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Tag Archives: Flexible Credit Line

IMF Lending During the Pandemic and Beyond

By Robert Gregory, Huidan Lin, and Martin Mühleisen Português In the face of unprecedented uncertainty and the severe economic impact triggered by COVID-19, the Fund continues to adapt its lending. At the same time, it aims to ensure realistic targets, uphold the credibility of programs, and foster national ownership. To date, the Fund has provided financial assistance, mainly through emergency lending and precautionary lending tools, to about 80 countries. In addition, more than 30 countries...

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Reopening Asia: How the Right Policies Can Help Economic Recovery

by Chang Yong Rhee  中文, Español, Français, Русский  For the first time in living memory, Asia’s growth is expected to contract by 1.6 percent—a downgrade to the April projection of zero growth. While Asia’s economic growth in the first quarter of 2020 was better than projected in the April World Economic Outlook—partly owing to early stabilization of the virus in some—projections for 2020 have been revised down for most of the countries in the region due to weaker global conditions and more...

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Outlook for Latin America and the Caribbean: An Intensifying Pandemic

By Alejandro Werner Español Latin America and the Caribbean have become the new COVID-19 global epicenter. The human cost has been tragic, with over 100,000 lives lost. The economic toll has also been steep. The World Economic Outlook Update now estimates the region to shrink by 9.4 percent in 2020, four percentage points worse than the April projection and the worst recession on record. A mild recovery to +3.7 percent is projected in 2021. Latin American countries should be cautious in...

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The Short-term Liquidity Line: A New IMF Tool to Help in the Crisis

By Geoffrey Okamoto Challenging times for emerging markets The COVID-19 pandemic has severely disrupted the global economy at every level. Across the world, financial conditions have tightened dramatically, with unprecedented portfolio outflows from emerging markets in terms of both size (a record of about $100 billion) and speed, and markets effectively frozen in some cases. This has created sizable demand for U.S. dollar liquidity, with emerging markets facing sharp liquidity shortages. A...

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