Central and West Asia
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||
No amount/estimate: The Government has announced that they would provide concessional loans to businesses affected by the COVID containment measures.
|01B - Support policies for short-term lending info_outline|
|01C - Forex operations info_outline||
No amount/estimate: Exchange restrictions on current international payments and transactions for private businesses reportedly have been tightened.
|02 - Credit creation info_outline|
|02A - Financial sector lending/funding info_outline|
|02B - Support policies for long-term lending info_outline|
|02B1 - Interest rate reductions|
|02B2 - Other policies to support long-term lending|
|02C - Loan guarantees|
|03 - Direct long-term lending info_outline|
|03A - Long-term lending info_outline|
|03B - Forbearance|
|04 - Equity support info_outline|
|05 - Health and income support|
|05A - Health support||
(i) No amount/estimate: The Government announced that a bonus salary of 20%, 15%, and 10% will be given to healthcare professionals working in the remote rural facilities, frontline facilities, and other rural facilities, respectively.
|05B - Income support|
|05B1 - Tax and contribution deferrals and policy changes|
|05B2 - Tax and contribution rates reduction|
|05B3 - Wage support and subsidies to individuals and households|
|05B4 - Subsidies to business|
|05B5 - Indirect income support|
|05B6 - No breakdown (income support)|
|05C - No breakdown (health and income support)|
|06 - Budget reallocation info_outline|
|07 - Central bank financing government|
|07A - Direct lending & reserve drawdown|
|07B - Secondary purchase: government securities|
|08 - International Assistance Received||TMT5,950,000||USD1,700,000|
|08A - Swaps info_outline|
|08B - International loans/grants||TMT5,950,000||USD1,700,000|
|08B1 - Asian Development Bank||TMT2,730,000||USD780,000||
(i) USD0.50 million allocation for TA9950-REG: Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases; (ii) 3 June 2020, USD0.07 million announced by the ADB as part of the program: Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (additional financing); (iii) 13 July 2020, USD0.13 million funding from the ADB as part of the regional program: Addressing Health Threats in the Central, West and East Asia Region; (iv) 18 November 2020, USD0.05 million under the regional project: Supporting Startup Ecosystem in the Central Asia Regional Economic Cooperation Region to Mitigate Impact of COVID-19 and Support Economic Revival; (v) 26 November 2020, USD0.03 million (TASF) Addressing Health Threats in the Central, West and East Asia Region (Additional Financing) [update].
|08B2 - Other||TMT3,220,000||USD920,000||
USD0.92 million in health assistance to Turkmenistan to prepare laboratory systems, activate case-finding, support technical experts, among others, from the U.S. Agency for International Development (USAID).
|09 - International Assistance Provided||TMT3,500,000||USD1,000,000|
|09A - Swaps info_outline|
|09B - International loans/grants||TMT3,500,000||USD1,000,000||
3 November 2020, USD1 million in humanitarian aid (including food, oil products and other goods) to Russia In the context of the coronavirus pandemic.
|10 - No breakdown||
No amount/estimate: State budget spending is being revised, including to increase health spending for preventing an outbreak of COVID-19 and to provide support to businesses affected by the containment measures.
|11 - Other Economic Measures||
(i) A special regime has been established for the implementation of essential and high-priority imports and projects, which covers foreign currency rationing and transportation arrangements; (ii) The President has approved the list of goods subject to customs duties and the magnitude of such duties. Custom duties on selected goods have been raised to protect domestic suppliers; (iii) 22 May 2020, the president signed a decree on the establishment of the Reserve Currency Fund, with the Central Bank of Turkmenistan as the holder. The Fund will accumulate currency earnings of the ministries, industry departments, their subordinate enterprises, institutions, and all legal entities with public shareholding.
|12 - Non-Economic Measures|
|12A - Measures affecting travel and transport (local and international)||
(i) The authorities have adopted a wide range of measures to prevent a COVID-19 outbreak in the country, including closure of borders, flight cancellations and rerouting, and mandatory COVID-19 testing for arriving travelers; (ii) The authorities have imposed restrictions on internal movement, closed roads between some provinces, and stopped rail transportation; (iii) Starting from 24 March 2020, only Turkmen freight carriers are allowed to transport cargo in Turkmenistan.
|12B - Measures affecting business and workplace||
(i) Starting 24 March 2020, all sports events have been cancelled. Gyms and sports clubs have been shut down in Ashgabat.
|12C - Others||
(i) The authorities have stepped up efforts to digitalize government services, expand e-commerce, and facilitate online and phone payments by SMEs and SOEs through banks; (ii) A commission has been set up for the purchase of essential supplies, medicines, construction equipment, etc.; (iii) As of the first week of November 2020, Turkmenistan has been working with UN agencies to develop a third national plan that covers the humanitarian component of the country's measures to combat COVID-19.