Date Time
IMF Executive Board Approves US$105.63 Million Extended Arrangement Under Extended Fund Facility for Seychelles
Washington, DC: On July 29, 2021, the Executive Board of the International Monetary Fund (IMF) approved a 32-month extended arrangement under theExtended Fund Facility(EFF) for Seychelles for SDR 74 million (US$105.63 million), or 323 percent of Seychelles’ quota. The Board’s approval allows for an immediate disbursement equivalent to US$ 34.26 million.
Seychelles was hit hard by the COVID-19 crisis. The authorities reacted swiftly, by locking down the economy, thereby keeping infection and fatality rates low. However, the travel restrictions and global economic downturn triggered unprecedented economic contraction. The authorities responded with measures to mitigate the economic fallout on businesses and households. But the public debt ratio increased sharply, reflecting the primary balance deterioration, exchange rate depreciation, and GDP contraction. As
IMF Executive Board Discusses A Strategy To Help Members Address Climate Change-Related Policy Challenges
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IMF Executive Board Discusses Strategy to Help Members Address Climate Change-Related Policy Challenges
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Date Time
IMF Executive Board Completes First Review Under Precautionary and Liquidity Line Arrangement for Panama
The IMF Executive Board completed the first review under the two-year Precautionary and Liquidity Line (PLL) arrangement for Panama which was approved on January 19, 2021 in the amount equivalent to US$2.7 billion (SDR 1.884 billion).
The PLL serves as insurance against extreme external shocks stemming from the COVID-19 pandemic, with access in the first program year equivalent to about US$1.35 billion (0.942 billion SDR). The authorities intend to continue treating the arrangement as precautionary.
Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed today the first review under the Precautionary and Liquidity Line (PLL) Arrangement for Panama for SDR 1.884 billion (500 percent of Panama’s quota, equivalent to about US$2.7 billion) (Seepress release No. 21/19). The Panamanian authorities have not drawn on the arrangement and inten
IMF Executive Board Discusses The Rise Of Public And Private Digital Money—A Strategy To Continue Delivering On The IMF s Mandate
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