, June). Official Bulletin of Argentina. https://www.boletinoficial.gob.ar/detalleAviso/primera/231883/20200708 (accessed 17 July 2020). Argentine Government. https://www.argentina.gob.ar/noticias/el-gobierno-nacional-firmo-acuerdos-de-asistencia-financiera-con-jujuy-la-rioja-tierra-0 (accessed 24 July 2020). Argentine Government. https://www.argentina.gob.ar/noticias/arroyo-y-capitanich-firmaron-la-implementacion-del-potenciar-trabajo-en-chaco (accessed 31 July 2020). Argentine Government. https://www.boletinoficial.gob.ar/detalleAviso/primera/233459/20200811 (accessed 14 August 2020). Argentine Government. https://www.argentina.gob.ar/noticias/el-presidente-anuncio-obras-para-chaco-misiones-cordoba-la-pampa-y-salta-por-20-mil (accessed 28 August 2020). Argentine Government. https://www.boletinoficial.gob.ar/detalleAviso/primera/234035/20200825 (accessed 28 August 2020). Argentine Government. https://www.boletinoficial.gob.ar/detalleAviso/primera/227120/20200325?busqueda=1 (accessed 25 September 2020). Argentine Govenrment. https://www.boletinoficial.gob.ar/detalleAviso/primera/236440/20201023?anexos=1 (accessed 23 October 2020).

(i) Increased budget for public investment in road works, economic infrastructure, construction and renovation of houses, schools, kindergartens, and tourism by ARS100 billion; (ii) suspended fees and commissions for ATM operations (deposits, withdrawals, inquiries, etc.) through June 30, 2020; (iii) exempted the payment of employment contributions to sectors criticaly affected by the coronavirus pandemic; (iv) reinforced unemployment insurance; (v) ordered an extraordinary payment to the holders of the Food Card; (vi) May 1, established emergency economic assistance within the framework of the Self-Managed Work Program; (vii) May 1, declared that Emergency Family Income (IFE), Universal Child Allowance (AUH), and the Complementary Salary (SC) are not taxable as part of gross income; (viii) No amount/estimate: May 5, expanded the Emergency Assistance Program for Work and Production to cover more companies and activities; (ix) No amount/estimate: May 6, increased the benefits and number of beneficiaries; (x) No amount/estimate: May 11, updated the amounts of economic aid provided under the Job Insertion Program; (xi) No amount/estimate: May 12, required Banks to refund fees associated with the National Social Security Administration (ANSES) and Emergency Family Income (IFE) benefit; (x) May 14, ARS29 billion federal program which includes the construction of 5,500 new homes, the financing of 42,900 parts that include gas, electricity and sanitary infrastructure works, the granting of microcredits for the acquisition of construction materials and the carrying out of small-scale works, as well as the conditioning of community spaces in popular neighborhoods. Estimated to generate 750 thousand direct and indirect jobs between 2020 and 2021; (xi) No amount/estimate: May 18, announced an increase of 6.12% for all retirees and pensioners according to the scale of the pyramid, which brings the minimum retirement to 16,864 pesos and the maximum credit to 113,479 pesos, also includes increases in non-contributory pensions, the Universal Child Allowance, the Universal Pregnancy Allowance and the Family Allowances; (xii) May 22, ARS21 million for the acquisition of 70,000 new computers, within the framework of the federal connectivity program "Juana Manso" that carries out the educational portfolio; (xiii) No amount/estimate: June 5, ordered payment of 3 thousand pesos for those under the Empower Work Program and did not receive IFE; (xiv) No amount/estimate: June 9, national government extended the right to double compensation for individuals who are dismissed from their jobs without just cause; (xv) No amount/estimate: June 9, exempted temporarily from payment of income tax for overtime, guards and additional personnel of Health, Armed, and Security Forces and other activities related to the health emergency; (xvi) No amount/estimate: created assistance programs for individuals with disabilities affected by COVID-19; (xvii) June 12, ARS900 million, emergency measures to face the COVID-19 pandemic and its sanitary, economic and housing consequences; (xvii) No amount/estimate: June 18, extended until September 30 the suspension of the collection of all charges to operate in ATMs; (xix) No amount/estimate: June 22, increase of ARS3000 in the monthly non-contributory financial aid under Training and Employment Insurance; (xx) June 28, ARS1.9 billion grant to province of Mendoza under the the Trust Fund for Financial Development; (xxi) June 30, ARS313 million to launch the Program to Promote Work in the province of Cordova; (xxii) July 7, ARS4 billion budget for 2020 to support the reactivation and completion of National Housing Plan projects; (xxiii) July 15, extended until October 2020 loan benefits under the Emergency Assistance to Work and Production (ATP) program for the performing arts sector; (xxiv) July 16, ARS6.4 billion for the provinces of Jujuy, La Rioja, Tierra del Fuego, and Salta under the Trust Fund for Provincial Development (FFDP); (xxv) July 27, ARS500 million for the program "Empower Work" in Chaco; (xxvi) August 7, ARS100 million for Created the Program for the Promotion of Work, Rooting and Local Supply (PROTAAL); (xxvii) August 19, ARS20 billion to rehabilitate the infrastructure projects in the provinces of Chaco, Misiones, Córdoba, La Pampa and Salta; (xxviii) August 24, an increase of 7.50% for pension benefits as of September; (xxix) September 20, utilities with up to 7 months of past-due payments from March 1 2020 onwards cannot be discontinued; (xxx) October 22, ARS150 million under the Development Fund under the MInistry of Culture to grant economic support to cultural spaces.

Argentina 06 06 - Budget reallocation ARS
Argentina 07 07 - Central bank financing government ARS
Argentina 07A 07A - Direct lending & reserve drawdown ARS
Argentina 07B 07B - Secondary purchase: government securities ARS
Argentina 08 08 - International Assistance Received ARS 37,650,000,000 600,000,000
Argentina 08A 08A - Swaps ARS Central Bank of the Republic of Argentina. https://www.bcra.gob.ar/Noticias/nuevo-acuerdo-swap-banco-republica-popular-china.asp (accessed 14 August 2020).

No amount/estimate: August 6, Signed a currency swap agreements with the Bank of the People's Republic of CHINA (PBC). The new agreements will be valid for 3 years.

Argentina 08B 08B - International loans/grants ARS 37,650,000,000 600,000,000 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 5 May 2020). Wall Street Journal. https://www.wsj.com/articles/argentina-moves-closer-to-sovereign-debt-default-amid-coronavirus-crisis-11590160035 (accessed 29 May 2020).

(i) May 3, instead of defaulting to its creditors, the government proposed a three-year grace period on sovereign debt, a 5.5% reduction in bond principal, and a 62% reduction in interest payments; (ii) May 22, Argentina went into technical default when the 30-day grace period expired on $500 million interest due on $65 billion owed to private creditors.

Argentina 08B1 08B1 - Asian Development Bank ARS
Argentina 08B2 08B2 - Other ARS 37,650,000,000 600,000,000 World Bank. https://www.worldbank.org/en/news/press-release/2020/03/25/banco-mundial-fortalece-apoyo-a-las-familias-mas-vulnerables-de-argentina (Accesed 27 April 2020). USAID. https://www.usaid.gov/news-information/coronavirus/fact-sheets/update-united-states-continues-lead-global-response-covid-19 (accessed 29 May 2020).

(i) World Bank Group approved a USD300 million operation to support Argentina’s efforts to strengthen its social protection system and minimize the impact of the crisis on the most vulnerable families through the "Children and Youth Protection Project”; (ii) USD300 million from USAID in new MRA humanitarian assistance will support COVID-19 response efforts for refugees and host communities.