Sum of Measures 1—5 (Total Package)
|Measure||Amount (Local)||Amount (USD)||Details||Update||Source|
|01 - Liquidity Support info_outline|
|01A - Short-term lending info_outline|
|01B - Support policies for short-term lending info_outline|
|01C - Forex operations info_outline|
|02 - Credit creation info_outline|
|02A - Financial sector lending/funding info_outline||
No amount/estimate: 27 March 2020, The Central Bank of Samoa (CBS) stands ready to assist commercial banks through its selected standby concessional facilities to ensure that private sector activities remain robust and enduring in these unique times. CBS also met with four commercial banks on 18 March 2020 and discussed the banking system’s role in the uncertain times ahead. Various relief packages have been considered and will be available for customers on a case by case basis depending on the hardship and impact relating to COVID-19.
|02B - Support policies for long-term lending info_outline|
|02B1 - Interest rate adjustments||
No amount/estimate: April 2020, The CBS continues to maintain an accommodative monetary policy. The CBS will encourage commercial banks to reduce interest rates.
|02B2 - Other policies to support long-term lending||
No amount/estimate: April 2020, The CBS will encourage commercial banks to reduce associated bank fees and charges.
|02C - Loan guarantees|
|03 - Direct long-term lending info_outline|
|03A - Long-term lending info_outline|
|03B - Forbearance||
(i) No amount/estimate: April 2020, The proposed fiscal and economic response package includes provision of a 3-month grace period to be applied for all loan payments; (ii) No amount/estimate: 19 January 2021, The representatives of the Paris Club Creditor Countries have accepted to provide to Samoa an extension of the time-bound suspension of debt service due from 1 January to 30 June 2021.
|04 - Equity support info_outline|
|05 - Health and income support||WST149,939,084||USD55,627,400|
|05A - Health support||
No amount/estimate: (i) April 2020, The package includes expenditure to cover immediate medical response (See Measure 5: Government support to income/revenue). The government has been stepping up its efforts to increase the level of preparedness and prevention. Temporary quarantine facilities have been established in key areas; (ii) 30 June 2020, The health sector continues to be a priority sector for the government in light of the COVID-19 pandemic. The package finances construction and upgrade of rural hospitals.
|05B - Income support|
|05B1 - Tax and contribution deferrals and policy changes||
No amount/estimate: April 2020, Support for the private sector includes a 6-month moratorium on pension contributions for the hospitality sector.
|05B2 - Tax and contribution rates reduction||
No amount/estimate: April 2020: (i) Support for the private sector includes (a) a temporary exemption on import duties on most commonly bought food items for households, (b) duty concessions to be applied to an expanded list of agricultural and fishing materials.
|05B3 - Subsidies to individuals and households||
No amount/estimate: April 2020: (i) Support for citizens includes (a) establishment of the Emergency Price Control Board to keep wholesale and retail prices in check and bring them down, if necessary; (b) provision of financial assistance to members of the National Provident Fund in the form of a refund of their loan payments for March 2020; (c) and a temporary reduction of utility bills (both electricity and water) for 6 months through September 2020; (ii) 30 June 2020, The second package provides a dividend payout by Samoa National Provident Fund, a benefit of WST50 per citizen for a national ID registration, a special one-off pension payment, unemployment benefit, financial support for utility bills, and paid training for the hospitality sector. The government will also continue to assist remote education services; (iii) No amount/estimate: 12 February 2021, The Samoa Tourism Authority continues to implement the WST1million Phase II of the Government Stimulus Package (See Measure 5C) for Tourism and Hospitality, in conducting a capacity building and development program through training courses. More than 700 displaced employees and those working on reduced hours within the Tourism Industry due to Covid-19, are benefitting from this initiative with Short and Formal courses since the initiative began in September 2020.
|05B4 - Subsidies to businesses||
No amount/estimate: (i) April 2020, To compensate part of the losses in interest income from the 3-month grace period applied to loan payments, local commercial banks will receive payments from the government; (ii) 22 July 2020, The Government of Samoa extends its financial assistance, as part of the Phase II of its COVID-19 stimulus package, to select nonprofit organizations within the country who work toward providing support services to citizens deemed as most vulnerable.
|05B5 - Indirect income support||
9 March 2021, The COVID-19 Preparedness and Recovery Diversification of the Economic Sector in Samoa (CPRDESS) Project will be implementaed in April 2021 with the aim of strengthening COVID-19 preparedness and accelerating socio-economic recovery through the revitalization, diversification and expansion of the agriculture and fisheries sector. It prioritizes on the creation of sustainable employment opportunities for women and youth in this sector [update].
|05B6 - No breakdown (income support)|
|05C - No breakdown (health and income support)||WST149,939,084||USD55,627,400||
(i) April 2020, The government has put together the first phase of the fiscal and economic response package, amounting to WST66.3 million. 7 April 2020, The package approved by parliament is centered around the mission of "Support the private sector so they can feed the nation." (ii) 26 May 2020, The Samoan government unveiled its second stimulus package of WST83.1 million (about USD29.88 million) to help the country's private sector battle against COVID-19. The measures tabled to the parliament include an extension of utility subsidies, retraining programs for unemployed workers, increases in monthly pensions, one-off cash payments to citizens, assistance to exporters, and support for nongovernment organizations; (iii) 30 June 2020, Parliament approved the FY2021 budget, including the second phase of the fiscal and economic response package that amounts to WST83.1 million. The budget is centered around the mission of “Weaving a prosperous and secure future for Samoa together,” and includes a similar set of measures as in the first stimulus package; (iv) 1 September 2020, The USD0.2 million allocation approved in the Legislative Assembly’s Fiscal Year Budget 2020-2021 for the Human Rights Protection Party (HRPP) has been reabsorbed back in the budget to assist the country in its collective response to the COVID-19.
|06 - Budget reallocation info_outline||WST539,084||USD200,000||
1 September 2020, The USD0.2 million allocation approved in the Legislative Assembly’s Fiscal Year Budget 2020-2021 for the Human Rights Protection Party (HRPP) has been reabsorbed back in the budget to assist the country in its collective response to the COVID-19.
|07 - Central bank financing government|
|07A - Direct lending and reserve drawdown|
|07B - Secondary purchase: government securities|
|08 - International Assistance Received||WST266,671,159||USD98,935,000|
|08A - Swaps info_outline|
|08B - International loans/grants||WST266,671,159||USD98,935,000|
|08B1 - Asian Development Bank||WST98,544,474||USD36,560,000||
(i) April 2020, USD0.78 milion - TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases. As of 29 January 2021, the amount increased to USD0.92 million; (ii) 15 April 2020, USD2.9 million - REG: Pacific Disaster Resilience Program (Phase 2) under ADF; (iii) 15 April 2020, USD0.02 million TASF - REG: Strengthening Social Protection in the Pacific; (iv) 24 April 2020, USD0.13 million TASF - REG: Developing the Pacific Health Sector (Additional Financing); (v) 5 June 2020, USD0.14 million TASF - REG: Pacific Economic Management, Phase 3 (Additional Financing); (vi) 24 June 2020, USD0.09 million Supporting Public Sector Management Reforms; (vii) As of 31 July 2020, USD0.22 million (Regular OCR) - Trade Finance Program (Loan). As of 12 March 2021, the amount decreased to USD0.09 million [update]; (viii) No amount/estimate: 24 July 2020, USD0.04 million cofinanced amount under Strengthening Social Protection in the Pacific (Additional financing); (ix) 24 July 2020, USD0.21 million (TASF) Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 3); 29 July 2020: (x) USD20 million (ADF) Health Expenditure and Livelihoods Support Program; (xi) USD1.5 million COVID-19 Emergency Response under the Asia Pacific Disaster Response Fund; (xii) 10 August 2020, USD0.20 million TASF - Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (xiii) 12 August 2020, USD0.06 million TASF - Support for Gender Sensitive Responses to COVID-19 in the Pacific Developing Member Countries; (xiv) 24 November 2020, USD10 million - Pacific Disaster Resilience Program (Phase 3) under ADF; (xv) 17 December 2020, USD0.30 million TASF - Supporting Recovery by Micro, Small and Medium-sized Enterprises in the Pacific from the Effects of the COVID-19 Pandemic.
|08B2 - Other||WST168,126,685||USD62,375,000||
(i) 26 March 2020, The World Bank, through an IDA grant, has delivered USD5.1 million in immediate funding to support Samoa’s response to the global COVID-19 (coronavirus) pandemic. The funds will support Samoa’s efforts to prepare and manage its response to COVID-19; (ii) 24 April 2020, The World Bank has approved funding of USD3.4 million (USD2.9 of which is a grant) to further support Samoa’s efforts to combat the COVID-19 (coronavirus) pandemic; (iii) 24 April 2020, The IMF approved the disbursement of USD22.03 million in emergency financing under the Rapid Credit Facility to help Samoa address urgent balance of payments needs created by COVID-19; (iv) 8 May 2020, The Australian Government has committed WST18.4 million (AUD10.5 million or USD6.53 million) in response to the economic and health shocks caused by COVID-19, and is working in partnership with the Government of Samoa to deliver this support package; (v) 19 June 2020, UNDP, in collaboration with UNICEF, provided USD0.293 million worth of testing kits and machine to support the government in addressing gaps in COVID-19 testing capacities; (vi) 5 November 2020, The British High Commission presented a donation of GBP20,000 (USD0.022 million) for ADRA’s continued delivery of humanitarian programs to households and communities as part of Samoa’s COVID-19 response; (vii) 5 December 2020, The World Bank’s Board of Executive Directors approved USD25 million in grants to support Samoa’s social and economic response and recovery from COVID-19 and boost efforts to build resilience to climate change, natural disasters and health-related risks.
|09 - International Assistance Provided|
|09A - Swaps info_outline|
|09B - International loans/grants|
|10 - No breakdown|
|11 - Other Economic Measures|
|12 - Non-Economic Measures|
|12A - Measures affecting travel and transport (local and international)||
(i) 24 January 2020, Samoa implemented travel restrictions to protect citizens of the country, among the first countries in the world to do so and has gradually tightened the rules; (ii) 20 March 2020, The government declared a State of Emergency and instructed the public to avoid unnecessary travel; (iii) 6 August 2020, Emergency Order #24 was issued which includes travel regulations to Samoa from New Zealand and Fiji; (iv) 25 August 2020, All international travel to and from Samoa by plane are temporarily suspended except as provided in exceptional circumstances approved by Cabinet; (v) Repatriation flights from New Zealand and Australia arrived on 18 September, 6 and 30 October 2020 to bring home citizens, workers under the seasonal employment programs, and scholarship students in the region. Additional repatriation flights from Europe and the US are scheduled throughout November 27 to December 11; (vi) 21 December 2020, Emergency Order #35 was issued still suspending all international travel to and from Samoa by plane except as provided in exceptional circumstances approved by Cabinet, domestic flights between Opolu and Savaii may operate on Sundays for emergency medical services only; (vii) 30 December 2020, due to the emergence and rapid transmission of the Covid-19 variant detected in the UK and South Africa, all travelers originating or transiting from these countries are denied entry to Samoa until further review; (viii) 6 January 2021, Emergency Order #37 was issued with the same provisions as #35 and in effect until 17 January 2021; (ix) 11 January 2021, entry of passengers from select countries will be assessed on a case-to-case basis and required negative RT-PCR tests (for details, see: https://bit.ly/2Y2Ttcj); (x) 14 January 2021, Emergency Order #38 was issued extending previously issued orders until 14 February 2021.
|12B - Measures affecting business and workplace||
(i) April 2020: Currently most businesses are under normal operations; (ii) 20 June 2020, The government issued the latest Emergency Order, #19, which includes a revised supermarket operating hours; (iii) 6 August 2020, Emergency Order #24 was issued which includes limited operating hours for hotels, restaurants, and small shops; (iv) 21 December 2020, Emergency Order #35 allowing longer operating hours for markets, small shops, supermarkets and businesses; (v) 6 January 2021, Emergency Order #37 was issued with the same provisions as #35 and in effect until 17 January 2021; (vi) 14 January 2021, Emergency Order #38 was issued extending previously issued orders until 14 February 2021.
|12C - Others||
(i) 20 March 2020, The government declared a State of Emergency and instructed the public to avoid mass gatherings (of five or more people); (ii) 26 March 2020, The amended State of Emergency Orders was signed into law, which gives police officers the legal authority to enforce the Emergency Orders to the full extent of the law; April 2020: (iii) The government is taking full precautions and preventive measures to control the transmission of COVID-19, including preparation of the health system to treat and care for patients; (iv) The government issued the amendments of the Emergency Orders on May 13 and May 20, to gradually lift lockdown restrictions. Social distancing measures still apply for dining at restaurants, and public and village gatherings are permitted only on limited occasions. Social gatherings in public places remain closed until further notice; (v) 28 July 2020, The government extended the State of Emergency Orders until August 30; On 28 August 2020, it was extended up to 27 September 2020; On 25 September 2020, the State of Emergency was further extended until 26 October 2020; On 27 October 2020, it was extended until 22 November 2020; (vi) 6 August 2020, Emergency Order #24 was issued which includes additional guidelines on public gatherings such as church services, weddings, and funerals; (vii) 21 December 2020, Emergency Order #35 was issued permitting public gatherings in most places, except in airports and wharves, swimming in beaches and rivers has also been permitted; (viii) 6 January 2021, Emergency Order #37 was issued with the same provisions as #35 and in effect until 17 January 2021; (ix) 14 January 2021, Emergency Order #38 was issued extending previously issued orders until 14 February 2021.