COVID-19
Managing Budgetary Pressures in Africa

Public Finance Response Monitor

The COVID-19 Africa Public Finance Response Monitor provides an overview of expected financing gaps posed by COVID-19 and how African governments are responding to these through expenditure reprioritisation, efficiency gains, resource mobilisation, social assistance, business support, and monetary and macrofinancial policy measures.

The COVID-19 Africa Public Finance Response Monitor also provides information on health financing in Africa (as a proxy of pandemic preparedness) and up-to-date statistics of confirmed COVID-19 cases, tests and deaths. The COVID-19 Africa Public Finance Response Monitor includes a subset of actions taken by governments and does not aim to provide a full picture of the quantitative measures undertaken. Confirmed cases, tests and deaths will be updated daily and response measures will be updated weekly.

Find out more about the Monitor by downloading the Public Finance Response Monitor concept note below.

Algeria

Tests p/million
77
Confirmed cases
35160
Confirmed deaths
1302
COVID-19: expected financing requirement
21 May: A comprehensive response plan of 70 billion Dinars (USD 543 million or 0.3% of GDP) to mitigate the health and economic impacts of the COVID-19 crisis. This includes 3.7 billion Dinars for medical supplies, 16.5 billion for bonus payments to health workers, and 8.9 billion for the health sector’s development. For the economic impact, the law includes 20 billion for allowances to the unemployed because of COVID, and 11.5 billion for transfers to poor households.
Official COVID-19 links
http://covid19.sante.gov.dz/

http://www.premier-ministre.gov.dz/

Government health expenditure p/capita (PPP USD) (2017)
676
Government health expenditure of government expenditure (2017)
11%
Out-of-pocket expenditure of total health expenditure (2017)
31%
External health expenditure of health expenditure (2017)
11%

Domestic and external financing
The IMF and International Bank for Reconstruction and Development have contributed USD 100 million and USD 32 million (0.06% and 0.02% of GDP) towards COVID-19 medical equipment and drugs, respectively.

The President of the Republic ordered the consecration of an amount of USD 100 million (0.06% of GDP) to accelerate the import of pharmaceutical products.

26 May: Algerian president unwilling to take on an IMF loan; fears of long-term repercussions.

29 June: Announced economic stimulus of USD 323 million (which translates to 1.9% of GDP).
Monetary and macrofinancial measures
On 15 March, Bank of Algeria lowered the reserve requirement ratio from 10% to 8%, and its main policy rate by 25 basis points to 3.25%.

On 6 April, the Bank of Algeria announced that it was easing solvency, liquidity and NPLs ratios for banks.

On April 30, the Bank of Algeria announced that it was cutting its main policy rate from 3.25 to 3.00 %, that it was lowering its reserve requirement ratio from 8 % to 6 %, and that it was lowering haircuts on government securities used in refinancing operations.

PFM policies, practices and procedures
30 April: Authorities banned exports of several products, including food, medical and hygiene items.

30 April: Within the framework of national measures and efforts aimed at preventing and fight against the spread of COVID19, the General Directorate of Customs has established a permanent national unit for prevention, monitoring and combating this virus at the level of the services of customs.

30 April: Contractual deadlines have been relaxed for those rendering services to the public sector. Penalties for companies that experience delays in completing public contracts have also been suspended.

On 3 May, at a meeting of the Council of Ministers, the Minister of Trade made a presentation on the digital system for the supervision and monitoring of the market supply of food and agricultural products in the context of the spread of the Covid-19 pandemic. This system aims to create a database to identify all the actors involved in the production and distribution of mass consumption products, determine production capacities and organise the distribution perimeter, and ensure periodic monitoring of storage levels at the national level for the public and private sectors.

20 May: Notable changes to the 51/49 rule regarding local versus international financing. There are now no restrictions with the exception of a few industries. Further, the removal of the obligation for local financing is hoped to set the economy up to a major influx in foreign investment.

4 June: Supplementary budget law was enacted.
Budget adjustments and healthcare allocations
End-March: In response to the oil price shock and COVID-19 pandemic, the government will lower recurrent spending by 30%, while keeping wages intact and protecting health and education spending. On 3 May, the Government stated that, instead of the original 30%, it would lower recurrent spending by 50%.

End-March: The authorities announced several measures to cut the import bill by at least USD 10 billion (6% of GDP).

On 18 May, the Minister of Finance presented the Supplementary Finance Bill (PLFC) for 2020 before the Finance and Budget Committee of the National People's Congress (APN). The PLFC 2020 provides for the reduction of budgetary expenditure by 5.7% (representing 2.2% of 2019 GDP) from the initial Finance Law (LF). A first cut of 141 billion dinars was agreed in the operating budget of the State within the framework of the bill of Finances 2020 (PLFC 2020). The budget deficit should reach 10.4% of GDP against 7.2% of GDP in the initial LF.

21 May: The Draft supplementary finance law (SFL) provides 21.2 billion dinars (USD 164 401 705) for the health sector, including medical supplies, bonus payments for health workers, and health sector development. SFL provides 31.5 billion dinars as an economic response, which includes unemployment allowances and transfers to poor households.

4 June: The enacted supplementary finance law (SFL) includes provisions amounting to 70 billion dinars to mitigate the health and economic impacts of the COVID-19 crisis. This includes 3.7billion for the health sector to acquire medical supplies, 16.5 billion for bonus payments to health workers, and 8.9 billion for the health sector’s development. Available in French: https://www.joradp.dz/HFR/Index.htm
Transparency, accountability and participation

Business support and tax measures
End-March: Declaration and payments of taxes for small and medium enterprises have been postponed.

19 May: The Algerian Tax Authority has announced the following measures (i) extended the deadlines for monthly tax returns; (ii) extended the payment deadline for the first 2020 prepayment; (iii) for taxpayers under the special lump sum tax regime, the tax authority extended the income tax return for the first quarter of 2020.

On 31 May, Algeria’s parliament passed legislation allowing foreign investors to take majority stakes in projects in “non-strategic sectors” as the country seeks to diversify its economy away from oil and gas in the wake of the economic downturn exacerbated by the COVID-19 outbreak.
Financing social assistance and food relief
End-March: Declaration and payments of income taxes for individuals have been postponed.

End-March: To avoid crowding in post offices, beneficiaries (1 Million) can receive Solidarity Allowance benefits at any time without a specific deadline.

End-March: An in-kind distribution campaign of food and hygiene items to the most vulnerable families was started. This included those living in isolated areas and impacted by the lockdown.

End-March: To reduce exposure for elderlies, a proxy letter can be delivered to another person to receive pensions/benefits in place of the beneficiary.

30 April: Ramadan allowance given to poor households has been increased from USD 47 (6 000) to USD 78 (10 000) dinars.

2 May: Despite the huge reduction in the budget, the government agreed to increase the minimum wage from USD 140 (18 000 dinars) per month to USD 156 (20 000 dinars) while income tax will be abolished for those earning USD 234 (30 000 dinars) or less.

3 May: At the meeting of the Council of Ministers, there was discussion on reviving the National Agency for Support to the Employment of Young People (ANSEJ) through the "Restart Algeria" programme. This programme is a national development plan which will be the engine of global economic development and will provide a more legible picture of the situation of projects subsidised by the ANSEJ scheme, from its creation until the end of the year in courses, numbering 400 000 projects for an amount of approximately USD 2.6 Billion (334 billion Dinars).

21 May: From May to July 2020, the World Food Programme Algeria is increasing the number of beneficiaries receiving general food assistance from 133 672 to 152 786 to include those refugees who had been identified as least vulnerable to food insecurity in WFP’s last assessment. These refugees are likely to suffer from the economic impact of the COVID-19 pandemic on small businesses and those that are self-employed.

21 May: In response to the economic impact on household and enterprises of the lockdown measures, the authorities also announced that: (i) the declaration and payments of income taxes for individuals and enterprises have been postponed , except for large enterprises; and (ii) contractual deadlines would be relaxed and penalties for companies that experience delays in completing public contracts would be suspended.USD 11.5 billion (or 6.6% of GDP) in transfers to poor households as part of the economic response provisioned in the supplementary financial law.

Angola

Tests p/million
Confirmed cases
1672
Confirmed deaths
75
COVID-19: expected financing requirement
Official COVID-19 links
http://www.minsa.gov.ao/

http://www.governo.gov.ao/

Government health expenditure p/capita (PPP USD) (2017)
82
Government health expenditure of government expenditure (2017)
5,43%
Out-of-pocket expenditure of total health expenditure (2017)
35%
External health expenditure of health expenditure (2017)
5,43%

Domestic and external financing
The Angolan sovereign wealth fund has agreed to offer USD 1.5 billion (1.42% of GDP) on condition of future repayments.

5 May: The UN has offered a grant of USD 12.5 Million (or, 0.01% of GDP) to Angola in order to assist with Covid-19 relief

12 May: The United States government has pledged USD 3.5 million (less than 0.1% of GDP) in support of Angola's Covid-19 response effort.

29 May: The EU has provided the Angolan authorities with a package of 10 million Euros (0.01% of GDP) to assist in Angola's Covid-19 response efforts.

22 June: UNICEF is expected to fund part of the Angolan Covid-19 response plan with USD 7.1 million (less than 0.01% of GDP).
Monetary and macrofinancial measures
Issuance of Eurobond of USD 3 billion has been postponed due to unfavourable market conditions related to the coronavirus pandemic.

The Government has asked the National Bank of Angola to increase the rollover rate in domestic financing and encourage the INSS to purchase Treasury Bonds.

May 7: The Monetary Policy Committee in the National Bank of Angola brought forward its ordinary session to analyse the impact of Covid-19 in the economy and assess the use of monetary policy as a means to relieve pressure on the Angolan economy.

PFM policies, practices and procedures
Imports of some food, medicines and bio-safety materials will benefit from a temporary exemption on payment instrument limits, announced the National Bank of Angola, on publishing instruction no. 05/2020, of 30 March.

Suspension of exports of nationalized food, medicine and medical equipment, including those carried by the inhabitants of border areas.

A list of Covid-19 prevention and treatment medico-medicated goods subject to the regulated price regime has been released.

SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics

May 4: The Angolan government has eased contractual procurement procedures specifically for public contracts of any goods, services or works related to mitigating the impact of Covid-19 on the country. This relates to the passing of Presidential Decree 120/20 and Executive Decree 153/20

On 27 June, a revised general state budget proposal was examined by parliament.

30 June: Public procurement procedures have been further informalised to facilitate administrative easing; any written document specifying required information will be accepted and the value of the procedural will be allowed to be conducted.
Budget adjustments and healthcare allocations
In April, additional healthcare spending to mitigate coronavirus, estimated at USD 40 million, was announced.

On 9 April, the Executive designed a set of immediate cost-cutting measures in a Presidential Decree that, including:
Freezing 30% of its goods and services budget and its CAPEX has been suspended pending completion of the budget review;
Suspension of all processes of new admissions and promotions in the Civil Service, with the exception of sectors previously approved, until the completion of the Budget Review;
Reduction of travel by Executive Members and Government Executive Delegations;
Redefinition and classification of the range of vehicles to be attributed to State managers and suspension of the acquisition of new vehicles for personal use;

22 April: the Minister of Finance stated that the execution of all government contracts whose source of funding has not been secured or whose goods/services are not of a priority to the structural integrity of the economy are to be suspended. This suspension does not apply to health, education, social action, logistical supply, sanitation and other previously-secured-fund-contracts with the state.
Transparency, accountability and participation
15 April: a website for Economic Relief (https://alivioeconomico.org/) has been recently launched by the Ministry of Economy and Planning. It is a digital tool that outlines the measures taken by the government to alleviate the negative impact of the Covid-19 pandemic on the country’s economy. It provides information on tax relief, social security requirements, financing packages and some current expenditure to be carried out.

Business support and tax measures
30 April: The Ministry of Finance has proposed reducing the Industrial Tax, to give companies more resources to reinvest and thus renew their business; strengthening the capitalisation of the Credit Guarantee Fund; reinforcement of lines of credit to support business initiatives in the private sector.

30 April: Immediate operationalisation of credit to support food producers and start of the Rural Trade Program

30 April: Postponement of the removal of fuel subsidies to another financial year.

30 April: Exemption from payment of Value Added Tax and customs duties for goods imported for the purpose of humanitarian aid and donations.

30 April: In an attempt to promote the oil sector amidst declining demand due to Covid-19, the parliament of Angola has adopted legislation which will grant tax benefits (a deduction of investment premiums on tax on income from oil) to specific oil blocks in the country.

30 April: Due to the Covid-19 pandemic, the state will refrain from collecting USD 260 million (0.14% of GDP) in tax revenues from companies. The national institute of social security will also refrain from taking contributions of up to USD 50 Million (0.03% of GDP) as a means to relieve companies paying social security benefits. This applies until the 10th of May 2020, and will be subject to applications from various companies.

11 May: Announcement of measures to ensure financial support to maintain minimum levels of activity of micro, small and medium-sized enterprises in the manufacturing sector, through the consignment of USD 775 million (0.73% of GDP) and the removal of some administrative procedures. These are mainly related to setting up companies, such as statistical registration and requests for a commercial permit to conduct certain activities.
Financing social assistance and food relief
30 April: applications for a moratorium on personal credit repayments have begun. These measures apply to personal creditors who have paid their required credit debt off by end of March 2020, and are now facing difficulties paying off credit thereafter. This moratorium will last 60 days.

25 May: As part of a package of social protection responses, the Ministry of Social Affairs, Family, and Women’s Promotion (MASFAMU) announced that the Child Grant implemented in Bie, Moxico, and Uige provinces will be topped up (from 3000 to 5000 Kwanzas, or approximately USD 6 to USD 10 monthly) and a double payment will be made. The government has also adapted the payment procedures to ensure adequate sanitation and worker protection during the transfers.

14 April: The United Nations has granted Angola USD 3.5 million in order to prop up food security in Namibe, Huila, Cunene and Cuando Cubango amidst the Covid-19 crisis.

14 May: The Ministry of Social Action, Family and Women Empowerment is expected to disburse AOA 315 million (USD 562 500) to support food distribution efforts to vulnerable groups throughout Angola.

Benin

Tests p/million
Confirmed cases
1936
Confirmed deaths
38
COVID-19: expected financing requirement
In March, a comprehensive mitigation and prevention plan is estimated at CFAF 60 billion (USD 100 million or 0.7% of GDP).

By April, the Government of Benin had prepared a COVID-19 response plan for USD 320 million (1.7% of GDP) to contain health risks and support the economy.

26 June: The government of Benin has prepared a Covid response plan for USD 672 million, or 4.7% of GDP.
Official COVID-19 links
https://www.gouv.bj/coronavirus/

Government health expenditure p/capita (PPP USD) (2017)
17
Government health expenditure of government expenditure (2017)
3,72%
Out-of-pocket expenditure of total health expenditure (2017)
43%
External health expenditure of health expenditure (2017)
3,72%

Domestic and external financing
Benin is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. Benin will receive relief of USD 10.17 million (or 0.07% of GDP).

A COVID-19 Fund has been set up under the Minister of Economy and Finance.

15 May: The IMF Executive Board approved an immediate disbursement of USD 125.1 million (or, 0.87% of GDP) to Benin to address the urgent financing needs stemming spread of COVID-19 and to mitigate its economic and social impacts.

20 May: Additional domestic financing relative to the budget plan of CFAF 65.4 billion (USD 109 million, or 0.76% of GDP).

28 April: The World Bank approved an additional financing of USD10.4 million from the International Development Association (IDA) to support Benin's efforts to fight COVID-19 (coronavirus) and help the country respond to public health emergencies.The Regional Disease Surveillance Systems Enhancement Project (REDISSE) has earmarked USD 20 million (0.14% of GDP), while USD 10 million (0.07% of GDP) is being funded by the Contingency Emergency Response Component (CERC) of the Benin Early Years Nutrition and Child Development Project (EYNCDP), bringing the sum total allocated by the World Bank to Benin's emergency measures to USD 40 million.

26 June:The World Bank Board of Directors approved an International Development Association (IDA) additional financing of USD 50 million (approximately 0.3% of GDP) to help Benin mitigate the impact of the coronavirus health crisis in the socio-economic recovery phase.
Monetary and macrofinancial measures
On March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 559 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 7,8 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1,7 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

On March 25: Further measures include: i) allocation of XOF 25 billion (USD 41 million) to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

30 April: The regional central bank has also created "Covid-19 T-bills" as a means to raise funding during the pandemic.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
On April 27, Heads of states of the West-Africa Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU growth and stability Pact setting six convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member-countries cope with the fallout of the Covid-19 pandemic, allowing member countries to raise fiscal deficits temporarily.

30 April: A committee with special powers to make resource allocation decisions has been created.

On 1 April: The government made protective masks available at the subsidized price of FCFA200 (USD 0,33).

30 April: The government has authorised its central purchasing office to make chloroquine available at a subsidized price.
Budget adjustments and healthcare allocations
End-April: The mitigation and prevention measures taken so far by the authorities amount to CFAF 10 billion (about USD 17 million or 0.1 % of GDP).

20 May: On the revenue side, the projected tax and customs shortfall due to the economic slowdown and the border closure with Nigeria is estimated at 1.1% of GDP (under the assumption that the border remains closed until mid-year). On the spending side, the authorities plan to reallocate 0.6% of GDP from non-essential goods and services and non-health capital expenditure to the new priorities of the emergency package estimated at 1.7% of GDP. As a result, the 2020 fiscal deficit is revised upward by 1.7% of GDP.

20 May: Within the budget envelope, the authorities have reallocated CFAF 31 billion from low-priority capital projects and CFAF 19.7 billion from recurrent spending.

26 June: Authorities have allocated an increase in healthcare spend by CFAF 60 billion (USD 103 million) as part of their response plan.
Transparency, accountability and participation
20 May: As part of their committment to the IMF, the authorities are committed to conducting an audit of their response plan next year, which will be independently carried out by the Accounting Chamber and made available to the public on its website. The authorities will also publish the procurement contracts of the main projects, indicating their amount and beneficiaries.

Business support and tax measures
April 2020: applications for a moratorium on personal credit repayments have begun. These measures apply to personal creditors who have paid their required credit debt off by end of March 2020, and are now facing difficulties paying off credit thereafter. This moratorium will last 60 days.

10 June: The stimulus package announced by authorities is expected to cover 70% of gross salaries of all formal sector employees, reimburse VAT, and exempt businesses from other taxes and utility payments over a 3-month period.
Financing social assistance and food relief
21 May: One third of the response plan will consist of transfers to vulnerable households representing above one quarter of the population. A system of cash wires through mobile banking building on ARCH (the new health insurance system) or channelled through the safety nets component of the World Bank ACCESS project is being considered. If technical constraints prevent its use, the authorities will resort to more traditional forms of transfer, such as food distribution programs and utility bill subsidies. Both cash transfers and subsidies are expected to benefit the formal and informal sectors.

Botswana

Tests p/million
1325
Confirmed cases
804
Confirmed deaths
2
COVID-19: expected financing requirement
1 March: The authorities anticipate spending of around P5 billion (USD 42 billion or 2.4% of GDP).

25 March: Presidential Directive directed the Ministry of Finance and Economic Development to urgently mobilise P2 billion (USD 166 million or 10% of GDP) through transfers from Special Funds and appropriation from the Consolidated Fund and that the funds be paid into the COVID19 Relief Fund. The Fund will cover provision of psychosocial support to all those affected, support workers, stabilise businesses and ensure availability of strategic supplies and explore opportunities for economic diversification.
Official COVID-19 links
https://cms1.gov.bw/

Government health expenditure p/capita (PPP USD) (2017)
521
Government health expenditure of government expenditure (2017)
9,15%
Out-of-pocket expenditure of total health expenditure (2017)
5,25%
External health expenditure of health expenditure (2017)
9,15%

Domestic and external financing
On 31 March President Masisi announced that an economic stimulus package is being developed to buffer the impact of COVID-19.

Cabinet members have pledged 10% of their salaries to the relief fund for a period of six months. The amount comes up to about USD 14 000 per month and USD 84 000 over the six-month period.

Judges of the High Court, and Justices of the Court of Appeal have unanimously agreed to contribute 5% of their basic salary towards the Relief Fund.

1 May: The United States government has contributed P56 million pula (USD 4.65 million, or 0.03% of GDP) to Botswana's COVID-19 pandemic response.

8 June: The UNDP is to expand the flagship programme, the "Business Supplier development Programme" (SDP), by providing additional assistance to SME suppliers.
Monetary and macrofinancial measures
The Bank of Botswana has received commitments from commercial banks to reduce charges for digital transactions by at least 25%. In addition, limits on mobile money transactions have been raised.

The prudential capital adequacy ratio for banks operating in Botswana has been reduced from 15 to 12.5%

Banks and nonbank offerors of credit have agreed to offer loan restructuring (including for mortgages and vehicles) and payment holidays for affected sectors as of end of April 2020.

On April 30, the Monetary Policy Committee of the Bank of Botswana announced that it would reduce the bank rate by 0.5%, from 4.75% to 4.25%. It also reduced its reserve rate from 5% to 2.5% in order to improve liquidity.

30 April: The Bank of Botswana introduced a new annual downward rate of crawl from 1.51% to 2.87%, effective 1 May 2020, which together with the bank rate reduction will contribute to further easing of rel money of real monetary conditions.

25 June: The Bank of Botswana is to introduce measures to improve liquidity. This includes; (i) Reducing the capital adequacy ratio for banks from 15% to 12.5%; (ii) Broadening access to repo facilities; (iii) Reducing overnight funding costs; and (iv) Extending collateral constraints for bank borrowing from the Bank of Botswana so as to include traded stocks and corporate bonds.

PFM policies, practices and procedures
30 April: All Government institutions will pay purchase orders within 5 days and parastatals will pay within 24 hours. Measures have been taken to improve the efficiency of procurement processes. Government will pay all outstanding arrears for invoices within 2 weeks.

30 April: The COVID-19 Economic Advisory Committee has been evaluating the potential economic impact on Botswana, and has prepared a package of interventions designed to mitigate that impact and provide some support to businesses and households, consistent with available fiscal space.

SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

30 April: Botswana Innovation Hub, through its annual innovation fund, called for proposals from entrepreneurs to address challenges in public health systems, public service delivery, transportation and payments, logistics and value chains.

1 June: Moody’s has changed Botswana’s A2 sovereign ratings from stable to Negative due to the Covid-19 shock to growth and revenue on the economy and its diamond sector.

3 June: Government will continue to ensure the availability of strategic supplies to Botswana at a regulated price including; a build-up of fuel and grain reserves, and the sufficient provision of water tanks and medical equipment.
Budget adjustments and healthcare allocations
On 24 April, Finance Minister Matsheka noted projected revenue will fall from P62.4 billion to 48 billion (22% decline). He said government has revised the budget by doing away with conferences, and deferring salary increment for public servants, which was supposed to come into effect on April 1, 2020. The deferment will last for at least six months. Total expenditure has been revised downward by P8 billion from P59.6 billion.

By 24 April, the Ministry of Health submitted a request of P2 472 700 995 (USD 202 million, or 1.1% of GDP), for laboratory commodities, personal protective clothing and equipment, medicines, linen, accommodation for people on quarantine and operational costs. The government approved a part of this request.
Transparency, accountability and participation
On 8 May, The Ministry of Finance and Economic Development informed the public that for transparency and accountability purposes, all name of companies and organisations that have benefitted from the Government wage subsidy for April have been published on the Ministry of Finance Website.

Business support and tax measures
To give businesses cash-flow relief, Government, through the Ministry of Finance and Economic Development will:
• Guarantee loans by commercial banks to businesses most affected by COVID-19;
• Give eligible businesses affected by COVID-19 access to credit to support ongoing operations in conditions where credit becomes more difficult to obtain and;
• Give tax concessions to businesses in eligible sectors.
• VAT refunds to businesses will be expedited to assist with cash flow.

• Banks have agreed to offer restructuring of loan facilities through which each bank will consider each case within their credit policy and parameters. This will include owner-occupied residential property mortgages and motor vehicle loans;
• All commercial banks will offer a payment holiday for 3 months with the option to extend to six (6) months to the affected sectors;
• Regular payment obligations including life insurance premium payment, retirement fund contributions and loan instalments will be restructured and rescheduled to offer relief for at least three months to COVID-19 affected people subject to individual policies.

May 7: The government has established a 2 Billion Pula (1.1% of GDP) Covid relief fund aimed at financing a waiver on the mandatory company skills levy, as well as creating a government-backed guarantee fund from which tax-compliant businesses can obtain credit guarantees over the next 2 years. VAT refund periods have also been decreased from 60 to 21 days in the country
Financing social assistance and food relief
30 March: government will provide a wage subsidy for citizen employees of businesses mostly affected by COVID-19, to enable them to retain employees.

On 24 April, it was announced that P 114 million (USD 9,34 million) was approved for food hampers for April and P 26 million (USD 2.1 million for temporary social workers. 100 water tanks were acquired to bring 5000 litres of water for those without water connections.

30 March: Social security contributions have been rescheduled to a later date for at least three months from the end of April 2020.

May 7: The government has established a 2 Billion Pula (USD 164 million or 1.1% of GDP) Covid relief fund aimed at subsidising wages (approximately 50% of all affected workers) over a period of 3 months. Employers receiving these subsidies must commit to not retrenching staff due to the Coronavirus.

Burkina Faso

Tests p/million
Confirmed cases
1175
Confirmed deaths
54
COVID-19: expected financing requirement
End-March: A response plan has been estimated at FCFA 394 billion (USD 650 million or 4.5% of GDP) This amount includes the overall health response plan, which amounts to approximately FCFA 178 billion (USD 293 million, or 2.1% of GDP).

10 July: The revised financial requirement induced by the COVID-19 epidemic amount to CFA 394.05 billion (USD 685 million or 4.85% of GDP).
Official COVID-19 links
https://www.facebook.com/finances.gov.bf/

https://www.sante.gov.bf/corona-virus

Government health expenditure p/capita (PPP USD) (2017)
46
Government health expenditure of government expenditure (2017)
11%
Out-of-pocket expenditure of total health expenditure (2017)
31%
External health expenditure of health expenditure (2017)
11%

Domestic and external financing
On 14 April, SDR 84.28 million was provided by the IMF through its Rapid Credit Facility.

23 April: the authorities are discussing exceptional financing from the members of the Alliance pour le Sahel, African Development Bank (USD 10 million), China (USD 1.2 million, in-kind grant) and France. The authorities also plan to mobilize additional financing from regional bodies, including the Western African Development Bank (BOAD). The authorities would seek to fill any remaining financing gap by tapping into regional bond market.

end-April: Burkina Faso is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. By 7 May, Burkina Faso had been offered USD 11.96 million worth of relief from the IMF (translating to 0.08% of GDP).

28 April: The European Union has announced additional support to Burkina Faso, Chad, Mali, Mauritania, and Niger, of 194 million Euros. This comes after the EU pledged to mobilise 449 million Euros earlier on in April for the same 5 countries.

30 April: The World Bank approved USD 21.15 (roughly 0.15% of GDP) million in financing, of which 50% grant and 50% credit from the International Development Association (IDA)* to help Burkina Faso respond to the COVID-19 pandemic.

29 May: An EU-IOM partnership seeks to mobilise just over 1 million Euros (less than 0.01% of GDP) to alleviate the impact of Covid-19 on migrants/refugees in Burkina Faso, Cameroon, Guinea Bissau, Nigeria, and Senegal.

9 June: The African Development Bank has approved grant funding of USD 20 million in response to the economic impact of Covid-19 for Mauritania, Mali, Burkina Faso, Niger and Chad.
Monetary and macrofinancial measures
On March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

On March 25: Further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

30 April: The regional central bank has also created "Covid-19 T-bills" as a means to raise funding during the pandemic.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
On April 27, Heads of states of the West-Africa Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU growth and stability Pact setting six convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member-countries cope with the fallout of the Covid-19 pandemic, allowing member countries to raise fiscal deficits temporarily.
Budget adjustments and healthcare allocations
On 2 April, the authorities announced plans to revise the 2020 budget to address the socio-economic impacts of the outbreak. Several measures are under consideration, including, among others: (i) lowering import duties and VAT for hygiene and healthcare goods and services critical to tackle COVID-19, and for tourism businesses; (ii) lowering other selected tax rates; (iii) delaying tax payments, and waiving late payment fines and penalties; (iv) granting exemptions to micro enterprises in the informal sector; (v) lowering the licensing fee for companies in the transportation and tourism sectors; (vi) suspending on-site tax inspection operations; (vii) Donating food and providing assistance to households and local small businesses; (viii) supporting the water and electricity bills, including through cancelation, of the most vulnerable social groups; and (ix) securing adequate stocks of consumer products and strengthening surveillance of prices. An emergency response plan for the health sector has been prepared.

15 May: It was announced that, towards the end of May, budget amendments and adjustments would be voted on given the impact of Covid-19 on the economy of Burkina Faso.

On 17 June, the Cabinet approved the draft revised 2020 budget which seeks to address the socio-economic impacts of COVID-19.

10 July: The Supplementary Finance Law (SFL) was revised downward for 2020 due to the impact of Coronavirus on the economy. The expected revenue has been revised down from CFA 2.2 trillion (USD 3.8 billion or 27% of GDP) to CFA 2.04 trillion (USD 3.55 billion or 25% of GDP). Internal financing has also been revised down from CFA 1.8 trillion to CFA 1.6 trillion (from USD 3.1 billion to USD 2.8 billion or 22% to 20% of GDP respectively). External financing requirements have increased from CFA 339 billion to CFA 367 billion (USD 591 million to USD 640 million or 4.2% to 4.5% of GDP respectively). This SFL prioritises health expenditure and measures to revive the economy, including tax relief measures.
Transparency, accountability and participation
21 May: The authorities have taken measures to transparently track resources and expenditures related to the pandemic, including by opening new accounts at the central bank specific for COVID-related accounts. Periodic report on these accounts will be produced.

Business support and tax measures
end-March: Many tax measures have been announced until June 2020, including tax exemption of small businesses, postponement of penalties for companies which have fallen foul of their tax obligations, reduction in licence payments and suspension of Management Learning Tax for transport companies and hotels.

end-April:An economic recovery fund has been established for affected companies in the amount of FCFA 100 billion (USD 164 million). Agricultural supplies and feed have been acquired for support of food and pastoral production, worth FCFA 30 billion (USD 49 million).

17 June: Measures under consideration or taken in the revision of the 2020 budget include: (i) lowering import duties and VAT for hygiene and healthcare goods and services critical to tackle COVID-19, and for tourism businesses; (ii) lowering other selected tax rates; (iii) delaying tax payments, and waiving late payment fines and penalties; (iv) suspending government fees charged on informal sector operators for rent, security and parking in urban markets; (v) lowering the licensing fee for companies in the transportation and tourism sectors; (vi) suspending on-site tax inspection operations.

7 July: The SFL introduced a reduction in VAT from 18% to 10% and a coverage of 70% of the wages of declared workers.
Financing social assistance and food relief

Burundi

Tests p/million
Confirmed cases
408
Confirmed deaths
1
COVID-19: expected financing requirement
On 24 March, the COVID-19 contingency plan was estimated at USD 14.5 million (0.5 % of GDP). By 1 April 2020, the required funding estimate increased to USD 26 million (approx 0.9% GDP). The cost is anticipated to rise rapidly with the number of cases.

03 April: Launch of the Operational Plan for the response against COVID-19 by the Ministry of Public Health that states that USED 27.8 million is required to respond to the crisis.
Official COVID-19 links
http://minisante.bi/

Government health expenditure p/capita (PPP USD) (2017)
15
Government health expenditure of government expenditure (2017)
8,50%
Out-of-pocket expenditure of total health expenditure (2017)
25%
External health expenditure of health expenditure (2017)
8,50%

Domestic and external financing
On 14 April, the World Bank approved a USD 5 million grant (0.2% of GDP) from the International Development Association to respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness in Burundi.

8 April: The UN Central Emergency Response Fund (CERF) allocated USD 75 million (approximately 2.5% of GDP) for a humanitarian response to the COVID-19 pandemic
.
Monetary and macrofinancial measures

PFM policies, practices and procedures
30 June: Support to strengthen procurement and supply chains has also made sure medicines and tests are available even in remote communities.
Budget adjustments and healthcare allocations
Transparency, accountability and participation
20 April: As part of their commitment to the IMF, Government committed to conduct COVID-19-specific audit and publish results.

Business support and tax measures
30 June: Measures have been taken to support specific hotels and industries. Taxes owed will be forgiven for hotels and industries that will not be able to pay. Subsidies are planned to help pay salaries in these sectors and avoid massive layoffs. Salaries for suspended services will continue to be paid with government support.
Financing social assistance and food relief
On 24 April, it was announced that P 114 million (USD 9,34 million) was approved for food hampers for April and P 26 million (USD 2.1 million for temporary social workers. 100 water tanks were acquired to bring 5000 litres of water for those without water connections.

Cabo Verde

Tests p/million
Confirmed cases
2858
Confirmed deaths
32
COVID-19: expected financing requirement
16 April: Health and social protection measures related to COVID-19 are estimated at 1.2% of GDP.
Official COVID-19 links
https://www.minsaude.gov.cv/

Government health expenditure p/capita (PPP USD) (2017)
197
Government health expenditure of government expenditure (2017)
9,89%
Out-of-pocket expenditure of total health expenditure (2017)
26%
External health expenditure of health expenditure (2017)
9,89%

Domestic and external financing
On 2 April, the World Bank approved a USD 5 million (0.25% of GDP) credit from the International Development Association.

On 24 April, the IMF approved a loan of USD 32.3 million (1.63% of GDP) to Cabo Verde, at an interest rate of 0%. This has been made available as direct budget support.

28 April: Cabo Verde's government has approved the use of 1.6 million Euros (roughly 0.1% of GDP) from the country's National Emergency Fund (FNE) in response to Covid-19.

25 May: The African Development Bank approved USD 33 million (1.65% of GDP) loan to tackle Covid-19 in Cape Verde

10 June: The EU has provided 5 million Euro (0.3% of GDP) in funding to assist Cabo Verde with the country's response to Covid-19.
Monetary and macrofinancial measures
The Bank of Cabo Verde (BCV) has approved a package of measures for stimulation and mitigation of the impact of coronavirus on the country’s economy, under the terms of which the banking sector will have to provide over 1,4 billion.

The benchmark interest rate by was reduced from 1.5% to 0.25% to set off a quicker and deeper response by the banks, without compromising or causing insecurity in key segments of financing of the credit institutions.

Another stimulus is the drop in the rate of the permanent loan liquidity facility from 3% to 0.5%, to signal to commercial banks that the central bank will provide funds in situations of a lack of bank liquidity.

A new long-term liquidity instrument has been introduced to finance banks over periods of up to three years and to set an attractive interest rate of 0.75%, for the extended credit line. The BCV also announced a credit line for banks at an interest rate of 0.75%, up to 45 billion

Finally, a reduction in Minimum Cash Availability from 13% to 10%, is another measure announced to “strongly” encourage banks to capitalise liquidity freed up for credit to the economy.

On 10 June, the Monetary Policy Committee decided to leave the interest rate unchanged in Cabo Verde.

PFM policies, practices and procedures
30 June: The proposed procurement approach prioritizes fast track emergency procurement for the required emergency goods, particularly for the prevention and response phases, this extends towards the following key measures; applying shorter bidding time, retroactive financing, no bid security, advance payments, direct payments on a case by case basis.
Budget adjustments and healthcare allocations
On 26 March, given estimates that revenue may halve due primarily to a significant reduction in tourism, the government announced, that it will put forward a revised budget and set new priorities for public investment to guarantee that families have employment and income.

In April, authorities announced they will reallocate budget of CVE 76 million (USD 748 000 or less than 0.01% of GDP) to an emergency plan. These resources will help cover additional expenses for personnel, training and medical equipment. Since the Plan was prepared before the local outbreak, it is being revised upward.

16 April: The authorities have taken measures to contain non-priority spending in view of the weakened revenue collection. They have cut spending for travel, training, recruitment, office supplies, and promotions in the civil service. They have also reduced capital spending for new domestically-financed projects that have not started yet. As a result, and taking into account health and social protection measures related to COVID-19 (1.2 % of GDP), expenditures are expected to increase by less than 1 % of GDP.

16 April: The authorities are planning to revise the 2020 budget to take into account new spending priorities and outlays related to COVID-19. The revised budget is expected to be introduced in parliament in the middle of the year.
Transparency, accountability and participation
28 May: The court of auditors in Cabo Verde have presented a strategic and operational plan to various judges, directors, and employees which, when finalized, updates various accounting, reporting and regulatory practices in the country (especially, in light of Covid-19).

Business support and tax measures
end-March: Micro, small, medium and large enterprises and individuals will have a moratorium that will postpone loan payments until 30 September home loans, and other loans, provided they prove they do not have an income or their income has been significantly affected by this pandemic.

end-March: The government has launched State-backed lines of credit of USD 7.6 million to boost liquidity of companies during the pandemic.

16 April: Support to the corporate sector covers loan guarantees amounting to some CVE 4 billion (about USD 40 million); temporary tax relief, including flexible payment schedule for value-added and other withholding taxes; accelerated settlement of government invoices, and cancellation of contributions to the pension fund for three months. To benefit from these relief measures, companies need to demonstrate a quarterly revenue loss of 30 percent.

7 May: VAT exemptions on the import and local production of medical supplies, PPEs, rubbing alcohol and disinfectant gel came into place.

20 May: Loan guarantees in Cabo Verde, which had originally been penned at CVE 4 billion (USD 4 million) are now expected to reach CVE 2 billion (USD 21 million), split across small, medium, and large enterprises.
Financing social assistance and food relief

Cameroon

Tests p/million
Confirmed cases
18042
Confirmed deaths
395
COVID-19: expected financing requirement
The authorities’ initial preparedness and response plan projected COVID-19-related health spending to reach CFAF 25.5 billion (USD 11 million or 0.01% of GDP) over the next three months.

May 7: This projection has increased to CFAF 58.3 billion (USD 100 million, or 0.44% of GDP) over the next three months.

21 May: Updated estimates of the Covid-19 Preparedness and Response Plan prepared by the Cameroonian government have increased to USD 600 million (or 1.55% of GDP) .
Official COVID-19 links
https://www.minsante.cm/site/?q=en/epid-mie-de-coronavirus-covid---19-

Government health expenditure p/capita (PPP USD) (2017)
23
Government health expenditure of government expenditure (2017)
2,95%
Out-of-pocket expenditure of total health expenditure (2017)
70%
External health expenditure of health expenditure (2017)
2,95%

Domestic and external financing
A Solidarity Fund has been established with seed money from Government of 1 billion CFA (USD 1.6 million).

4 May 2020: Cameroon has received USD 226 million (roughly 0.6% of GDP) from the Rapid Credit Facility of the IMF.

14 April: The European Union has released 11 million Euros aid to help Cameroon fight the coronavirus pandemic.

29 May: An EU-IOM partnership seeks to mobilise just over 1 million Euros to alleviate the impact of Covid-19 on migrants/refugees in Burkina Faso, Cameroon, Guinea Bissau, Nigeria, and Senegal.

29 June: The government has announced a USD 97 million (0.25% of GDP) economic stimulus package to respond to COVID -19.

24 June: Cameroon has requested an additional CFAF 60 billion (USD 102 million) from the World Bank.
Monetary and macrofinancial measures
On March 24, 2020, BEAC announced that it will suspend its main absorption operations on the monetary market for the coming week in order to better assess the impact of the COVID-19 pandemic on banking liquidity in CEMAC. However, banks with financing needs will be able to satisfy their requests at the marginal lending facility under the usual conditions. Further measures are expected to be taken following the Monetary Policy Committee meeting scheduled on March 27.

From 25 March, MTN Cameroon suspended payment of fees on money transfers between MTN Mobile Money accounts. This measure suspending the payment of fees concerns money transfers for amounts up to 20,000 FCFA. The measure will be limited to 3 transactions per day, per account, and will be valid for a period of 30 days. This may be reviewed based on the evolution of the health crisis.

On 24 June, CEMAC decided on the interest rate for tenders (3.25%), the marginal loan facility rate (5%), and the reserve rates (7% on compulsory reserves, and 4.5% on short-term requirements).

PFM policies, practices and procedures
30 April: To ensure continuity of its services amid the coronavirus health crisis, Cameroon’s single window for foreign trade (GUCE) deployed digital and telecommuting platforms.

30 April: Simplified procedures have been put in place for procurement.

30 April: Pending establishment of a special appropriations account to receive and manage all resources made available by funders and the State for Covid-19.

30 April: Pending establishment of sectoral units in all ministerial departments for monitoring and management of funds.

30 April: Medical supplies will soon be exempt from custom duties and taxes.

30 April: A supplementary budget is under development.


30 June: To boost efficiency and integrity in public spending, the Government of Cameroon created the 'globally- first of its kind' Ministry of Public Procurement (MINMAP).
Budget adjustments and healthcare allocations
30 April: Non-oil related revenues down by CFAF 106,9 billion (USD 175 million). Oil revenue down by CFAF 70,5 billion (USD 115 million) relative to the 2020 Finance Act.

4 June: President Biya signed the budget into law. The budget is 11% lower than initially stated in November 2019, due to a drop in revenues as a result of COVID-19.

23 June: Country assessment suggests that public spending should be reprioritised in favour of the health sector to enable it to meet international standards. However, it is currently difficult to mobilise more budgetary resources for the health sector since Cameroon does not have adequate fiscal space. The country is heavily reliant on external financing to combat the adverse effects of COVID-19.
Transparency, accountability and participation
20 April: As part of their commitment to the IMF, Government committted to publish COVID-19 public procurement contracts; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; and conduct COVID-19 specific audit and publish results.

Business support and tax measures
On 30 April, the president announced various tax exemptions and moratoria for businesses impacted by Covid-19 (especially in the tourism and catering industry)

30 June: A set of measures provide temporary tax accommodation to businesses directly affected by the crisis through tax moratoria and deferred payments, notably (i) exemptions from the tourist tax in the hotel and catering sectors for the rest of the 2020 financial year; (ii) exemption from the withholding tax for taxis and motorbikes and petty traders for the second quarter; (iii) the allocation of a special envelope of CFAF 25 billion (USD 43 million or 0.11 % of GDP) for the expedited clearance of VAT credits awaiting reimbursement, and (iv) the postponement of the deadline to pay land taxes for the 2020 financial year, to end-September. Other pandemic specific measures have also been taken, notable (i) full income tax deductibility of donations and gifts made by companies for the fight against Covid-19, (ii) three-month suspension of the payment of parking and demurrage charges in the Douala and Kribi ports for essential goods; and (iii) the establishment of a MINFI-MINEPAT consultation framework aimed at mitigating the crisis and promoting a rapid resumption of activity.
Financing social assistance and food relief
30 March: Social security contributions have been rescheduled to a later date for at least three months from the end of April 2020.

Central African Republic

Tests p/million
Confirmed cases
4641
Confirmed deaths
60
COVID-19: expected financing requirement
27 billion FCFA (USD 45 million or 1.9 % of GDP). This plan goes beyond an immediate response plan and contains measures to strengthen the ability of the healthcare system to deal with such pandemics in the future. It notably aims at: (i) providing medical care of confirmed cases; (ii) improving the monitoring of the country’s points of entry; and (iii) strengthening the capacities of the medical staff, laboratories and hospitals.
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
4,44
Government health expenditure of government expenditure (2017)
5,06%
Out-of-pocket expenditure of total health expenditure (2017)
43%
External health expenditure of health expenditure (2017)
5,06%

Domestic and external financing
USD 6.9 million has been provided by the World Bank's COVID-19 Preparedness and Response Project. This will finance activities related to preparedness, capacity building, and coordination, communication, community engagement, case management and response.

CAR is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. On April 13, this debt service relief was announced to be USD 4.05 million (0.02% of GDP).

20 April: The IMF has extended credit to CAR through its Rapid Financing Instrument of USD 38 million (0.2% of GDP).

23 April: The World Bank approved a grant of USD 7.5 million (roughly 0.04% of GDP) from the International Development Association (IDA) to help the Central African Republic respond to the threat posed by the Coronavirus outbreak and strengthen national systems for public health preparedness.

On 2 June the African Development Bank granted USD13.55 million to support the CEMAC region.
Monetary and macrofinancial measures
On March 27, 2020, BEAC announced a set of monetary easing measures including a decrease of the policy rate by 25 bps to 3.25 %, a decrease of the Marginal Lending Facility rate by 100 bps to 5 %, a suspension of absorption operations, an increase of liquidity provision from FCFA 240 to 500 billion (USD 395 to 823 million), and a widening of the range of private instruments accepted as collateral in monetary operations. The MPC also supported BEAC’s management’s intent to propose to reduce haircuts applicable to private instruments accepted as collateral for refinancing operations, and to postpone by one-year principal repayment of consolidated central bank’s credits to member states, but these possible additional measures are not effective yet. On March 25, 2020, the COBAC informed banks that they can use their capital conservation buffers of 2.5 % to absorb pandemic-related losses but requested banks to adopt a restrictive policy with regard to dividend distribution. (Completed, 2020-05-07)

On 24 June, CEMAC decided on the interest rate for tenders (3.25%), the marginal loan facility rate (5%), and the reserve rates (7% on compulsory reserves, and 4.5% on short-term requirements).

PFM policies, practices and procedures
25 June: A draft supplementary budget law is currently under discussion.
Budget adjustments and healthcare allocations
28 April: The authorities intend to allow the fiscal deficit to increase to accommodate the bulk of the fiscal impact of the pandemic. To limit the resulting widening of the deficit, the authorities will seek to reduce by up to CFAF 6 billion (about 0.5% of GDP) non-priority expenditures, such as missions and cultural activities that are already significantly reduced as part of the containment measures. They consider that the rest of the impact should be accommodated so as to allow their other considerable social, infrastructure, and security spending needs to be met.

Announced response plan for the health sector that was prepared in strong collaboration with the WHO, with an estimated cost of 27 billion of FCFA (1.9 % of GDP). This plan goes beyond an immediate response plan and contains measures to strengthen the ability of the healthcare system to deal with such pandemics in the future. It notably aims at: (i) providing medical care of confirmed cases; (ii) improving the monitoring of the country’s points of entry; and (iii) strengthening the capacities of the medical staff, laboratories and hospitals.
Transparency, accountability and participation
20 April: As part of their commitment to the IMF, Government committed to conduct COVID-19- specific audit and publish results.

Business support and tax measures
25 June: Specific fiscal measures to help the private sector, such as tax relief or suspension and easing of public procurement procedures, are being considered.
Financing social assistance and food relief

Chad

Tests p/million
Confirmed cases
944
Confirmed deaths
76
COVID-19: expected financing requirement
On 7 May, it was announced that financing for COVID-19 health-related expenditure will exceed the estimated CFAF 15 billion (USD 24 million or 0.3 % of non-oil GDP) and are expected to reach CFAF 31 billion (USD 51 million 0.6 % of non-oil GDP), which are being implemented under a national contingency plan.
Official COVID-19 links
https://sante-tchad.org/

Government health expenditure p/capita (PPP USD) (2017)
18
Government health expenditure of government expenditure (2017)
5,90%
Out-of-pocket expenditure of total health expenditure (2017)
61%
External health expenditure of health expenditure (2017)
5,90%

Domestic and external financing
On 14 April, SDR 84.12 million (USD 114 million, or 1% of GDP) was provided by the IMF through its Rapid Credit Facility.

Chad is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust.

29 April: The World Bank has agreed to a financing agreement with Chad of USD 16.95 million (equivalent to 0.15% of GDP).

28 April: The European Union has announced additional support to Burkina Faso, Chad, Mali, Mauritania, and Niger, of 194 million Euros. This comes after the EU pledged to mobilise 449 million Euros earlier on in April for the same 5 countries.

On 2 June the African Development Bank granted USD13.55 million to support the CEMAC region, and USD 330,000 to Chad.

9 June: The African Development Bank has approved grant funding of USD 20 million in response to the economic impact of Covid-19 for Mauritania, Mali, Burkina Faso, Niger and Chad.
Monetary and macrofinancial measures
On March 24, 2020, BEAC announced that it will suspend its main absorption operations on the monetary market for the coming week in order to better assess the impact of the COVID-19 pandemic on banking liquidity in CEMAC. However, banks with financing needs will be able to satisfy their requests at the marginal lending facility under the usual conditions. Further measures are expected to be taken following the Monetary Policy Committee meeting scheduled on March 27.

On March 27, 2020, BEAC announced a set of monetary easing measures including a decrease of the policy rate by 25 bps to 3.25 %, a decrease of the Marginal Lending Facility rate by 100 bps to 5 %, a suspension of absorption operations, an increase of liquidity provision from FCFA 240 to 500 billion (USD 395 to 823 million), and a widening of the range of private instruments accepted as collateral in monetary operations. The MPC also supported BEAC’s management’s intent to propose to reduce haircuts applicable to private instruments accepted as collateral for refinancing operations, and to postpone by one-year principal repayment of consolidated central bank’s credits to member states, but these possible additional measures are not effective yet. On March 25, 2020, the COBAC informed banks that they can use their capital conservation buffers of 2.5 % to absorb pandemic-related losses but requested banks to adopt a restrictive policy with regard to dividend distribution.

On 24 June, CEMAC decided on the interest rate for tenders (3.25%), the marginal loan facility rate (5%), and the reserve rates (7% on compulsory reserves, and 4.5% on short-term requirements).

PFM policies, practices and procedures
A committee with special powers to make resource allocation decisions has been created.
Budget adjustments and healthcare allocations
23 April: while the recent increase in the wage bill will be offset by cuts in non-health-related goods and services and non-priority investment, health-related spending is expected to increase by 0.3% of non-oil GDP. In addition, transfers and subsidies are expected to increase by 0.2% of non-oil GDP as a result of new measures to help households. Overall 3% budget surplus will now turn into a deficit of -1.5% of non-oil GDP.

15 April: The authorities are in the process of hiring additional health workers (1600+, 1000 health workers have already been hired).
Transparency, accountability and participation
6 August: The Goverment, under Decree N ° 0374 of March 24, 2020 created a special allocation account entitled "Special Fund for the fight against the Coronavirus" to keep separate accounts for COVID-19 expenses and provide separate reporting for the transparent management.

Business support and tax measures
15 April: Simplification of the import process for food and necessity items, including health equipment, and tax exemptions for these items.

7 May: For small and medium-sized enterprises, the authorities will reduce business license fees by 50% and the presumptive tax for 2020. Also, tax breaks such as carryforward losses and delays in tax payments will also be examined on a case-by-case basis. Additionally, domestic arrears of about CFAF 110 billion (approximately USD 183 million) owed to suppliers will be repaid.

11 May: The National Assembly adopted a new law that establishes a Youth Entrepreneurship Fund (0.6 percent of non-oil GDP).
Financing social assistance and food relief
7 May: The government has established a 2 Billion Pula (USD 164 million or 1.1% of GDP) Covid relief fund aimed at subsidising wages (approximately 50% of all affected workers) over a period of 3 months. Employers receiving these subsidies must commit to not retrenching staff due to the Coronavirus.

Comoros

Tests p/million
Confirmed cases
399
Confirmed deaths
7
COVID-19: expected financing requirement
7 May: The authorities have prepared a plan to minimise the risk of the pandemic, drawing on WHO recommendations. The cost of the plan is estimated at USD 2.2 million (or, 0.2% of GDP).
Official COVID-19 links
https://stopcoronavirus.km/

Government health expenditure p/capita (PPP USD) (2017)
17
Government health expenditure of government expenditure (2017)
3,63%
Out-of-pocket expenditure of total health expenditure (2017)
73%
External health expenditure of health expenditure (2017)
3,63%

Domestic and external financing
Comoros is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. This translated to debt relief of USD 1.33 million (0.01% of GDP).

22 April: the IMF has agreed to provide access to USD 4.05 million of rapid credit (0.03% of GDP), and a further USD 8.08 million (0.06% of GDP) of rapid financing instruments to Comoros.

March: UNDP has contributed a total of USD 10 million (roughly 0.09% of GDP) in Comoros' National effort to fight the COVID-19 pandemic. USD 567,000 of this contribution was reprioritised from existing projects, following a programme criticality exercise.
Monetary and macrofinancial measures
The central bank reduced reserve requirements to 10 %. The authorities also announced a restructuring of commercial loans and freezing of interest rates in some commercial loans.

PFM policies, practices and procedures
SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics

A committee with special powers to make resource allocation decisions has been created.
Budget adjustments and healthcare allocations
7 May: The authorities intend to raise spending on healthcare by 2% of GDP (reflected in higher current spending).
Transparency, accountability and participation
22 April: As part of their commitment to the IMF, Government committed to validate delivery of products and services; publish names of companies awarded contracts; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; and conduct COVID-19 specific audit and publish results and publish results.

Business support and tax measures
30 April: Import taxes on food, medicines, and items related to hygiene were reduced by 30%.

7 May: The authorities have delayed deadlines for tax filings from May to July.
Financing social assistance and food relief
30 April: The government announced a fund to support employees associated with airport operations.

7 May: The authorities intend to provide income support to SOE workers who have seen their hours reduced (at a cost of 0.1% of GDP, to be saved elsewhere in current spending, for example through civil service hiring restraint). To the extent possible within financing and implementation constraints, the authorities may also provide support to the poor through direct cash transfers (not factored into projections as this measure is not firmly planned). If impossible due to implementation constraints, the authorities may instead support poor communities through free water or electricity supplies.

4 June: In order to assist the state, The World Health Organisation (WHO) technical experts arrived in Comoros to assist the country's COVID-19 response. The expert team of epidemiologists, laboratory experts, pulmonologists, among others, will be supporting Comoran technicians in their efforts to fight the virus.

30 June: The government announced a fund to support employees associated with airport operations.

Cote d'Ivoire

Tests p/million
Confirmed cases
16715
Confirmed deaths
105
COVID-19: expected financing requirement
A Health Response Plan of 99 billion FCFA (USD 163 million, or 0.4% of GDP) has been adopted to break the chain of disease transmission, to guarantee the best care for the sick, isolate and track people who have been in contact with these patients and to continue efforts to keep populations safe. An Economic, Social and Humanitarian Support programme will also be implemented estimated at 1 700 billion FCFA (USD 2 billion), or about 5% of GDP.
Official COVID-19 links
http://www.gouv.ci/_grandossier.php?recordID=222

Government health expenditure p/capita (PPP USD) (2017)
42
Government health expenditure of government expenditure (2017)
4,88%
Out-of-pocket expenditure of total health expenditure (2017)
40%
External health expenditure of health expenditure (2017)
4,88%

Domestic and external financing
17 April: the IMF has also offered rapid credit and rapid financing instruments to Côte d'Ivoire of USD 295.4 million and USD 590.8 million (0.69 and 1.37% of GDP) respectively.

On 5 May, The World Bank and the Government of Côte d'Ivoire signed USD 35 million (less than 0.01% of GDP) credit agreement from the International Development Association (IDA)* to scale up efforts to combat the COVID-19 pandemic (Coronavirus) in the country, supplementing the USD 40 million provided under the Contingency Emergency Response Component (CERC) of the Strategic Purchasing and Alignment of Resources and Knowledge in Health Project, bringing the total financing allocated by the World Bank to Côte d'Ivoire’s COVID-19 emergency measures to USD 75 million.


14 June: 75 million Euro approved by the African Development Bank in COVID-19 emergency relief packages.
Monetary and macrofinancial measures
On March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

On March 25: Further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

7 May: In addition, the BCEAO launched a special 3-month refinancing window at a fixed rate of 2.5 % for limited amounts of 3-month "Covid-19 T-Bills" to be issued by each WAEMU sovereign to help meet funding needs related to the current pandemic.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
Exemption of import duties and taxes on health equipment, materials and other health inputs used in the fight against COVID-19.

On April 27, Heads of states of the West African Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member countries cope with the fallout of the Covid-19 pandemic, allowing member countries to raise fiscal deficits temporarily.
Budget adjustments and healthcare allocations
A special fund has been set up to finance the health response to which Government has contributed CFAF 25 billion.
Transparency, accountability and participation
3 April: The suspension of tax audits procedures for a three-month period

Business support and tax measures
30 April: Tax audits have been suspended for a period of three months. Penalties for delays in the execution of public contracts and orders with the State have been suspended.

On 31 March, the government announced it will provide relief to hard-hit sectors and firms, and support public entities in the transport and port sectors to ensure continuity in supply chains. In this regard, the authorities created 4 special funds to be spent over 2 years, including the National Solidarity Fund of 170 billion CFAF (0.5 % of GDP), the Support Fund for the informal sector of 100 billion CFAF (0.3 % of GDP), the Support Fund for the small and medium enterprises of 150 billion CFAF (0.4 % of GDP) and the Support Fund for large companies of 100 billion CFAF (0.3 % of GDP). They will also provide financial support to the agriculture sector of 300 billion CFAF (0.8 % of GDP). Support of CFAF 250 billion for cashew, cotton, rubber, oil palm, cocoa and coffee will be provided. Support of 50 billion FCFA for food, vegetable and fruit production will be provided.

30 April: Corporate income tax, levies and social charges will be postponed for three months for affected businesses. The transport license fee will be reduced by 25%. VAT credits will be reimbursed within two weeks.

6 May: The Council has adopted an ordinance that cancels the late penalties to be paid by holders of public contracts and other State orders, from 06 April to 06 July 2020, in order to help companies to safeguard the production tool and jobs.

9 April: Creation of two funds: a Support Fund for Large Enterprises (XOF 100 billion = USD 170 million) and a Support Fund for SMEs (XOF 150 billion = USD 254 million).

9 April: Creation of a specific fund to support informal sector enterprises affected by the crisis for an amount of XOF 100 billion (USD 170 million).

6 May: cancellation of the late penalties to be paid by holders of public contracts, from 06 April to 06 July 2020, in order to help companies to safeguard their production tool and jobs.
Financing social assistance and food relief
30 March: Payment deadlines for electricity and water bills have been postponed and payment facilities will be offered. Electricity and water bills for poorest households will be covered.

On 31 March, the government announced a package of economic measures to prop the income of the most vulnerable segments of the population through agricultural input support and expanded cash transfers.

10 June: A total of 72,498 beneficiaries, representing 40.9% of the target of 177,198 vulnerable households targeted by the transitional phase, benefited from FSS support

Democratic Republic of Congo (DRC)

Tests p/million
Confirmed cases
9454
Confirmed deaths
224
COVID-19: expected financing requirement
1 May: A preparedness and response national plan is estimated at USD 138 million (0.3% of GDP) aimed at strengthening the medical response that includes the creation of a COVID-19 response team, setting up specialized wards in public hospitals to cater for COVID-19 patients, procurement of
essential medical supplies, and training of medical personnel.

2 May: UNICEF estimates that USD 58 million (0.12% of GDP) is required for an immediate response within its areas of responsibility.

10 April: The Relief Web response plan to COVID-19 estimates that the total humanitarian response financial requirement is USD 431 million (0.9% of GDP).
Official COVID-19 links
https://www.stopcoronavirusrdc.info/

Government health expenditure p/capita (PPP USD) (2017)
4,23
Government health expenditure of government expenditure (2017)
3,73%
Out-of-pocket expenditure of total health expenditure (2017)
37%
External health expenditure of health expenditure (2017)
3,73%

Domestic and external financing
Under the World Bank's COVID-19 Strategic Preparedness and Response Project USD 47 million (or, 0.1% of GDP) has been provided to fund the emergency response to the COVID-19 epidemic in the Democratic Republic of Congo (DRC).

The US Government has provided USD 6 million (less than 0.01% of GDP) in humanitarian funding to the Democratic Republic of Congo to fight COVID-19 pandemic.

DRC is included in the list of 25 nations to which the International Monetary Fund (USD 20.32 million- roughly 0.04% of GDP- of debt has been relieved).

30 April: The IMF has approved an immediate disbursement to the DRC of USD 363.3 million (approximately 0.8% of GDP) as a means to support the country through the pandemic.

1 May: A special fund has been established to collect tax-deductible contributions from the private sector.

2 May: UNICEF have allocated USD 5 million (less than 0.01% of GDP) to meet critical needs while they work to secure USD 58 million (0.12% of GDP) to respond to the COVID-19 crisis.

On 2 June the African Development Bank granted USD 13.55 million to support the CEMAC region. USD 1.22 million (less than 0.01% of GDP) was granted to DRC.
Monetary and macrofinancial measures
The Central Bank of the Congo cut its base interest rate to 7.5% from 9.0% in order to cushion the economic impact of the coronavirus outbreak. It will also cut mandatory reserve requirements and provide liquidity to banks

15 April: Postponement of requirement for banks to have capital equivalent to USD 50 Million to 1 January 2022.

PFM policies, practices and procedures
Emergency clearance of inputs and pharmaceuticals products.

SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.
Budget adjustments and healthcare allocations
1 May: Given spending pressures from the free education initiative and delays in revenue reforms, the authorities intend to contain spending to limit the projected financing gap in 2020 to the impact of the COVID- 19 and avoid an increase in the stock of advances from the central bank. To that effect, current spending excluding wages would fall by about 2% of GDP relative to 2019, supported by the reallocation of expenditures and a 30% cut in the operating budget of ministries and public institutions. This will not affect the budget contribution to vaccination programs, which will continue to be supported by the government.

1 May: The authorities intend also to request transfers from unused revenue of extrabudgetary funds to the central government’s budget and to review the composition of expenditures to reallocate resources to priority sectors.
Transparency, accountability and participation
1 May: The authorities committed to produce a revised 2020 treasury plan reflecting the expected impact of the pandemic and the additional resources from development partners and to publish budget execution figures contained in the treasury plan on a monthly basis to enhance financial transparency. The authorities have committed to publish online all COVID-19 related procurement contracts that exceed a certain value (and disclose beneficial ownership information for the contracts exceeding USD 1 million), and will undertake and publish an internal monthly audit and a specific audit of COVID-19 related expenditures as part of the annual control of the Audit Court (LOI).

Business support and tax measures
30 March: Exemption for six months from all taxes, duties, levies and royalties on import and sale of pharmaceutical inputs and products as well as medical materials and equipment.

30 March: Suspension for three months of the application of penalties for delays in the customs clearance of basic goods and necessities; Suspension for three months for the payment of rental income tax due by companies; Support to the relaunching of economic activities by means of zero-interest financing from the Industrial Promotion Fun; Suspension for three months of certain tax, parafiscal and economic audits.

19 April: the following measures were approved by the Prime Minister:i) a three-month VAT exemption on pharmaceutical products and basic goods, ii) suspension of tax audits for companies, iii) a grace period for businesses on tax arrears, iv) full tax deductibility of any donations made to the COVID relief fund.


22 April: Reduction of corporate tax rate for 2020, from 30% to 28%. Reduction in the Flat-rate Global Tax, from 2020, from 7% to 5% of the annual turnover excluding taxes for operators selling products with free margin from 10% to 8% of the annual global margin excluding taxes for operators selling products at regulated prices and with controlled margins. These provisions are applicable to operators who keep accounts according to the Minimum Cash System (SMT). Tax exemption of 100% granted to donations made to fight against COVID-19.
Financing social assistance and food relief
On 19 April, the government of the DRC implemented the following protocols: i) provision of water and electricity for a period of two months to citizens, free of charge, and ii) prohibition to evict renters in case of no payment of financial obligations from March to June 2020.

Djibouti

Tests p/million
5421
Confirmed cases
5344
Confirmed deaths
59
COVID-19: expected financing requirement
21 May: Health and other priority expenditure of approximately USD 75 million (2.4% of GDP) will be necessary to address the health and economic and social consequences of COVID-19.
Official COVID-19 links
https://www.presidence.dj/

Government health expenditure p/capita (PPP USD) (2017)
56
Government health expenditure of government expenditure (2017)
3,10%
Out-of-pocket expenditure of total health expenditure (2017)
26%
External health expenditure of health expenditure (2017)
3,10%

Domestic and external financing
An Emergency and Solidarity Fund COVID-19 has been established to cover patient care and purchase of healthcare equipment. It will also serve as a national body of financial solidarity for the most vulnerable demographic components and those working in the private sector. 1 billion Djibouti Francs (USD 1.7 million, or less than 0.01% of GDP) has been injected by government and will be complemented by funds from international partners and reallocation of budgeted funds. It is also open to goodwill donation and will have its main account at the Central Bank and will have secondary accounts in various banking establishments..

2 April: The World bank approved credit to Djibouti of USD 5 million (0.01% of GDP) through the International Development Association.

8 May: The IMF has provided access to USD 43.4 million in from its Rapid Credit Facility to Djibouti. The IMF has also offered debt relief of USD 2.3 million (less than 0.01% of GDP) through its Catastrophe Containment and Relief Trust.

17 May: The European Union is providing 500 000 Euros (or less than 0.01% of GDP) to Djibouti, to combat the coronavirus pandemic.
Monetary and macrofinancial measures
7 May: Financial sector analysis has been stepped up as a means to assess the correct monetary policy intervention to be made by the Central Bank of Djibouti.

To address the urgent balance of payments needs, the authorities have requested support under the Rapid Credit Facility’s (RCF) exogenous shock window in the amount of 100 percent of quota (SDR 31.8 million), to be channelled to the budget to help finance pandemic-related health and other priority expenditure. They have also asked for debt relief under the Catastrophe Containment and Relief Trust (CCRT) for amounts falling due to the Fund in the 24-month period through April 13, 2022 (SDR 6.03 million), subject to resource availability. Staff supports these requests. The authorities are also seeking additional financing from other partners.

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
21 May: The government has scaled up healthcare and other emergency spending and to support families and firms affected by the outbreak (2.4% of GDP). Additional spending is primarily channeled through existing programs.0.9% of GDP in capital spending has been cut compared to the initial budget.
Transparency, accountability and participation
4 May: The authorities are committed to undertake an ex-post audit of COVID-19 expenditure and to subject them to enhanced public disclosure, including by publishing large procurement contracts (above USD 100 000) and the beneficial ownership of selected firms on the Ministry of Budget’s website and commission an independent ex-post audit of COVID-19-related spending in about a year’s time and publish the results

Business support and tax measures
15 April: The Emergency and Solidarity Fund will support the private sector.
Financing social assistance and food relief
15 April: The Emergency and Solidarity Fund will support vulnerable people.

Egypt

Tests p/million
244
Confirmed cases
95492
Confirmed deaths
5009
COVID-19: expected financing requirement
20 May: The government recently has announced 1 billion EGP (USD 63.5 million or 0.03% of GDP) in extra funding for its health services and applied various measures to increase the country’s capacity to absorb the sudden increase of critical patients that the outbreak might bring.
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
151
Government health expenditure of government expenditure (2017)
4,22%
Out-of-pocket expenditure of total health expenditure (2017)
62%
External health expenditure of health expenditure (2017)
4,22%

Domestic and external financing
The government has announced stimulus policies in the USD 6.4 billion package (EGP 100 billion, 2 % of GDP) to mitigate the economic impact of COVID-19.

On 22 March, the government announced it would allocate USD 1.27 billion (roughly 0.5% of GDP) to support the stock exchange.

On 20 March, the World Bank activated the Contingency Emergency Response Component (CERC) under the “Transforming Egypt’s Healthcare System Project”. USD 7.9 million (less than 0.01% of GDP) has been provided to fund emergency response activities related to the COVID-19 outbreak in Egypt.

May 11: The IMF has released USD 2.8 billion (1.2% of GDP) to Egypt through its Rapid Financing Instrument.

On May 25, the African Development Bank approved a USD 500 000 (less than 0.01% of GDP) emergency assistance grant to Egypt to provide food relief, and to contribute to restoring the livelihoods of vulnerable populations severely affected by COVID 19.

19 May: Large capital outflows have resulted in a drawdown of reserves to avoid excessive exchange rate volatility from the severe turbulence in financial markets.

11 May: The Executive Board of the International Monetary Fund (IMF) approved Egypt’s request for emergency financial assistance of SDR 2,037.1 million (USD 2.772 billion, 100% of quota) under the Rapid Financing Instrument (RFI) to meet the urgent balance of payments needs stemming from the outbreak of the COVID-19 pandemic. Purchase under the RFI entails exceptional access due to outstanding credit under the previous extended arrangement under the Extended Fund Facility.
Monetary and macrofinancial measures
The central bank has reduced the policy rate by 300 basis points (3%).

The preferential interest rate on loans to SMEs, industry, tourism and housing for low-income and middle-class families, has been reduced from 10 % to 8 %.

The limit for electronic payments via mobile phones has been raised to EGP 30 000/day (USD 1 900) and EGP 100 000/month (USD 6 334) for individuals, and to EGP 40 000/day (USD 2 540) and EGP 200 000/per week (USD 12668) for corporations.

A new debt relief initiative for individuals at risk of default has also been announced, that will waive marginal interest on debt under EGP 1 million (USD 64,200) if customers make a 50 % payment.

The regulations issued last year requiring banks to obtain detailed information of borrowers have been relaxed.

The central bank has also launched an EGP 20 billion (USD1,3 million) stock-purchase programme.

May 14: Capital outflows from the country have induced large exchange rate volatility. In order to curb this, the central bank of the country has drawn down foreign exchange reserves in order to prop up the exchange rate.

On 14 May, it was announced that all central bank policy rates would remain unchanged given the large change to its policy rates in March.

30 June: The Egyptian central bank published that M2 money supply growth accelerated to 17.24% year-on-year in May. The money supply stood at 4.45 trillion Egyptian pounds (USD 276.6 billion). Year-on-year money supply growth in April was 15.62%.

PFM policies, practices and procedures
30 June: The procurement fee of medical equipment and drugs used in treating Covid-19 has been canceled, and all ministries will set an expenditure rationing plan to offset the economic impact of the pandemic.
Budget adjustments and healthcare allocations
To support the healthcare sector, EGP 3.8 billion has been allocated, targeted at providing urgent and necessary medical supplies, and disbursing bonuses for medical staff working in quarantine hospitals and labs.

The government has announced stimulus policies in the USD 6.4 billion package (EGP 100 billion, 2% of GDP) to mitigate the economic impact of COVID-19.

On 22 March, the government announced it would allocate USD 1.27 billion to support the stock exchange.

On 7 May, the Egyptian Minister of Finance stated that the budget for the new fiscal year would allocate a further USD 6.35 million to raise wages and pensions in light of the economic impact of Covid-19.

27 June: Government employees will receive an annual increase of 7-12% costing a total of USD1.8 million.
Transparency, accountability and participation

Business support and tax measures
30 April: The moratorium on the tax law on agricultural land has been extended for 2 years.

30 April: The stamp duty on transactions and tax on dividends have been reduced.

30 April: Capital gains tax has been postponed until further notice.

30 April: Withholding tax imposed on dividend distributions made by EGX listed companies has been reduced from 10% to 5% in Egypt.

30 April: Tax breaks for industrial and tourism businesses have been enacted.

30 April: The cost of electricity and natural gas to industries has been reduced.

30 April: As part of the EGP 100 billion (USD6,3 million) stimulus, EGP 50 billion (USD 3,2 million) has been announced for the tourism sector.

30 April: Suspension of credit score blacklists for irregular clients and waiver of court cases for defaulted customers have been announced.

30 April: Individuals filing their incomes tax online will not be charged the subscription fee of the online tax filing portal.
Financing social assistance and food relief
15 April: Pensions have been increased by 14 %.

15 April: A targeted support initiative for irregular workers in most severely hit sectors has been announced, which will entail EGP 500 (USD 32) in monthly grants for 3 months.

7 May: To support medical professionals, including doctors working in university hospitals, a 75 % allowance over the wages has been announced.

7 May: A new debt relief initiative for individuals at risk of default has also been announced, that will waive marginal interest on debt under EGP 1 million ( USD 64,200) if customers make a 50 % payment.

7 May: The Ministry of Social Solidarity is planning to add 60,000 families to Takaful and Karama programs; also, increased payments are envisioned for women leaders in rural areas (EGP 900 per month (USD57) instead of EGP 350 (USD22)).

Equatorial Guinea

Tests p/million
609
Confirmed cases
4821
Confirmed deaths
83
COVID-19: expected financing requirement
30 April: The government has begun discussions on the National Covid-19 Emergency Response Plan. Estimates suggest that this plan is expected to cost XAF 5 billion (USD 8.5 million).
Official COVID-19 links
https://www.guineaecuatorialpress.com/buscador.php?cat=10005

Government health expenditure p/capita (PPP USD) (2017)
197
Government health expenditure of government expenditure (2017)
2,59%
Out-of-pocket expenditure of total health expenditure (2017)
73%
External health expenditure of health expenditure (2017)
2,59%

Domestic and external financing
Focus will be given to strengthening tax administration.

Parking lots at the Malabo and Bata airports are due to be nationalised.

Oil and Gas companies are required to pay CIT for 2019 by the end of April and the MMH and MFEP have been empowered to lead the negotiations.

THE NATIONAL CORONAVIRUS EMERGENCY FUND- 19 is created to raise Economic and Financial Funds to combat the spread of the Coronavirus Pandemic in the Republic of Equatorial Guinea. The government committed to contribute USD10 million to the special emergency fund. Accounts will be opened in national banks for the entry of voluntary contributions called the National Emergency Fund CORONAVIRUS- 19. Any other aid from external sources - country governments, friends, economic institutions and humanitarian organisations - will also be contributed to the Fund.

April: the UNDP has drafted a support package for Equatorial Guinea of USD 650 000.

28 May: UNICEF has begun the process of providing funding to Equatorial Guinea of USD 1.6 million
Monetary and macrofinancial measures
On March 24, 2020, BEAC announced that it will suspend its main absorption operations on the monetary market for the coming week in order to better assess the impact of the COVID-19 pandemic on banking liquidity in CEMAC. However, banks with financing needs will be able to satisfy their requests at the marginal lending facility under the usual conditions. Further measures are expected to be taken following the Monetary Policy Committee meeting scheduled on March 27.

On 24 June, CEMAC decided on the interest rate for tenders (3.25%), the marginal loan facility rate (5%), and the reserve rates (7% on compulsory reserves, and 4.5% on short-term requirements).

PFM policies, practices and procedures
Enabled a special unit for the promotion of Public-Private Partnership (PPP) contracts in basic public services such as: water, sanitation, electricity and communication.
Budget adjustments and healthcare allocations
On 31 March, Decree No 43/2020 was adopted to finance the General State Budget, mitigate the effects of COVID-19 on economic activity and vulnerable populations. It ensure the financing of the 2020/21 budget through bilateral and multilateral financing and rationalising of public expenditure and slowing down execution of non-priority expenditures. The decree ensures the financing of the Plan to Strengthen the National Public Health System. The 2020 Budget will be adjusted to prioritise the most affected ministerial departments, specially Health, Social Affairs, Civil Aviation and National Security.The Government will reprogram public investment expenditures to the second half of the fiscal year to avoid accumulation of arrears.

In March, the government deployed an initial health spending plan (0.07 % of GDP) focused mainly on prevention. In April, the government broadened emergency health spending (0.3 % of GDP), mainly to improve hospital preparedness to respond to local transmission.
Transparency, accountability and participation
On 21 May, an inter-ministerial council met and discussed the passing of the "Draft Law on the Prevention and Fight against Corruption". In it, various ministries proposed various regulatory and structural changes which would improve the transparency of, inter alia, financial reporting in the country, especially in light of Covid-19.

Business support and tax measures
The deadline for payment of the minimum income tax (MIT) for the year 2020 shall be extended until June.
The period for voluntary payment of the liquidation resulting from corporate income tax for the year 2019 is extended to July.
The MIT is also reduced from 3% to 1.5% for the year 2020, until 30 September 2020.

Decree No 43/2020 also offers non-fiscal incentives to SMEs in the non-oil sector, including reducing electricity, internet payments

Donations for the Partial Guarantee Fund for affected SMEs will be increased by XAF 1 billion (USD 1,64 million).

Companies involved in food distribution and all companies that hire new employees to reinforce their workforce
to comply with the standards established by the health authorities will receive a bonus of 100% of the
Social Security contributions until September 30th, 2020.

May 7: SMEs and households, in light of Covid-19, have faced reduced electricity bills
Financing social assistance and food relief
7 May: Decree No 43/2020 ensures financing of the Basic Social Guarantees Program. The Program will guarantee: (I) basic food and basic necessities for identified households, (II) a basic personal and household hygiene kit for identified groups; (III) social support consisting of counseling and psychological and health support. The social assistance scheme also includes measures to ensure continuity of education.

7 May: SMEs and households, in light of Covid-19, have faced reduced electricity bills.

21 May: Delegates from the South korean government donated clinical materials to the Ministry for Health and Social Welfare in Equatorial Guinea in order to aid its fight against Covid-19.

28 May: The government of Equatorial Guinea, with the help of UNICEF, has started distributing basic food and personal hygiene kits to vulnerable families, with the hopes of reaching 12 000 families.

On 25 June, the presidency distributed 4 million face masks to individuals across the country.

Eritrea

Tests p/million
Confirmed cases
285
Confirmed deaths
COVID-19: expected financing requirement
Official COVID-19 links
http://www.shabait.com/home

Government health expenditure p/capita (PPP USD) (2017)
16
Government health expenditure of government expenditure (2017)
2,92%
Out-of-pocket expenditure of total health expenditure (2017)
59%
External health expenditure of health expenditure (2017)
2,92%

Domestic and external financing
On 3 April, it was announced that members of the Central region Assembly would contribute one-month salary in support of the effort to curb the spread of Covid-19.

6 April: Eritrea has proactively requested USD 450 000 from the UN International Organisation for Migration to fund their COVID-19 Preparedness Plan.

Eritrean nationals in the Diaspora are extending financial support to contain the spread of coronavirus through their embassies. Contributions are published on http://www.shabait.com/home.


02 June 2020- Contribution by nationals to augment the National Fund to combat the COVID-19 pandemic continues.Cooperative associations and religious institutions contributed a total of Nakfa 63,808 .Similarly, small businesses in the Gash Barka, Northern Red Sea and Central regions contributed a total of Nakfa 193,543. 20 individuals also contributed a total of Nakfa 132,000.
Monetary and macrofinancial measures

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
Transparency, accountability and participation

Business support and tax measures
Various organisations and ministries have provided extra funding as a means to bolster economically vulnerable sectors.
Financing social assistance and food relief
6 April: Eritrea's current COVID-19 response involves coordinating with the Ministry of Health to support COVID-19 response through
the One UN approach;Procured and delivered PPE and screening supplies, including 100 safety goggles, 300 plastic surgical aprons (disposable), 100 packs of disposable shoe covers, 30 infrared thermometers (non-contact), 300 disposable caps and 100 personal protective gowns.

6 June:The government has banned layoffs and postponed payment of utility bills

Eswatini

Tests p/million
615
Confirmed cases
3236
Confirmed deaths
58
COVID-19: expected financing requirement
Official COVID-19 links
http://www.gov.sz/index.php/covid-19-corona-virus/

Government health expenditure p/capita (PPP USD) (2017)
460
Government health expenditure of government expenditure (2017)
15%
Out-of-pocket expenditure of total health expenditure (2017)
9,90%
External health expenditure of health expenditure (2017)
15%

Domestic and external financing
On 20 April, the World Bank Group approved USD 6 million (0.13% of GDP) in health emergency funding for a project that will help strengthen the country’s health system preparedness to respond to this and potential future emergencies.

13 April:UN Eswatini contributes USD 2.4 million (or 0.05% of GDP) to the governments COVID-19 relief efforts.

On 23 June: the World Bank Group approved a further USD 20 million (0.4% of GDP) for the "Health Systems Strengthening for Human Capital Development Project" aimed at improving the quality and coverage of the Ewantini health system. This project will complement the ongoing Eswatini COVID-19 Emergency Response Project approved in April.
Monetary and macrofinancial measures
The Central Bank of Eswatini cut its main lending rate by 100 basis points to 5.5%, citing global and domestic economic developments and the impact of coronavirus. The reduction was to ensure the equal pegging of the local currency with the South African rand after the South African Reserve Bank (SARB) cut its main lending rate by 100 basis points to 5.25% on March 19.

The Central Bank has reduced the liquidity requirement for the banks from 25% to 20% giving the banks more liquidity.

30 April: The Central Bank further reduced its discount rate by 100 basis points to 4.5% . The Central Bank of Eswatini has also: (i) ) reduced the reserve requirement to 5 % (from 6 %); (ii) reduced the liquidity requirement to 20 % (from 25) for commercial banks and to 18 % (from 22) for the development bank; (iii) encouraged greater use of electronic payments; and (iv) encouraged banks to consider loan restructuring and repayment holidays. Banks have announced that those individuals and companies that need short term financial support or relief can approach them and each application will be assessed on a risk-based approach.

28 May: he central bank of Eswatini has cut its main lending rate by 50 basis points to 4%.

25 June: The cumulative discount rate reduction sits at 250 basis points to 4%.

PFM policies, practices and procedures
SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

On 28 March, the Government set the price for hand sanitisers to an amount not exceeding E150 per litre (USD 8,13).

A committee with special powers to make resource allocation decisions has been created.
Budget adjustments and healthcare allocations
End-April: A supplementary budget was approved for additional public healthcare of E100 million (USD 5.5 million or 0.14 % of GDP).

Low priority recurrent spending will be redirected to the fight against the pandemic and a portion of the capital budget will be reallocated towards refurbishing hospitals and completing new hospitals.
Transparency, accountability and participation
25 June: The Eswatini Covid-19 Emergency Response Project is being prepared under the World Bank’s Environment and Social Framework (ESF). As per the Environmental and Social Standard (ESS) 10 Stakeholders Engagement and Information Disclosure, the implementing agencies should provide stakeholders with timely, relevant, understandable and accessible information, and consult with them in a culturally appropriate manner, which is free of manipulation, interference, coercion, discrimination and intimidation.

29 July: When requesting assistance from the IMF, the government indicated it will (i) use specific budget lines to facilitate the tracking and reporting of the release of funds of all crisis-mitigation spending, and (ii) publish on the National Disaster Management Agency (NDMA)’s website (www.ndma.org.sz) bi-monthly reports on funds released and expenditures incurred for health, social and other crisis-mitigation spending; (iii) regularly publish, on the Eswatini Public Procurement Regulatory Agency (ESPPRA)’s website (www.sppra.co.sz), signed public procurement contracts for crisis-mitigation spending, along with the names of awarded legal persons and their beneficiary owners, and ex-post validation of delivery; in addition, (iv) the Auditor General will undertake a financial and compliance audit of all crisis-mitigation spending and related procurement processes using independent external audit companies and will publish the results within six-months from the end of the 2020/21 fiscal year. Moreover, the Eswatini Public Procurement Regulatory Agency (ESPPRA) will undertake separate compliance and value-for money audits of all procurement activities related to COVID-19 spending, and publish the result on its website. Second, we have set up a transparent strategy to start clearing domestic arrears. All claims will be subject to the standard internal budget spending verification process, including validation of delivery, and the process will be subject to an ex-post review by the Auditor General as part of the budget audit certification process. Cabinet has approved the clearance strategy, which includes Cabinet’s approval of any detailed liquidation schedule before payments occur. Moreover, before clearing any arrears, we will publish on the government’s website (www.gov.sz) the liquidation strategy and schedule, and all pending claims, both verified and not, with information on claiming legal entities. Finally, the government continues to support the strengthening of the Anti-Corruption Commission. Despite the fiscal constraints, the funding to the agency has increased in the last two years to support the upgrading of its systems, building staff capacity, and accelerate the solution of pending cases.

29 July: As part of its commitment to the IMF, the Government will publish COVID-19 public procurement contracts; publish names of companies awarded contracts; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; and conduct COVID-19 specific audit and publish results.

Business support and tax measures
Extension of returns filing deadlines by 3 months before penalties kick-in.

Provisional tax payments: Taxpayers projecting losses will file loss provisional returns, hence no payment will be required. The due date has been postponed by 3 months, which means June declarations and payments are due in September and December declarations due in March 2021.

Taxpayers facing cash flow problems should provide evidence to be considered for payment arrangements. This only applies to current dues for Income Tax.

25 June: E90 million (USD 5.19 million) (0.13% of GDP) in tax refunds are offered to SME's that have complied with tax obligation or have retained and continued to pay employees during the lockdown period.
Financing social assistance and food relief
15 April: Food assistance will be provided to the most vulnerable, benefiting over 300,000 people.

25 June: Government has reduced fuel levies twice since lockdown. The scheduled price increases for water and electricity have been postponed.

Ethiopia

Tests p/million
40
Confirmed cases
22818
Confirmed deaths
407
COVID-19: expected financing requirement
On April 3, the Prime Minister’s office announced a COVID-19 Multi-Sectoral Preparedness and Response Plan requiring USD 1.64 billion in funding (about 1.6 % of GDP). The bulk of the outlays would be channeled toward emergency food distribution (0.6% of GDP) and health sector support (0.4% of GDP).
Official COVID-19 links
https://www.covid19.et/covid-19/

Government health expenditure p/capita (PPP USD) (2017)
19
Government health expenditure of government expenditure (2017)
6,02%
Out-of-pocket expenditure of total health expenditure (2017)
37%
External health expenditure of health expenditure (2017)
6,02%

Domestic and external financing
On 7 April, a 5-month State of Emergency was declared, giving the Federal Government more authority and ability to work with regional governments.

3 May: The Tigray region has announced plans to hold regional elections in defiance of a nationwide postponement of voting due to the COVID-19 pandemic.

On 17 June: Ethiopia received a Development Policy Grant from the World Bank of USD 125 million (or 0.2% of GDP). The World Bank provided an additional credit support of USD 125 million (or 0.2% of GDP) to supplement the mitigation of the economic impacts of COVID-19.

25 June: The IMF board approved USD 411 million (or 0.5% of GDP) in emergency assistance to Ethiopia to address the COVID-19 pandemic.
Monetary and macrofinancial measures
The Central Bank has provided 15 billion Birr (USD 454 million or 0.45 % of GDP) of additional liquidity to private banks to facilitate debt restructuring and prevent bankruptcies.

6 May: Increased mobile banking transfer limits at the Commercial Bank of Ethiopia to limit in-person transactions.

29 June: The central bank has also provided 33 billion birr (USD 957 million or 1.1% of GDP) of additional liquidity to the Commercial Bank of Ethiopia.

PFM policies, practices and procedures
In April, Ethiopia and the United Nations on Tuesday opened a humanitarian transport hub at Addis Ababa airport to move supplies and aid workers across Africa to fight coronavirus. The arrangement, which relies on cargo services provided by Ethiopian Airlines, could also partially offset revenue losses of USD 550 million between January and April.

6 May: Tax exemptions and preferential access to currency for importers of materials and equipment to be used in the prevention and containment of COVID-19.

12 June : The following expenditure measures have been used to finance COVID-19 related expenses: (i) Reallocations of budgetary appropriations requiring parliamentary approval; (ii) Reprioritising of expenditure between annual budgets; (iii) Authorising ministries to use existing savings of COVID-19 needs; and (iv) Channeling funds from contingency appropriations in the approved budget.

12 June: Other PFM rule and process adjustments extend toward the establishment of pooled procurements at a central level, to ensure rapid delivery of pandemic related goods and services.

12 June: Efforts to ensure greater liquidity and efficient cash management include: adjusting borrowing programmes to provide bridging finance, recalibrating cash buffer levels, emergency meetings of cash management committees, and the placement of additional measures to clear and prevent arrears.

In order to speed up disbursements of funds and spending the following measures have been taken by government; advance payments and cash advances are being made to service-delivery units, payment management processes have been streamlined, as well as disbursing additional petty cash to line ministries’ operational bank accounts.

A national steering committee has been formed in order to increase coordination between the finance ministry/budget office and the relevant ministries (health, agriculture, food) at subnational and central government levels. Business continuity has been ensured for the ministry of finance, given the current containment policies, by way of virtual networks.

Pooled procurement, public-private partnerships, delegation of purchasing to subnational government/ line ministries, and the emergency recruitment of healthcare workers act as the efficiency and cost-effective measures implemented into the current government financing and purchasing processes.
Budget adjustments and healthcare allocations
end-March: The authorities are loosening the fiscal stance temporarily to combat the pandemic and support the most vulnerable. The initial response included a health sector support package, including to fund medical supplies, facilities, and to cut trade taxes for medical goods, amounting to 5 billion birr (USD 154 million; 0.15% of GDP). The package is expected to be funded by reallocating budgetary funds away from uncommitted investment projects.

6 May: The allocation to health in the response plan increased to USD 430 million (0.4% of GDP) under a worst-case scenario of community spread with over 100,000 Covid-19 cases of infection in the country, primarily in urban areas.

29 June: Ethiopia's parliament approved a supplementary budget of 49.56 billion birr (USD 1.43 billion or 1.7% of GDP) for the financial year ending July. The supplementary budget will be funded with a mix of external and domestic loans.
Transparency, accountability and participation
6 May: The authorities are committed to full transparency on the spending for the emergency response and aim to conduct an ex-post audit of crisis-related spending once the crisis abates. As part of their commitment to the IMF, they will publish COVID-19 public procurement contracts; conduct COVID-19 specific audit, although results will not be published.

Business support and tax measures
On 30 April, the Council of Ministers approved debt forgiveness of all tax debt prior to 2014/2015, a tax amnesty on interest and penalties for tax debt pertaining to 2015/2016-2018/2019, and exemption from personal income tax withholding for 4 months for firms who keep paying employee salaries despite not being able to operate due to Covid-19.

28 May: A one-month grace period has been granted for the payment of Value-Added Tax (VAT) and Turnover Tax. The Ministry of Revenues will speed up VAT refunds to support taxpayers with cash flows challenges. Materials and equipment to be used in the prevention and containment of COVID-19 are exempt from import duties and other taxes. A tax waiver has been granted to
taxpayers in the manufacturing, construction and financial sector for any assessment due for the period between 2005 and 2015.

28 May : Interest and penalties on outstanding taxes due between 2016 and 2019 will be canceled outright and the underlying tax due can be paid in installments. Firms that pay their tax in a lump
sum will receive a 10% tax credit. There will be as much as 20% discount on taxable income for companies donating to the COVID-19 response. Landlords will be exempted from taxes payable for one tax year. Companies in loss positions during this period should be permitted to carry forward incurred losses for more than two financial years.

28 May: The minimum selling price set by the NBE for the horticulture sector for flower exports has been temporarily removed. Importers of goods for prevention of COVID-19 will be given priority access to foreign currencies. Development Bank of
Ethiopia will issue loans to microfinance institutions who can in turn lend to small and medium-sized enterprises. National Bank of Ethiopia will facilitate loans to microfinance institutions. Registered exporters who are unable to export can
supply their products locally.
Financing social assistance and food relief
30 April: Under the Response Plan, USD 635 million (0.6 % of GDP) will be allocated for emergency food distribution to 15 million individuals vulnerable to food insecurity; USD 282 million (0.3 % of GDP) for provision of emergency shelter and non-food items; USD 293 million (0.1 % of GDP) would be allocated to agricultural sector support, nutrition, the protection of vulnerable groups, additional education outlays, logistics, refugees support and site management support.

30 March: As part of the state of emergency measures taken to curb the spread of COVID-19, Ethiopia has prohibited companies from laying off workers and terminating employment.

6 May: Authorities have intensified enforcement action against businesses found to be illegally increasing consumer prices.

25 May: Amhara Regional State started providing flour, oil and sugar to "the poorest of the poor" in city of Bahir Dar and City of Adama (Oromia) started providing bread and water for those who need assistance during the stay at home order. Addis Ababa City Administration allocated 600 million ETB for purchasing stockpile of food/other essential goods and distribute same to 800 retail shops.

25 May: Beneficiaries of the Urban Productive Safety Net Project (UPSNP) will receive advance 3 months payment while on leave from their public works obligations. Ethiopia Rural PSNP will be scaled up. It is likely that benefits will include a cash/ food mix. The cash benefit value will increase by about 22% for scale-up.

25 May: National Expansion of free public transport: government buses to provide free transportation service to the public in order to reduce overcrowding in the public transport system.

Gabon

Tests p/million
Confirmed cases
7923
Confirmed deaths
51
COVID-19: expected financing requirement
16 April: Additional healthcare spending to protect people’s wellbeing, take care of the sick, slow the spread of the virus, and ensure the production of medical supplies requires CFAF 65 billion (USD 111 million or 0.7% of GDP).

On April 29, the authorities of Gabon created and disseminated a draft response plan to improve the economic circumstances of the country in light of Covid-19. This response plan is expected to cost CFAF 19.5 billion (USD 32.2 million, or 0.2% of GDP).
Official COVID-19 links
http://www.gouvernement.ga/accueil

Government health expenditure p/capita (PPP USD) (2017)
359
Government health expenditure of government expenditure (2017)
9,20%
Out-of-pocket expenditure of total health expenditure (2017)
23%
External health expenditure of health expenditure (2017)
9,20%

Domestic and external financing
On 9 April, SDR 108 million was provided by the IMF through its Rapid Credit Facility

19 May: The World Bank approved USD 9 million of financing from their International Bank for Reconstruction and Development.

20 April: The French Development Agency has reallocated 5 million Euros (USD 5.5 million).

26 June: The African Development Bank approved a loan of EUR 100 million (USD 112 million) to support Gabon in its Covid-19 relief efforts.
Monetary and macrofinancial measures
On March 24, 2020, BEAC announced that it will suspend its main absorption operations on the monetary market for the coming week in order to better assess the impact of the COVID-19 pandemic on banking liquidity in CEMAC. However, banks with financing needs will be able to satisfy their requests at the marginal lending facility under the usual conditions. Further measures are expected to be taken following the Monetary Policy Committee meeting scheduled on March 27.

On March 27, 2020, BEAC announced a set of monetary easing measures including a decrease of the policy rate by 25 bps to 3.25 %, a decrease of the Marginal Lending Facility rate by 100 bps to 5 %, a suspension of absorption operations, an increase of liquidity provision from FCFA 240 to 500 billion (USD 394 to 823 million), and a widening of the range of private instruments accepted as collateral in monetary operations. The MPC also supported BEAC’s management’s intent to propose to reduce haircuts applicable to private instruments accepted as collateral for refinancing operations, and to postpone by one-year principal repayment of consolidated central bank’s credits to member states, but these possible additional measures are not effective yet. On March 25, 2020, the COBAC informed banks that they can use their capital conservation buffers of 2.5 % to absorb pandemic-related losses but requested banks to adopt a restrictive policy with regard to dividend distribution.

On 24 June, CEMAC decided on the interest rate for tenders (3.25%), the marginal loan facility rate (5%), and the reserve rates (7% on compulsory reserves, and 4.5% on short-term requirements).

PFM policies, practices and procedures
The Minister of Finance has designated a public accountant in order to facilitate disbursements of health-related spending of the COVID-19 fund.
Budget adjustments and healthcare allocations
16 April: Authorities’ current projection envisages the control of non-priority expenditure and redirecting savings of FCFA 17 billion (USD 454 million or 0.2 % of GDP) to COVID-19 related spending. They are also curtailing domestically financed capital expenditure by about 40% (1% of GDP) of the initial budget appropriation.

16 April: Revenue losses are estimated at between CFAF 230 and 645 billion (USD 378 million and USD 1 billion respectively).

14 May: To cope with this situation, the President of the Republic instructed the Government to draw up an Amended Finance Law for the 2020 financial year and a plan for economic and social support, without resorting to borrowing. He instructed the Government to find an endogenous solution and secure compulsory expenditure (pensions, grants, social safety nets, etc.) and to ensure the sovereign functioning of the State. The Government has also guaranteed to maintain the supply chain of foodstuffs and other essential products and to contain the rise in prices.
Transparency, accountability and participation
16 April: The government committed to quarterly reporting of emergency funds, and an independent commission of an audit of the expenditure within 6 months of disbursement. The results of the audit and any related procurement contracts will be published. As part of their commitment to the IMF, they will also publish COVID-19 public procurement contracts; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; and publish COVID-19 expenditure reports.

Business support and tax measures
14 May: The government plans to allocate an additional FCFA 115.9 billion (USD 193.2 million or 1.3 % of GDP) as an economic response, through food stamps, electricity and water subsidies, direct support to SMEs and tax holidays.
Financing social assistance and food relief
On 10 April, the President of the Republic announced the establishment of a massive and exceptional Economic Safeguard and Social Aid Plan in the region of CFAF 250 billion (USD 424 million).
The government announced support for water and electricity bills for the most vulnerable demographics.
The suspension during lockdown of rent payments from people without income
Free land transport provided by public companies
The establishment of a technical unemployment benefit to cover between 50 to 70% of gross salary excluding bonuses to preserve jobs in the formal private sector and maintain workers' purchasing power.
The granting of food aid to people in distress and emergency situations.
Support of CFAF 967 million (USD 1.6 million) will be provided to citizens stranded abroad but unable to repatriate.

7 May: The government has created a fund with an initial allocation of FCFA 4 billion (approx. USD 2 million) for social assistance.

Gambia

Tests p/million
116
Confirmed cases
1235
Confirmed deaths
23
COVID-19: expected financing requirement
The authorities have prepared a USD 9 million (or, 0.55% of GDP) COVID-19 action plan.
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
14
Government health expenditure of government expenditure (2017)
2,76%
Out-of-pocket expenditure of total health expenditure (2017)
24%
External health expenditure of health expenditure (2017)
2,76%

Domestic and external financing
On 2 April, The World Bank Board approved a USD 10 million (0.6% of GDP) grant from the International Development Association (IDA). The COVID-19 Response and Preparedness Project will enhance case detection, tracing, and reporting, as well as provide equipment to isolation and treatment centers, and improve disease surveillance and diagnostic capacity. It will also focus on risk communications and community engagement for increased awareness and compliance with prevention and social distancing measures.

The Gambia is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. As of 7 May, The Gambia has received debt relief of USD 2.87 million (roughly 0.2% of GDP).

On 15 April, the Gambia has received an allotment from the IMF rapid financing instrument of USD 21.3 million (approximately 1.3% of GDP).

End-April: The European Commision provided The Gambian government with USD 10.09 million (0.6% of GDP) in COVID-19 support funding.

25 June: Donor agencies, including the UNDP, EFP, FAO, WHO, UNICEF, and UNFP, have provided cumulative financial assistance of roughly USD 1.5 million (roughly 0.1% of GDP) in order to strengthen social support programmes aimed at vulnerable groups impacted by COVID-19.
Monetary and macrofinancial measures
Domestic financial conditions have tightened with the average yield on the most used 364-days T-bills increasing to 11.4 % (400 bps higher than at end-2019). To ease liquidity conditions the central bank reduced its monetary policy rate by 50 basis points at end-February 2020 to 12 % and increased its standing deposit facility rate by the same margin to 3 %. It is also actively monitoring the situation and is in close communication with banks and ready to respond to the situation as inflationary pressures warrant. Further measures are under consideration to provide emergency liquidity support together with increased intensity and frequency of supervision to address any financial stability concerns.

On 28 May, It was announced in the Monetary Policy Committee meeting that the monetary policy rate was reduced by 2 percentage points to 10 percent resulting in a cumulative reduction of 2.5% since end-2019. The Bank also reduced the reserve requirement from 15 to 13%, thus, releasing close to D 700 million (USD 14 million or 0.7% of GDP) liquidity to the banks.

PFM policies, practices and procedures
11 June: The following expenditure measures have been used to finance COVID-19 related expenses: (i) Virements between line ministries’ approved budgets; (ii) Reprioritisation of expenditure between annual budgets; and (iii) Across-the-board cuts to recurrent expenditure.

11 June: As a way of ensuring rapid delivery of COVID-19 goods and services, the formal PFM rules and processes have been somewhat relaxed; a committee is set to review all procurement needs, obtained advice, and approval from the Procurement Regulation in a much more flexible way (i.e. through WhatsApp group chats formed by the committee).

11 June: Cash within the PFM framework has been consolidated in innovative ways to ensure greater liquidity and efficient cash management during the crisis, emergency meetings between cash management committees have been organized, and additional measures have been put in place to clear or prevent arrears.

11 June: The following measures have been adopted in order to speed up disbursement of funds and spending; (i) fast tracking expenditure authorization; 9ii) changes to spending controls from ex-ante to ex-post; and (iii) streamlining of payment management processes.

11 June: Two committees have been formed in order to increase coordination between finance ministries/ budget offices and other relevant line ministries at subnational and central government levels; one comprises of PSs and heads of relevant departments and the other is at a Cabinet level, chaired by the Vice President.

11 June: The Ministry of Finance, following containment policies, has ensured business continuity through the use of virtual networks and streamlined security checks.

11 June: As an efficiency and cost-effectiveness measure introduced into the healthcare financing and purchasing process pooled procurement has been utilised.

11 June: Tracking of COVID-19 emergency expenditure has differed from routine in that spending is done below the line account.
Budget adjustments and healthcare allocations
23 April: On the revenue side, the authorities are letting domestic petroleum price margins increase, which will reduce the drop in revenue by at least 0.1% of GDP. Expenditure reallocations within the budget envelope for goods and services, slowing the implementation of domestic public investment projects, reduced subsidies to the electricity provider and savings on travel expenses are expected to free about 1.0% of GDP for COVID-19 emergency, while anticipated delays in the implementation of foreign-financed public investment will be matched by lower disbursement of project loans and grants.

30 April: The Government has also reallocated 500 million Dalasi (USD 9.8 million or 0.6 % of GDP) from the current budget to the Ministry of Health and other relevant public entities to complement the support already received from partners to prevent and control the spread of the COVID-19 outbreak.

11 June: Initial funding of COVID 19 was established by reallocating budget lines from the travel and training of all MDAs to the Ministry of health for Gambia. An SAP is currently being pursued; this is subjected to IMF scrutiny before the engaging National Assembly.

30 June: Initial funding of COVID 19 was established by reallocating budget lines of travel and training of all MDAs to the Ministry of health.
Transparency, accountability and participation
15 April: When requesting financing from the IMF, the Government stated that they will ensure full transparency and proper budget procedure for use of emergency assistance. In the current circumstances, they will use the provisions under the Public Finance Act that allow for spending reallocations within the existing budget and create a temporary fund (within the treasury single account) through which the additional emergency spending could be channeled, subject to clearly established allocation criteria and reporting requirements. Once the situation normalises and the total fiscal cost of addressing COVID-19 can be assessed, they will proceed with the preparation of a comprehensive supplementary budget and a full audit of the emergency spending.

11 June: To ensure increased transparency and accountability with regards to COVID-19 financing and expenditure, internal audits have been more undertaken more frequently.

25 June: Last month, the Gambian Constitutional Review Commission presented a new draft constitution that includes a chapter on public finance. Concurrently, the central government, with assistance from IRI, and the Gambian civil society, has worked to make its recently released 2020 Citizens Budget more accessible. The constitution also includes several notable changes in some of the provisions of the budgetary process. This attempt to improve fiscal transparency comes at a time of increased scrutiny after receiving support from the international community.

Business support and tax measures
A broader set of measures including further support to enterprises and job protection in urban areas and industrial parks is under discussion with the donor community but has not been formalized. The expansion of the Urban Productive Safety Net Programme to 16 additional cities over the next two months is under active consideration, in collaboration with the World Bank, at an estimated cost of $134 million).

25 June: The government has issued support to farmers by distributing 2000 tons of fertilizer. The state is in the process of developing a relief package for the municipal councils and tourism sector. The Gambia Revenue Authority has extended, by two months (that expired at end-May), the filing of the 2019 annual tax return and the payment of final 2019 tax, as well as for the filing of the first quarter 2020 declaration and the payment of the first quarter installment. It has also revised down its annual revenue target by about 2.2% of GDP.
Financing social assistance and food relief
30 April: Emergency powers have been invoked by the President to freeze prices and ration essential food (rice, meat, fish and cooking oil) and non-food (soap, sanitizers and cement) commodities to prevent price gouging and hoarding.

7 May: 2000 tons of fertilizer were distributed to in need to subsistence farmers.

25 May: Over GMD 734 million (USD 14.7 million or 0.9% of GDP) are allocated to support 84% of households countrywide. Such support includes rice, oil and sugar.

21 May: A cumulative amount of USD 1.5 million from donor organisations including the UNDP, WFP, WHO, FAO, UNICEF, UNFPA and UNICEF, has been focused on financial assistance to strengthen social assistance for vulnerable groups affected by COVID-19.

25 June: The government has launched a student relief fund to Gambian students abroad. A GMD 800 million (USD 15.8 million or 1% of GDP) national food distribution programme has been launched and is expected to reach 84% of Gambian households.

Ghana

Tests p/million
1430
Confirmed cases
41003
Confirmed deaths
215
COVID-19: expected financing requirement
30 April: The initial COVID-19 Preparedness and Response Plan was set at USD 6.5 million, but this was revised to USD 100 million (from 0.01% to 0.2% of GDP). The authorities have also announced a USD 166 million Coronavirus Alleviation Program (CAP) to support the economy. Total financing requirement is USD 266 million (0.4% of GDP).
Official COVID-19 links
https://ghanahealthservice.org/covid19/

Government health expenditure p/capita (PPP USD) (2017)
73
Government health expenditure of government expenditure (2017)
6,54%
Out-of-pocket expenditure of total health expenditure (2017)
38%
External health expenditure of health expenditure (2017)
6,54%

Domestic and external financing
On 2 April, the World Bank agreed to provide USD 100 million (roughly 0.15% of GDP) to Ghana to assist the country in tackling the COVID-19 pandemic, available to the government and the people of Ghana as short, medium and long-term support. This financing package includes USD 35 million in emergency support to help the country provide improved response systems.

On 13 April, the IMF approved the disbursement of SDR 738 million (about USD 1 billion- approximately 1.5% of GDP) to be drawn under the Rapid Credit Facility. This will be direct budget support.

15 April: The President has established a COVID-19 Fund, to be managed by an independent board of trustees, chaired by a former Chief Justice to receive contributions and donations from the public to support the welfare of the needy and the vulnerable.

16 April: The government has agreed with investors to postpone interest payment on non-marketable domestic bonds held by public institutions to fund the financial sector clean-up for about GHc 1.2 billion (USD 204 million, or 0.3 percent of GDP).

7 May: In order to reduce financing needs, the government will draw USD 218 million (0.33% of GDP) from the stabilization fund.

15 May: In Ghana, the French National Research Institute for Sustainable Development (IRD), funded by AFD will fund a 2 year research-action on the pandemic, as part of the Ghanaian government's response.

16 May: Under the bank's emergency financing provisions, which permits it to increase the limit of purchases of government securities, BOG said it had purchased the government's COVID-19 relief bond with a face value of 5.5 billion cedi (USD 935 million, or 1.4% of GDP) at the monetary policy rate with a 10-year tenor and a 2-year moratorium of principal and interest.

26 June: The state will borrow up to GHc 10 billion (USD 1.7 billion or % of GDP) from the Bank of Ghana.
Monetary and macrofinancial measures
The Monetary Policy Committee (MPC) cut the policy rate cut by 150 basis points to 14.5% on March 18, and announced several measures to mitigate the impact of the pandemic shock, including lowering the primary reserve requirement from 10 to 8 %, lowering the capital conservation buffer from 3 to 1.5 %, revising provisioning and classification rules for specific loan categories, and steps to facilitate and lower the cost of mobile payments. The committee also signaled it would continue to monitor the economic impact of COVID-19 and hold emergency meetings if necessary.

Beginning on Friday March 20, 2020, all mobile money transfers of GH¢100 (USD 17,28) and below will be free of charge from service providers for the next 3 months.

On 15 May, the Monetary Policy Committee of the Bank of Ghana decided to keep the policy rate unchanged, given its decrease in March by 150 basis points.

25 June: The MPC provided relief measures for small depository institutions and a GHc 5.7 billion (USD 1 billion or roughly 1.4% of GDP) repo rate agreement with the United States Federal Reserve under the FIMA facility.

PFM policies, practices and procedures
As Covid-19 began to cause global disruptions in drug supply chains, subsequently threatening the supply of important medicine in Ghana, in mid-March mPharma launched a price control programme called ‘Mutti Keep My Price’. The initiative allows patients in need of chronic disease medication to continue paying the same price for their prescriptions for up to six months, regardless of market prices.

In March, the Government arranged Life and Sickness Insurance for healthcare professionals on the front line of the pandemic.

16 April: The Minister of Finance has proposed to Parliament to amend the law to grant access to the Heritage Fund of USD 591 million.

30 April: Considering the suspension of the fiscal responsibility rules in the Fiscal Responsibility Act, 2018 (Act 982) to enable Government to exceed the deficit target of 5% of GDP for 2020 by about 1.1% of rebased GDP.

30 April: The Ministry of Finance constituted a 5-member ‘MoF COVID-19 Response Team’ to ensure quick response to processing of COVID-19 request for payments within 48-72 hours upon receipt; review and validate request for funds to ensure that they meet the standard operating procedures and are eligible under World Bank Financing; provide feedback/reports to management on the drawdowns of emergency funds; and maintain a matrix of all COVID-19 initiatives for coordinating purposes.

30 April: Procurement laws provide for emergency procurement processes such as using sole-sourcing contracts.
Budget adjustments and healthcare allocations
15 April: The projected shortfall in Annual Budget Funding Amount (ABFA) is GHȼ3,526 million; while shortfalls in the Ghana Stabilisation Fund and the Ghana Heritage Fund are GHȼ1,058 million ( USD 182,794) and GHȼ453 million (USD 78 million), respectively. Projected shortfalls in transfers to GNPC is GHȼ642million (USD 111 million).

15 April: World Bank funding will cover the USD 100 million to support preparedness and response. Additional funds have been earmarked to address availability of test kits, pharmaceuticals, equipment, and bed capacity.

On 27 March, a Coronavirus Alleviation Programme (CAP) was established. The Ministry of Finance proposes providing 1 Billion Ghana Cedis (USD 173 million) to this. The Ministry is proposing to use the equivalent of USD 219 million from the Stabilization Fund.

On 30 March, the Minister of Finance proposed to Parliament:
To lower the cap on the Ghana Stabilisation Fund (GSF) from the current USD 300 million to USD 100 million to enable the excess amount in the GSF over the USD 100 million cap to be transferred into the Contingency Fund. The amount transferred into the Contingency Fund will be used to fund the Coronavirus Alleviation Programme (CAP).
To arrange with Bank of Ghana to defer interest payments on non-marketable instruments to 2022 and beyond.
Adjust expenditures on Goods & Services and Capex downwards by GHȼ1,248 million (USD 215,620).
Amend the PRMA to allow a withdrawal from the Ghana Heritage Fund to undertake urgent expenditures in relation to the Coronavirus pandemic. There is an estimated USD 591.1 million in the Ghana Heritage Fund.
Realignment of Statutory Funds towards expenditures that tend to mitigate the impact of the coronavirus pandemic (sanitation and health related expenditures) and limiting the award of new contracts whiles focusing on the payment of arrears.

30 April: Pension funds and investors have been encouraged to follow the lead of the Banks to support by accepting a 200 bps reduction on short term instruments including T-bills and 364-day paper. This should reduce government expenditure on interest expense by over GHS 300 million (USD 51 million) to help close the fiscal gap.

On 27 March, the Ministry of Health paid GHȼ300 million (USD 51 million) to NHIA on Friday 27th March 2020 to provide liquidity to Healthcare providers and the pharmaceutical industry.

7 May: The Ghanaian government plans to cut approximately GHc 1.1 billion (USD 190 million, or 0.3% of GDP) of spending on goods and services, transfers and capital investments, and reallocate that spending to Covid-19 response efforts.
Transparency, accountability and participation
16 April: Should the fiscal rule be suspended, the government will, in accordance with the Fiscal Responsibility Act, present to Parliament, within 30 days of suspending the fiscal rule, plans to restore public finances after the emergency.

30 April: Internal audit units are being used to scrutinise all payment requests at the MDA level.

5 May: CSOs have been asked to help provide information to citizens about support policies and how to monitor them.

Business support and tax measures
28 May: The Government will waive VAT on the donation of stock of
equipment and goods for fighting the COVID-19 pandemic.

25 June: Tax payers are permitted to deduct donations and contributions towards COVID-19 as an allowable expense for tax purposes. Companies and trusts have six (instead of four) months after the end of their financial year to file their income tax returns. Therefore, companies with year-ends up to end-December 2019 will have until end-June 2020 to file their returns. Companies with 2020 year-ends up to end-June 2020 should submit their returns by end- December 2020.
Financing social assistance and food relief
31 March: Government through the Ministries of Finance and Gender, Children and Social Protection, is embarking on a food distribution drive to ensure that needy people in areas under the restriction of movement directive by H. E. the President, live in comfort.

31 March: Ghana has extended health insurance to all health workers.

30 April: Food packages and hot meals for at least one million people, procurement of food from Ghana National Buffer Stock Company to support the exercise, Government will make payment of 3-months water bill for all Ghanaians and provide water through water tankers.

30 April: Waiver of personal income taxes for all health workers (241 million cedis), allowance for 50% basic salary for all frontline health workers for 4 months, transport of health workers in Accra, Tema , Kumasi and Kasoa and cover of water sanitation bills of GHS 200 million.

25 May: The government announced hotlines for the needy communities and households to reach them for their food items during the Covid-19 lockdown This has provided food for 400, 000 individuals and homes in the affected areas of restrictions. Total cost is 280 million cedis.

28 May: Taxpayers who pay their outstanding debts due to the GRA by 30 June 2020 will be granted a remission of penalties on the principal debts. Taxes on selected third-tier pension withdrawals will be waived. Incentives for frontline health workers: Exemption from the payment of tax on their employment emoluments for a three-month period commencing from April 2020. A daily allowance of GHS 150 (approx.USD 26) payable to those undertaking contact tracing. Insurance package, with an assured sum
of GHS350,000 (approx. USD60,345). To enable everyone to wash their hands frequently, Government will absorb the water bill of every resident individual for a three month period commencing April 2020.

25 June: A tax waiver is available to employees who have lost their permanent employment due to COVID-19 and to self-employed individuals who have lost capital due to the pandemic.

Guinea

Tests p/million
Confirmed cases
7930
Confirmed deaths
50
COVID-19: expected financing requirement
On 6 April, a COVID-19 economic response plan, estimated at USD 360 million (3.3% of GDP) was announced. The Plan aims at strengthening infrastructure in the health sector, protecting the most vulnerable, and supporting the private sector, notably small and medium enterprises.

16 April: The health preparedness and response plan was initially estimated at USD 13 million (0.1% of GDP).

6 May: The cost of the economic response plan is now expected to be around USD 290 million (2.7% of GDP), while a National Emergency Preparedness and Response Plan for Covid-19 is now estimated to cost USD 47 million. Total financing requirement is USD 337 million (3% of GDP).
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
13
Government health expenditure of government expenditure (2017)
4,11%
Out-of-pocket expenditure of total health expenditure (2017)
50%
External health expenditure of health expenditure (2017)
4,11%

Domestic and external financing
Guinea is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. As of 13 April, debt relief through the IMF came to USD 22.4 million.

16 April: IMF approved a USD 23.5 million (0.22% of GDP) rapid credit facility disbursement for Guinea.

19 June: The IMF approved the disbursement of USD 148 million (1.39% of GDP) to Guinea under the Rapid Credit Facility (RCF) to address urgent balance of payment and fiscal financing needs stemming from the COVID-19 pandemic.
Monetary and macrofinancial measures
On March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

On March 25: Further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

16 April:The policy rate and the reserve requirement ratio were both reduced by 100 basis points to 11 and 15 percent respectively.

PFM policies, practices and procedures
30 June: In contrast to the funding of the Ebola Virus Disease (Ebola) Response Plan, which had been the subject of a Special Earmarked Budget (SEB), the COVID-19 Health Crisis Economic Response Plan is managed through a “COVID-19 Response and Economic Stabilization Special Fund”. The resources of this fund are kept in an open account within the books of the Central Bank of the Republic of Guinea. The “Payeur Général du Trésor (Paymaster General) is the trustee of this account.

30 June: A joint order issued by the Ministry of Economy and Finance and the Ministry of Budget, No. …. of 26 May 2020, established a Committee to facilitate and monitor transactions carried out within the “COVID-19 Response and Economic Stabilization Special Fund” account.

30 June: Expenditure is carried out through special imprest accounts established by an order of the Minister of Finance at the request of the sectoral ministers involved. Expenses eligible for these accounts are broken down by economic category according to the current budget classification, as reflected in the imprest decrees pertaining to the supplemental appropriation to support the COVID-19 Economic Response Plan. The expenditures are carried out under transfer expenses. A coding system allows for the identification of line items related to the implementation of the response plan in the budgets of all departments involved.

30 June: Subsections have been created in the administrative classification and inserted into the information system database, with a homogeneous coding in the budgetary sections which are responsible for implementing the response plan expenditure. This allows the expenditure to be earmarked according to its economic category (wages, goods and services, transfers, investment) and geographical location. A functional classification allows for the reclassification of all expenses implemented under the COVID-19 Response Plan, regardless of the ministry or department which incurred the expenditure.
Budget adjustments and healthcare allocations
Transparency, accountability and participation
19 June: As part of their commitment to the IMF, they will publish COVID-19 public procurement contracts; publish names of companies awarded contracts; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; and conduct COVID-19 specific audit and publish results. The government has also committed to strengthen public financial management and anti-corruption framework under the ECF arrangement. The Government has established a dedicated account, as part of the Treasury Single Account at the central bank, to receive and disburse COVID-19 funds. Furthermore, we are creating a budgetary fund that will account for all earmarked external and domestic resources to address the pandemic. They will publish monthly reports on the execution of COVID-19 related spending and the inspectorate-general for finance will conduct timely ex-post control of high-risk expenditures, with the involvement of civil society. They will also publish online, on the websites of the Ministry of Economy and Finance and the Ministry of Budget, all awarded procurement contracts for COVID-19 related projects, including the names of entities and their beneficial owners. Furthermore, the Court of Accounts will conduct a full audit of COVID-19 spending (including ex-post validation of goods and services procured), which will be also published online by June 2021.

30 June: In terms of reporting, the computerised expenditure chain helps restore the position of transactions processed in the COVID-19 response account, at any time and in various formats. During the Ebola epidemic, it was not possible to create specific codes for the response plan expenditure, which made it difficult to refund them. With the COVID-19 response plan, the coding system allows the relevant expenditure to be isolated at any time, for refund and audit purposes.

Business support and tax measures
21 May: Financial institutions have been granted a 3 month postponement of the payment of supervision -related fees as well as contributions to the deposit insurance scheme. Insurance companies are to postpone the payment of premiums falling due during the epidemic and to suspend policies at the request of customers. Identification requirements for e-money accounts have been eased and companies are encouraged to reduce e-money transfer fees. Dividend payments have been suspended while financial institutions are required to limit technical assistance fees paid to their parent companies to the strict minimum.
Financing social assistance and food relief
30 April: Among the measures announced to tackle the coronavirus, the state will pay the electricity bills of the poorest for three months, freeze the price of medicines and basic necessities during the pandemic and introduce free public transport for three months.

25 May: New cash transfers programme of 250 000 GNF (USD 25) per month for 240,000 households (1.6 million people) in various parts of Guinea including Conakry. The programme take place from June to December 2020.

25 May: The new Social Protection agency will distribute sanitation kits to 130,900 households from April 2020.

Guinea-Bissau

Tests p/million
762
Confirmed cases
2052
Confirmed deaths
29
COVID-19: expected financing requirement
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
43
Government health expenditure of government expenditure (2017)
13%
Out-of-pocket expenditure of total health expenditure (2017)
35%
External health expenditure of health expenditure (2017)
13%

Domestic and external financing
Guinea-Bissau is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. As of 13 April 2020, this debt relief amounted to USD 1.48 million.


1 May: UNICEF has begun the process of providing funding to Guinea-Bissau of USD 2.5 million to assist the country in order to curb the impact of Covid-19.

29 May: An EU-IOM partnership seeks to mobilise just over 1 million Euros to alleviate the impact of Covid-19 on migrants/refugees in Burkina Faso, Cameroon, Guinea Bissau, Nigeria, and Senegal.
Monetary and macrofinancial measures
On March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

March 25: Further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

As of 30 April, the regional central bank has also created "Covid-19 T-bills" as a means to raise funding during the pandemic. (removed bracketed text).

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
On April 27, Heads of states of the West African Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU growth and stability pact setting six convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member-countries cope with the fallout of the Covid-19 pandemic, allowing member countries to raise fiscal deficits temporarily. (Completed, 2020-05-07)
Budget adjustments and healthcare allocations
Emergency measures of about USD 0.5 million have been approved. These are focused on upgrading the main national hospital, and the provision of medicines, food, and medical equipment to the country’s hospitals. The authorities already made available FCFA 100 million (0.01% of GDP, or USD 1.7 million) and will provide monthly FCFA 122 million (USD 2.1 million, or 0.14% of GDP) to the main hospital.

17 June: Healthcare interventions in Guinea-Bissau have been allocated a total of USD 1 million (0.3% of GDP) as opposed to the original amount of USD 0.5 million.
Transparency, accountability and participation

Business support and tax measures
Financing social assistance and food relief
As of 30 April, CFAF 525 million ($0.9 million) has been allocated by the state to purchase essential food items for those in relatively weak economic standing. 20,000 bags of rice and 10,000 bags of sugar were distributed across the country.

1 May: UNICEF is expected to donate as many as 20 000 masks to at-risk groups in the country, whilst also delivering other medical and PPE supplies.

18 May: The Chinese state has provided Guinea-Bissau with 500 infrared thermometers, 20,000 sets of disposable gloves, 10,000 surgical masks, and a further 4,000 different masks/coveralls.

22 May: UNICEF has begun the process of designing and implementing a cash transfer programme which will target 1 200 of the most vulnerable families in Guinea Bissau.

Kenya

Tests p/million
151
Confirmed cases
26436
Confirmed deaths
420
COVID-19: expected financing requirement
30 April: COVID-19 spending interventions of KES 40 billion (374 million or 0.4% of GDP) in 2019/20 have been included in a supplementary budget.
Official COVID-19 links
http://www.health.go.ke/

Government health expenditure p/capita (PPP USD) (2017)
52
Government health expenditure of government expenditure (2017)
6,06%
Out-of-pocket expenditure of total health expenditure (2017)
28%
External health expenditure of health expenditure (2017)
6,06%

Domestic and external financing
A Covid-19 Emergency Response Fund has been formed accompanied by regulatory guidelines.

Kenya's executive has agreed to pay cuts as the number of confirmed cases of COVID-19 continue to rise, President Uhuru Kenyatta announced on Wednesday. Kenyatta and his deputy will take an 80% pay cut, while their ministers and their assistants will take pay cuts ranging from 20% to 30%.

The Central Bank released Shs 7.4 billion (USD 69 million or 0.08% of GDP) to the government to support the fight against COVID-19. The bank explained that the money was an “exceptional and unbudgeted windfall” that came from the value of notes that were rendered worthless after the Shs 1000 (USD 9.4) note was demonetized last year.

On 2 April, the World Bank Group Board of Directors approved USD 50 million (0.06% of GDP) in immediate funding to support Kenya’s response to the COVID-19 pandemic under a new operation - the Kenya COVID -19 Emergency Response Project.

The Office of the Director of Public Prosecutions donated USD 19 million (0.02% of GDP) to the country’s coronavirus emergency fund from money that his office had seized from corrupt dealings in the past two years.

On 6 May 2020, The IMF approved USD 739 million (0.84% of GDP) under the Rapid Credit Facility (RCF) to meet Kenya’s urgent balance of payments need stemming from the outbreak of the COVID-19 pandemic.

20 May: The World Bank has approved USD 1 billion (1.14% of GDP) in budgetary support for Kenya as a means to close its fiscal financing gap, and also as a means to respond to the economic impact of Covid-19 on the country.

On 22 May, the African Development Bank approved an 188 million Euro (approximately 0.2% of GDP) loan to support the Government of Kenya’s efforts to respond to the COVID-19 pandemic and mitigate the related economic, health and social impacts.
Monetary and macrofinancial measures
On 24 March, the Central Bank (1) lowered its policy rate by 100 bps to 7.25 %; (2) lowered banks’ cash reserve ratio by 100 bps to 4.25 %; (3) increased the maximum tenor of repurchase agreements from 28 to 91 days; and (4) announced flexibility to banks regarding loan classification and provisioning for loans that were performing on March 2, 2020, but were restructured due to the pandemic. The Central Bank has also encouraged banks to extend flexibility to borrowers’ loan terms based on pandemic-related circumstances and encouraged the waiving or reducing of charges on mobile money transactions to disincentivize the use of cash.

On April 15, the central bank suspended the listing of negative credit information for borrowers whose loans became non-performing after April 1 for six months. A new minimum threshold of USD 10 was set for negative credit information submitted to credit reference bureaus.

On April 29, the central bank lowered its policy rate by 25 bps to 7.0%.

On 27 May, the Monetary Policy Committee maintained the policy rate at 7% and noted that the policy measures taken in the previous month were having their intended effect.

PFM policies, practices and procedures
30 April: A Covid-19 Emergency Response Fund has been formed accompanied by regulatory guidelines.
Budget adjustments and healthcare allocations
The government has earmarked funds for additional health expenditure, including enhanced surveillance, laboratory services, isolation units, equipment, supplies, and communication.

On 25 March, the government announced the disbursement of KES 1 billion (USD 9 million) for the recruitment of additional medical personnel.

Given lower revenues due to decreased economic activity and the need to accommodate emergency spending, the government is currently reassessing the budget deficit target for FY 2019/20.

29 April: To offset revenue losses, and re-direct funds towards coronavirus mitigation, the Treasury tabled a supplementary budget. A new budget line for Covid-19 response was allocated Ksh3.9 billion. In total, the Treasury says it allocated Ksh40.3 billion (0.4% of GDP) for pandemic-related expenditures. Includes KES 5 billion in the health sector, as well as reallocation of previously planned expenditure, most of which will be covered by a USD 60 million support package from the World Bank that also covers 2020/21; KES 13 billion to expedite clearance of unpaid bills with suppliers; KES 10 billion to fasttrack VAT refunds; and KES 10 billion for cash transfers to the elderly, disabled, and low-income households.

26 June: The government put forward an additional KES 53.7 million (USD 504,780 or 0.5% of GDP) economic stimulus package to be included in its' FY 2020/2021 budget. This includes a new youth employment scheme, the provision of credit guarantees, and several other initiatives. The Treasury has reallocated KES2 billion (USD 18 million or 0.02% of GDP) from the budget to procure Covid-19 testing kits and masks, among others. The purchase of these items was allocated funds in the budget and was to run until June 30. The budget also contains KES 1.5 billion (USD 14 million or 0.016% of GDP) allocated to the Labour Ministry for stipends to the elderly, and a further KES 1.0 billion (USD 9.4 million or 0.11% of GDP) for hiring additional health personnel
Transparency, accountability and participation
29 April: Kenya’s Parliamentary Budget Office has warned that a significant proportion of reallocations may not be pandemic-related and were made contrary to PFM regulation.

31 March: A public notice was issued requesting citizen feedback on the COVID-19 Emergency Response Fund regulations. However only one day was provided for this feedback.

11 May: The Community Health Services Bill came about after public participation.

6 May: To ensure that COVID-19 related resources are used for their intended purpose, the authorities undertake to conduct independent post-crisis auditing of COVID-19 related expenditures and publish the results.

26 June: Ordinary Kenyans will for the first time be able to review details of public procurement contracts via the public procurement information portal (www.tenders.go.ke). Further, a new Debt and Borrowing Policy sets Kenya up to manage its public debt more strategically and transparently, including by specifying clear oversight and audit responsibilities over the use of borrowed funds.

Business support and tax measures
30 April: Tax cuts have been provided to small businesses and corporations. There has been a reduction in the turnover tax rate from 3% to 1% for micro-, small- and medium-sized enterprises. A reduction in corporate and personal income tax rates from 30% to 25%. The government has also earmarked funds for expediting payments of existing obligations to maintain cash flow for businesses during the crisis.

30 April: Reduction of the standard VAT rate from 16 to 14% and elimination of a long list of exemptions in the VAT and corporate income tax. The annual cost of these tax relief measures is estimated at 1.7% of GDP.

17 May: The government of Kenya is considering the reversal of income tax, value-added tax and sales levy cuts announced by President Uhuru Kenyatta in the wake of the COVID-19 pandemic due to IMF advice. The IMF says the cuts will cost the Kenya Revenue Authority (KRA) and compromise the state’s ability to deal with emergencies and spending on development projects like roads, power plants and water infrastructure.

26 June: The base corporate income tax rate is reduced from 30% to 25%. The turnover tax rate for small businesses is reduced from 3% to 1%.
Financing social assistance and food relief
15 April: Tax relief for low income earners (earning up to USD 240).
A reduction in the VAT rate from 16% to 14% with effect from 1 April 2020.
Suspension of the country’s three credit reference bureaus, which among them have about 2.5 million Kenyans negatively listed and unable to obtain credit from banks or fintech apps, beginning 1 April.
The National Treasury appropriated an additional Ksh 10 billion (USD100 million) for supporting the elderly, orphans and other vulnerable members through Kenya’s relatively well-developed cash transfer system.
Fee waivers on person-person mobile money transactions on M-PESA were approved.

11 May: Together with the EU, Sweden, Finland and Denmark are providing Ksh 211 million (USD 2 million) in order to improve access to water and sanitation to 119 000 Kenyan residents most impacted by Covid-19.

26 June: Full income tax relief is provided for persons earning below KES 23 962 (USD 225) per month, and a reduction of the top PAYE rate from 30% to 25% has been passed.

Lesotho

Tests p/million
Confirmed cases
742
Confirmed deaths
23
COVID-19: expected financing requirement
15 April: The World Bank estimates that Lesotho will require 11% of GDP to combat the COVID-19 pandemic.

12 May: The government has budgeted M698 million (USD 40 million- 2.5% of GDP) for the Covid-19 response.
Official COVID-19 links
https://www.gov.ls/about-coronavirus-covid-19/

Government health expenditure p/capita (PPP USD) (2017)
155
Government health expenditure of government expenditure (2017)
11%
Out-of-pocket expenditure of total health expenditure (2017)
19%
External health expenditure of health expenditure (2017)
11%

Domestic and external financing
14 April: Although free of COVID-19 , Lesotho has has formally initiated talks with the World Bank and the European Union (EU) for assistance.

On 17 April, Econet Telecom Lesotho with the Government of Lesotho through the National Command Centre launched channels to solicit donations towards the COVID-19 pandemic.

On 23 April, it was announced that the Governor of the Central Bank will be approaching the International Monetary Fund (IMF) on possible balance of payments support under the provisions for COVID-19.

On 14 May, the World Bank approved a M130 million (USD 7.5 million or 0.27% GDP) credit from the International Development Association (IDA) to support Lesotho’s efforts to prevent, detect and respond to the global COVID-19 pandemic

On 17 June, Lesotho's application for a COVID-19 accelerating funding request has been approved to the amount of USD 3.47 million (roughly 0.13% of GDP) from the Global Partnership for Education (GPE).

26 June: The African Development Bank has approved USD 8.9 million in grant funding for 6 SADC countries (Lesotho, Malawi, Madagascar, Mozambique, Zambia, and Zimbabwe).
Monetary and macrofinancial measures
On 23 March, following an extraordinary meeting of the Monetary Policy Committee, the Central Bank of Lesotho (CBL) announced (i) an increase of the NIR target floor from USD 630 million to USD 660 million, and (ii) a reduction of the CBL policy rate by 100 basis points from 6.25 to 5.25%.

On 13 April, banks and insurance companies were asked to suspend loan repayments for three months, and insurance companies asked to suspend instalment payments. The implementation of Basel II.5 was postponed to free up funds that would otherwise go towards additional capital buffers.

On 14 April, the Central Bank of Lesotho reduced the policy rate by a further 100 basis points from 5.25% to 4.25%.

On 22 May, the MPC met and decided to: i. Reduce the NIR target floor from USD 660 million to USD 530 million. The NIR target remains consistent with the maintenance of the exchange rate peg between the loti and the South African rand. ii. Reduce the CBL rate from 4.25 percent per annum to 3.75 percent per annum.

26 June: To encourage the use of non-cash payments, the CBL has negotiated with mobile network operators the removal of fees for transactions below M50 (USD 3) and temporarily raised mobile money transaction limits.

PFM policies, practices and procedures
SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

At a Cabinet meeting on 6 May it was decided that all COVID-19 support be placed under the direct control of Disaster Management Authority (DMA). It was also proposed that the DMA should be established into an independent entity not a department for proper governance and accountability since it already operates with a board.
Budget adjustments and healthcare allocations
On 13 April, the Prime Minister’s speech unveiled updated fiscal measures of M1.2 billion (USD 67 million) to support food security and to assist those most affected by the crisis. M500 million (USD 28 million) of that goes to a Contributory Fund that the government has started.

At a Cabinet meeting on 6 May, it was recommended that consideration be given to reallocating the construction of sports facilities for the Commonwealth Games to financing of COVID-19 interventions. It was also proposed that all the reductions proposed by the Committee be directed towards purchasing and/or improving the government fleet of ambulances to the required standard for ferrying Coronavirus patients.

On 23 April, the Prime Minister noted that the Disaster Relief Fund which has a budget of M698 million (USD 39 million) will be used to fight COVID-19.

12 May:The government will soon request parliament to redirect M659 million (USD 40 million) from the 2020/2021 capital budget towards the country's Covid-19 response programmes. The M4, 7 billion (USD 271 million) capital budget would be reduced by M659 million if parliament approves the government's request.

26 June: Two fiscal packages are being implemented; (i) A M700 million (USD 40 million or 2% of GDP) fund set aside for the National Covid-19 Response Integrated Plan 2020; more than half of which is being used for the purchase of critical goods and services and health care personnel, the remainder covering border management, logistics, and security; (ii) A M1.2 to M1.5 billion (USD 70 million to 87 million, or between 2.5 and 3.2% of GDP) fund for emergency assistance and expanding social protection.
Transparency, accountability and participation
29 July: As part of their commitment to the IMF, the Government will publish COVID-19 public procurement contracts; publish names of companies awarded contracts; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; and conduct COVID-19 specific audit and publish results.

Business support and tax measures
As part of the fiscal measures announced on 13 April, M200 million (USD 11 million) will be spent on agriculture for food production. The government will also pay business rentals in May and defer certain taxes until September. The country is also improving credit facilities for SMEs, guaranteeing 75% of principal rather than 50%.

On 23 April, the Prime Minister announced a M500 million (USD 28 million) fund to support private businesses

13 May: Informal traders will not pay licence fees during lockdown and 2 months after. Tax compliant businesses to get payment deadline extension till end of September – deadline to be communicated later. Simplified business taxation for non essential services including transport will not be payable. Banks directed to extend 3-month payment holiday for all affected individuals and companies. Lending and mobile money interest rates to be lowered.

26 June: The government to provide up to M20 000 (USD 1149) matching grants to companies, with number of employees ranging from one to 50, on condition the companies retain and do not retrench workers.
Financing social assistance and food relief
As part of the fiscal measures announced on 13 April, social protection schemes will be expanded. Existing cash transfers, such as the Child Grant Program will be topped-up. Public assistance will be expanded for 3 months, to add vulnerable groups such as children, elderly disabled, and those working in the informal sector.

On 23 April, it was announced that Lesotho's 45 000 factory workers would each be given LSL 800 (USD 44) monthly payments by the government over the "next two or three months" to enable them to meet some of their basic needs. That money would be separate from the LSL 500 million (USD 27.8 million) earmarked for businesses.

May 5: Food packages will be delivered to the vulnerable through a government-based delivery programme.

13 May: International students (within, outside SADC) to receive additional payments of 3 months. International (outside SADC) students to be paid additional $300 dollars for 3 months = $900. They are advised to remain at their bases. Students within the region will continue to receive allowances – will be assisted to return home if need be.

Liberia

Tests p/million
Confirmed cases
1237
Confirmed deaths
79
COVID-19: expected financing requirement
On 13 April, President Weah announced that anticipated financing to cover food relief, healthcare and other areas is USD 40 million (1.2% of GDP).

6 June: The pandemic opens a balance of payment need of USD 150 million (or 5.1% of GDP) in 2020, which largely arises from a domestic revenue shortfall projected at USD 119 million.
Official COVID-19 links
http://moh.gov.lr/

Government health expenditure p/capita (PPP USD) (2017)
19
Government health expenditure of government expenditure (2017)
3,86
Out-of-pocket expenditure of total health expenditure (2017)
47%
External health expenditure of health expenditure (2017)
3,86

Domestic and external financing
In March, the World Bank has to date approved USD1.5 million of financing (which is yet to be utilized). Areas of concentration under the plan include support to health care workers, purchase and rehabilitation of health care equipment, procurement of drugs and other medical supplies, deployment of surge staff to contact tracing activities, border areas, rapid response teams, training of responders, planning, communications and information sharing, staffing and equipping of laboratories, and logistical and supply support.

On 9 April, the World Bank approved additional USD 7.5 million International Development Association (IDA) financing to help Liberia respond to the threat posed by the Coronavirus outbreak. The financing consists of a USD 3.75 million grant and USD 3.75 million concessional IDA credit.

Liberia is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. As of 13 April, the IMF has offered debt relief to Liberia of USD 15.92 million.

17 April: An Emergency COVID-19 Relief Fund will be established at commercial to complement Liberian Government's purchase of necessaries such as food, medicines, face masks and face shields for vulnerable people, and testing kits, personal protection equipment and other protective gears for contact tracers and health workers. The Relief Fund shall be funded by assessment of 25% of the net salaries of all employed persons (both in the private and public sectors) for two months (May and June, 2020). Payment to the Emergency COVID-19 Fund shall be made in the same manner as payroll taxes are collected through the Liberia Revenue Authority as the intermediary; and all moneys collected by the Liberia Revenue Authority shall be deposited into the account(s) established at the commercial bank(s) designated by the Minister of Finance and Development Planning.


The African Development Bank is preparing a significant budget support operation under the COVID-19 Response Facility which was approved on April 8.

11 May: The United States Government has committed USD 1 million in health funds to mitigate the spread of COVID-19 in Liberia.

On 24 June, the Global Partnership for Education (GPE) approved Liberia's application for a COVID-19 accelerated funding request of (USD 7 million or 0.2% of GDP). The IMF approved the disbursement of SDR 36.17 million (USD 50 million of 1.7% of GDP) under the Rapid Credit Facility to support Liberia in their response to COVID-19.
Monetary and macrofinancial measures
7 May: No changes to monetary policy are envisaged at this stage, as the shortage of Liberian dollar banknotes coupled with the lack of confidence in the banking system precludes any meaningful response to the pandemic using monetary policy instruments. In mitigation of this situation, the CBL is expediting the procurement of additional banknotes to help meet the Liberian dollar demand in the economy. In response to the difficulties being felt by the private sector, the CBL is also allowing banks to practice limited forbearance on asset classification, provisioning, and lending policies in hard-hit sectors of the economy, while remaining vigilant for signs of banking sector stress.

29 May 2019: The board of governors reduced the policy rate by 500 basis points to 25%, in line with their inflation projections.

5 June: To address the shortage of Liberian dollars and the growing need for more U.S. dollar liquidity, the authorities have contracted the printing of additional Liberian dollar bank notes and are formulating measures for inclusion in the 2021 budget to augment US dollar liquidity.

PFM policies, practices and procedures
25 June: Liberian authorities have taken measures to raise domestic revenue, including legislative approval of an excise tax on fuel and adoption of a resolution to channel all revenues acquired by two large state-owned entities to the government’s consolidated account.
Budget adjustments and healthcare allocations
By 14 April, the Government of Liberia had provided USD500,000, as support to the fight against the COVID 19 outbreak.

15 April: President George Weah is requesting the Legislature to re-appropriate USD 25 million for the remainder of the 2019/2020 budget year in support of the government's stimulus package to facilitate food distribution for designated households for 60 days.

1 June: The proposed recast national budget reflects the redirection of L32 million (USD 11,2 million or less than 0.03% of GDP) towards a new “COVID-19 Response” budget item. The following items are seen to experience budget cuts; (i) Use of goods and services- decreased by close to L20 million (USD 100,000 or 0.003% of GDP); (ii) Spending on subsidies- decreased by L608 000 (USD 3040 or less than 0.001% of GDP); (iii) Spending on grants – decreased by L16 million (USD 80,000 or less than 0.002 % of GDP).
Transparency, accountability and participation
7 April: The Central Bank and Ministry of Finance and Development Planning intend to conduct a post-crisis audit of the expenditure by an independent auditor.

5 June: As part of their commitment to the IMF, the Government will publish COVID-19 public procurement contracts; publish names of companies awarded contracts; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; and conduct COVID-19 specific audit and publish results.

25 June: The Liberian government has made significant improvements in the monitoring, control, and transparency of expenditure, including by tabulating and publishing detailed weekly reconciled spending reports, by requiring all budgetary entities to utilize the centralized financial management system, and by committing to the timely publication of an audit of crisis spending.

Business support and tax measures
Financing social assistance and food relief
30 April: Government switched to take home meals, an approach they used during Ebola alongside their neighbor Sierra Leone.

25 May: The government is appropriating the amount of USD 25 million (or, 0.77% of GDP) to support food distribution to households in designated affected counties for a period of 60 days.

25 May: The Government is planning to take up the electricity bill of households in the affected counties for the duration of the STAY-AT-HOME. Cost of this measure is USD 4 million (0.12% of GDP).

Libya

Tests p/million
16
Confirmed cases
5451
Confirmed deaths
119
COVID-19: expected financing requirement
15 April: The Government of National Accord (GNA) announced a package of LD 500 million (USD 355 million, or about 1% of GDP) in emergency COVID-19 related spending. The exact nature and use of this spending is yet to be specified, but it is believed to be aimed at supporting the medical system in expanding testing and responding to a possible surge in infections, once the coronavirus arrives in Libya.

10 May: In Libya, the requirement for the COVID-19 Health Sector Plan stands at USD 15 million (0.03% of GDP).

27 May: USD 130 million (0.3% of GDP) required to respond to humanitarian need in Libya's COVID-19 response.
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
397
Government health expenditure of government expenditure (2017)
Out-of-pocket expenditure of total health expenditure (2017)
37%
External health expenditure of health expenditure (2017)

Domestic and external financing
10 May: Libya, has only received USD 4.5 million in funding (far less than 0.01% of GDP).

The 2020 HRP for Libya remains significantly underfunded and as of 10 May 2020 has received USD 15.6 million (less than 0.01% of GDP); 12% of the requirement. The Inter-Sector Coordination Group conducted an exercise that identifies USD 30.8 million (additional to the USD 15m for the COVID-19 Health Sector Plan) to be required for critical HRP activities addressing the direct and indirect
impacts of COVID-19 on the most vulnerable people in need over the next three months.

22 June: To date, Libya has received USD 39,1 million (0.1% of GDP) of the required funding to respond to humanitarian need as a result of the pandemic.
Monetary and macrofinancial measures

PFM policies, practices and procedures
On 15 March, a decree was passed banning export of personal protective equipment.
Budget adjustments and healthcare allocations
April 8: As a means to bolster the funds available to the Libyan state, the GNA has announced a pay cut to all civil servants of up to 20%, which is expected to be reallocated to other necessities within the budget.
Transparency, accountability and participation

Business support and tax measures
Financing social assistance and food relief
25 May: To prevent food prices from increasing, the Minister of Economy has adopted a regulation controlling the prices of 16 food items such as fruits, vegetables and meat. The regulation will be revised every 3 months.

Madagascar

Tests p/million
Confirmed cases
13086
Confirmed deaths
148
COVID-19: expected financing requirement
10 April: While the exact financing requirement associated with mitigating the health and economic impact of the crisis was not found to be available, it is estimated that the budget deficit will increase to 2% of GDP (from an expected surplus of about 1.1% before the shock).
Official COVID-19 links
http://www.sante.gov.mg/ministere-sante-publique/

Government health expenditure p/capita (PPP USD) (2017)
43
Government health expenditure of government expenditure (2017)
18%
Out-of-pocket expenditure of total health expenditure (2017)
22%
External health expenditure of health expenditure (2017)
18%

Domestic and external financing
On 3 April, SDR 122.2 million was provided by the IMF through its Rapid Credit Facility.

On March 12, the World Bank provided a grant of USD 3.7 million (0.02% of GDP) to strengthen prevention against the COVID-19 pandemic, purchase materials and equipment, and train health workers. On April 2, 2020, the World Bank approved USD 100 million (0.7% of GDP) Development Policy Operation (DPO) for budget support to improve the human capital.

Madagascar is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust.

Madagascar has been granted a loan through the IMF rapid credit facility of USD 165.99 million (1.2% of GDP), and was relieved of a further USD 4.19 million (0.03% of GDP).

15 May: The United States of America has granted Madagascar USD 2.5 million in health assistance.

26 June: The African Development Bank has approved USD 8.9 million in grant funding for 6 SADC countries (Lesotho, Malawi, Madagascar, Mozambique, Zambia, and Zimbabwe).
Monetary and macrofinancial measures
On the payments side, to better facilitate the use of electronic payments, the CBL has suspended fees and charges for most electronic transfers and point-of-sale outlets used by merchants and mobile money operators; and increased allowable daily limits. The bank has also increased the allowable daily and aggregate limits for mobile money transactions for a period of three months.

24 March: Madagascar’s central bank said on Tuesday it had injected 420 billion Ariary (USD 112.2 million, or 0.8% of GDP) in March through auctions into the banking system to help it cope with the coronavirus epidemic.

7 May: The central bank provided monetary policy support and acted to safeguard financial stability. The central bank has started to provide liquidity to the private sector, planning up to MGA 620 billion (USD 162 million or 1.2 % of GDP) to allow banks to defer delayed payments on existing loans and increase lending to businesses. There is also some evidence to suggest that the central bank has intervened in the exchange rate market slightly, although the extent of this intervention is unknown.

On 8 May, the central bank announced that all policy rates would remain unchanged, but that attention would be paid to the ever-changing nature of the economic impact of Covid-19 on Madagascar when deciding future rate changes.

PFM policies, practices and procedures
10 April: In the context of the IMF's support and as resources will be redirected by the central bank to the Treasury, a Memorandum of Understanding (MoU) between the central bank and the government will be signed. The MoU signed by the central bank and the ministry of economy and finance in the context of the ECF (part of the disbursement with the first review was used for budget support) will be updated and signed. It will specify (i) the maintenance of a specific government account at the central bank to receive IMF resources; (ii) the requirement that the government should hold foreign exchange balances only with the central bank; and (iii) the establishment of a clear framework agreement between the central bank and the ministry on responsibilities for servicing financial obligations.

15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

On 25 June, the Madagascar parliament voted unanimously on updating various aspects of the 2020 Budgetary Finance Bill, mainly focusing on the recouping of revenue shortfalls and assisting the economy out of a Covid-19-led recession. A detailed version of this document will be promulgated in the coming weeks, once finalised.
Budget adjustments and healthcare allocations
10 April: The government is working on a revised budget law that will consider additional fiscal and support measures and increased spending on epidemic prevention and control.

15 April: The government has begun to increasing health spending, with the prioritization and reorientation of spending, and through targeted investments to strengthen the health system, following the activation of the national contingency plan to fight the pandemic and with the support of development partners.

22 June: The authorities in Madagascar have amended their budget given the impact of Covid-19 on the country's economy. Various budget reallocations and additional spending components of the budget are expected, with the final version of the budget document yet to be approved for distribution. The budget for the immediate COVID-19 Emergency Response alone amounts to USD 132 million, this does not yet include the financial needs for social protection and recovery, which is being finalized through a socioeconomic plan.
Transparency, accountability and participation
10 April: As part of the support from the IMF, the authorities have committed to transparency on the planning, using, monitoring and reporting of additional health spending, whose modalities will be discussed with the World Bank and other donors.

Business support and tax measures
10 April: After meetings with the private sector (including the banking sector), the government announced a number of tax measures, including some deadline extensions for certain declarations and payments, and some tax exemptions on social and health spending related to the Covid-19 pandemic. In addition, in case of temporary impediments to work ("chomage technique"), employees can benefit from a government allowance while the employer social contributions are suspended. Companies facing difficulties will be able to benefit from a moratorium on their bank credits.
Financing social assistance and food relief
10 April: Cash-transfers and in-kind necessities will be provided to the poorest and those unemployed. First measures include government donations (notably rice, sugar, dry peas, soap, and oil) to the most vulnerable, notably the homeless and the elderly, as well as some workers in the informal sector particularly affected (such as taxi and other public transport drivers and street vendors).

10 April: Workers temporarily out of work can postpone repayment of their mortgage or consumer credit for the next three months.

30 April: President Andry Rajoelina has introduced a “social emergency plan” that includes food and cash disbursements (of USD 2.7 million or 0.02% of GDP) for those unable to work due to the lockdowns imposed on Antananarivo and Toamasina.

8 May: The Ministry of Public Health has authorised that, during the state of emergency, all pregnant women will be granted transportation to hospitals free of charge.

25 May: There is a cheap market organized by the State in each "district" (quartier) where people can buy at a low price 3 kg of rice and 1l of oil for around 1.5 USD, per family (half of the price).

Malawi

Tests p/million
Confirmed cases
4658
Confirmed deaths
146
COVID-19: expected financing requirement
8 April: The Malawian government's Preparedness and response planoutlines the need for USD 213 million (approximately 3% of GDP) to respond to the COVID-19 crisis.
Official COVID-19 links
https://www.health.gov.mw/index.php/downloads/category/7-covid19-information

http://www.covid19.health.gov.mw/

Government health expenditure p/capita (PPP USD) (2017)
32
Government health expenditure of government expenditure (2017)
9,83%
Out-of-pocket expenditure of total health expenditure (2017)
11%
External health expenditure of health expenditure (2017)
9,83%

Domestic and external financing
Malawi’s president and cabinet will take a 10% salary cut and redirect the money towards the fight against coronavirus.

On 15 April, the World Bank approved USD 7 million (0.1% of GDP) in immediate funding to support Malawi’s response under a new Malawi COVID-19 Emergency Response and Health Systems Preparedness project. In addition to the new operation, USD 30 million has been made available from the Disaster Risk Management Development Policy Financing with a Catastrophe Deferred Drawdown Option (Cat-DDO) to strengthen the country’s response to the pandemic.

By 27 March, the UK’s Department for International Development (DFID) has provided approximately 1.7 billion Kwacha (USD 2.3 million or 0.03% of GDP) to UNICEF to strengthen Malawi’s capacity to prevent a COVID-19 outbreak.

Malawi is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust of USD 9.85 million (0.14% of GDP).

As of 1 May, the IMF has loaned Malawi USD 91 million (roughly 1.3% of GDP) through its rapid credit facility.

2 May: While the World Bank first released USD 7 million to Malawi in immediate relief funding, it then released an additional USD 97 million (1.4% of GDP) into the Covid-19 relief effort of Malawi.

15 May: The Global Partnership for Education approved an accelerated funding request of USD 10 million (0.12% of GDP), with a 7% agency fee for UNICEF (the grant agent in this case).

26 June: The African Development Bank has approved USD 8.9 million in grant funding for 6 SADC countries (Lesotho, Malawi, Madagascar, Mozambique, Zambia, and Zimbabwe).
Monetary and macrofinancial measures
The President also directed the central bank to “cushion the foreign exchange market to ensure availability of forex and stability of the foreign exchange rate,” and work on an emergency liquidity assistance framework to support banks in the event of worsening liquidity conditions.

The decision by the Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) to slash the Liquidity Reserve Requirement (LRR) has instantly made available MWK12-billion into the banking system.

7 May: The domestic currency Liquidity Reserve Requirement (LRR) has been reduced by 125 basis points to 3.75 % (aligned with the foreign currency LRR) and the Lombard Rate has been reduced by 50 % to 0.2% above the policy rate. An Emergency Liquidity Assistance (ELA) framework has been introduced to support banks in the event of worsening liquidity conditions and to provide support to banks on a case-by-case basis. However, financial sector buffers, including banks’ capital and liquidity buffers, are expected to counter risks to the banking system. To support small and medium enterprises (SMEs), commercial banks and micro-finance institutions will be, on a case-by-case basis, restructuring SME loans and providing a three-month moratorium on their debt service. Fees on mobile money transactions have been temporarily waived to encourage cashless transactions.

PFM policies, practices and procedures
end-April: The Ministry of Industry and Trade has challenged local manufacturers to rise to the occasion by engaging in import substitution amid the COVID-19 outbreak that has affected regional and global trade. In an interview, the ministry’s Principal Secretary Ken Ndala said local manufacturers have opportunity to produce for the local market, especially when the raw materials are sourced locally.

7 May: The Ministry of Health has adopted a national tool developed by UNICEF for tracking supplies of personal protective equipment, medical equipment and medicines available in-country. This tool will assist with mapping and tracking of these supplies. Based on the samples submitted by the local suppliers, latex gloves, apron plastic, heavy-duty gloves, surgical masks and N95 masks will be procured locally.

end-April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

20 May: In addition clearing arrears to inject liquidity into the economy, to prevent future arrears, procedures have been implemented that require Ministry of Finance vetting and registration of contract sums against available funding before contract signing.
Budget adjustments and healthcare allocations
end-March: The government’s response plan includes USD 20 million (0.25 % of GDP) in spending on health care and targeted social assistance programs. The details of the plan are still being refined.

20 May: The Government has committed to increase health sector outlays related to COVID-19, including developing testing capabilities, equipping treatment centers, importing medical equipment and supplies, hiring 2000 additional medical staff, and raising public awareness, by 0.3% of GDP in FY 2019/20 and at least 0.3% of GDP in FY 2020/21.

20 May: Injected liquidity into the economy, by paying domestic arrears accrued by the Roads Fund during 2012-19. The Auditor General has verified unpaid bills of close to 1.1% of GDP in the Roads Fund and certified that, of these unpaid bills, 0.8% of GDP were arrears as of end-December 2019. As of end-March 2020, the government had already cleared half of these (0.4% of GDP) and the other half is expected to be cleared by end-2020—assuming no additional pandemic-related spending needs. The remaining 0.3&% of GDP in unpaid bills are under dispute.

20 May: The FY 2020/21 budget will include fiscal measures to mitigate the impact of the pandemic. The budget will be submitted to Cabinet in May and is expected to be approved by Parliament by end-June. Contingency measures, should COVID-19 related revenue shortfalls and spending exceed projections at the time of budget approval, are being discussed. These could include re-prioritizing non-essential spending on goods and services and development projects in non-health areas and reduced purchases of motor vehicles, office equipment, and non-essential recurrent spending.

25 June: The Minister of Finance presented the 2020/21 National Budget, with the backdrop of a 35% drop in revenue collection. This budget has been pegged at K2.2 trillion (USD or 28.3 % of GDP) representing a 9% increase from the previous years' budget. The Minister of Finance announced that it is impossible to reduce public debt in light of the COVID-19 related slowdown in the economy, and that should the pandemic extend towards December the domestic economy is likely to enter a recession. The budget reflects the efforts of government to continue to tackle four key issues; economic growth, job creation, economic empowerment, and infrastructure development. It was further revealed that the 2020/21 National Budget will incur a budget deficit of K632 billion (USD or 10% of GDP).

25 June: The Mwanza District Health Office was allocated K35 million for the fight against Covid-19; of which about K16.8 million has been spent on various activities related to the fight against the global pandemic.
Transparency, accountability and participation
1 May: As part of its commitment to the IMF, the Government commits to publish names of companies awarded contracts; publish tenders; publish bids; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; conduct COVID-19-specific audit and publish results.

25 June: Government has asked local councils in the country to uphold principles of transparency and accountability on the use of financial resources provided by government for the fight against the COVID-19 pandemic. Government is interested to know how the resources that were sent to the councils have been used and what has been done on the ground at council level regarding the pandemic.

Business support and tax measures
7 May: The Government has announced a number of measures aimed at cushioning small- and medium-sized businesses, including tax breaks, a reduction in fuel prices and an increase in risk allowances for health workers.

7 May: The government will also increase loans under the Malawi Enterprise Development Fund that will help micro, small and medium scale businesses that have been seriously affected by the pandemic to 15 billion Malawi kwacha ($20.69 million) from 12 billion kwacha.

7 May: President Mutharika also ordered tobacco markets to be opened and allowed to operate without disruption to protect small farmers and bolster foreign currency receipts.

7 May: The Reserve Bank of Malawi has instructed banks to offer a three-month moratorium on interest payments on loans to small- and medium-sized businesses.

7 May: Tax waivers will be granted on imports of essential goods to manage and contain the pandemic.

25 June: A (USD 50 million or 6% of GDP) Emergency Cash Transfer Programme, which is mostly financed by development partners, will be implemented during May through to November to support small businesses in major urban areas. To address the immediate need, the World Food Programme (WFP) has distributed cash to almost 350,000 vulnerable people in the country’s most food-insecure districts.
Financing social assistance and food relief
7 May: An Emergency Cash Transfer Program of about USD 50 million (0.6 % of GDP), mostly financed by development partners, will be implemented during May-November 2020 to support small businesses in major urban areas.

20 May: The Government has committed to increase social assistance spending under the social cash transfer program (SCTP) to help the most vulnerable households mitigate the economic impact of the virus. In response to COVID-19, during FY 2019/20, under the foreign-financed portion of the SCTP, the number of beneficiaries—especially in urban areas—has been expanded through universal transfers to all residents of vulnerable urban neighborhoods. In FY 2020/21, the transfers provided to each recipient of the SCTP will be permanently raised by 40%. SCTP payments will be fast tracked, with a four-month payment covering up to June delivered in April.

21 May: Purchase and storage of maize by the Agricultural Development and Market Corporation (ADMARC, a state-owned enterprise), financed by borrowing from banks and 0.1% of GDP from the budget for each of FY 2019/20 and FY 2020/21. This measure is intended to mitigate the impact of partial market closures on farmers’ incomes and ensure food security for the second half of the year—especially for the most vulnerable.

25 June: 172,000 households are to receive a monthly payment of USD 50 through mobile money transfers from government.

Mali

Tests p/million
Confirmed cases
2567
Confirmed deaths
125
COVID-19: expected financing requirement
28 May: The expected financing requirement of a Covid-19 response plan has been estimated at approximately FCAF 15.5 billion (USD 26.7 million, or 0.2% of GDP).
Official COVID-19 links
http://www.sante.gov.ml/

Government health expenditure p/capita (PPP USD) (2017)
25
Government health expenditure of government expenditure (2017)
5,43%
Out-of-pocket expenditure of total health expenditure (2017)
35%
External health expenditure of health expenditure (2017)
5,43%

Domestic and external financing
On 6 April the United Nations provided support of approximately USD 7 million (0.04% of GDP), some of which is in-kind support. An update on June 18 suggested that funding from the United Nations had increased from USD 7 million to USD 23 million (closer to 0.13% of GDP).

On 10 April, The World Bank has approved a USD 25.8 million (0.15% of GDP) International Development Association 50 % grant and 50% credit to support Mali’s response to Covid-19.

Mali is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust.

On 31 March, the Prime Minister's announced the creation of a Special Solidarity Fund to fight against Covid-19.

As of 30 April, the IMF has offered Mali rapid credit facility relief to the tune of USD 166 Million (roughly 0.97% of GDP), and a further USD 10 million (0.06% of GDP) worth of debt pardon.

28 April: The European Union has announced additional support to Burkina Faso, Chad, Mali, Mauritania, and Niger, of 194 million Euros. This comes after the EU pledged to mobilise 449 million Euros earlier on in April for the same 5 countries.

9 June: The African Development Bank has approved grant funding of USD 20 million in response to the economic impact of Covid-19 for Mauritania, Mali, Burkina Faso, Niger and Chad.
Monetary and macrofinancial measures
7 May: The regional central bank (BCEAO) for the West-African Economic and Monetary Union (WAEMU) has taken preemptive steps to better satisfy banks’ demand for liquidity and mitigate the negative impact of the pandemic on economic activity. The BCEAO adopted a full allotment strategy at a fixed rate of 2.5 % (the minimum monetary policy rate) thereby allowing banks to satisfy their liquidity needs fully at a rate about 25 basis lower than before the crisis. The BCEAO had also announced: (i) an extension of the collateral framework to access central bank refinancing to include bank loans to prequalified 1,700 private companies; (ii) a framework inviting banks and microfinance institutions to accommodate demands from customers with Covid19-related repayment difficulties to postpone for a 3 month renewable period debt service falling due, without the need to classify such postponed claims as non performing; and (iii) measures to promote the use of electronic payments. In addition, the BCEAO launched a special 3-month refinancing window at a fixed rate of 2.5 % for limited amounts of 3-month "Covid-19 T-Bills" to be issued by each WAEMU sovereign to help meet funding needs related to the current pandemic.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
On April 27, Heads of States of the West-Africa Economic and Monetary Union (WAEMU) adopted a Declaration suspending temporarily the application of the Union’s Pact for Convergence, Stability, Growth and Solidarity among its member-countries. This suspension will allow member-countries to raise their overall fiscal deficit temporarily and use the additional external support provided by donors in response to the Covid-19 crisis.
Budget adjustments and healthcare allocations
On March 17, 2020, the President of the Republic announced the availability of an envelope of 6.3 billion CFA (USD 10.4 million or 0.06% of GDP) to fight against the Coronavirus pandemic. An action plan for the prevention and response to COVID-19 has been developed by the Government. This plan is budgeted up to 3.3 billion FCFA and revolves around prevention and management, that is to say the response.

By 23 April, the health response plan had been revised upwards to 0.5 % of GDP to prevent the spread of COVID-19 and strengthen its medical care capacity, in collaboration with the World Health Organization.

30 April: response plan is expected to widen the fiscal deficit from 3.5% of GDP projected prior to the crisis to 6.2% of GDP in 2020.

28 May: An amended Financial Bill has come into effect in light of the economic impact of Covid-19 on Mali's economy. The amendment has, among other things, allocated funds to a Covid-19 response plan for the country. The amended Financial Bill 2020 was published, along with an amended 2020 budget. The health budget in the country has been allocated a further FCAF 40 billion (USD 68.8 million, or 0.4% of GDP). For the full budget amendment, see the following French-only link: https://www.finances.gouv.ml/lois-des-finances/projet-de-loi-de-finances-rectificative-2020 .
Transparency, accountability and participation
7 May: As part of their commitment to the IMF, authorities commit to quarterly reporting of all COVID-19 spending, the commission of an independent and robust third-party audit of this spending in a year's time, and to publish its results. The Government will also publish regularly on its website documentation on large public procurement projects, together with ex-post validation of delivery along with the name of awarded companies and the name of their beneficial owner(s).

Business support and tax measures
No official measures taken by the Government in favor of enterprises. However, meetings between the Minister of Health and Social Welfare, the Prime Minister and the National Employers Council took place.

7 May: A package of economic measures was also announced to ease liquidity constraints on ailing firms, including an SMEs-support guarantee fund, clearing the budget spending float, granting tax deferral and relief to ease liquidity constraints on the hardest-hit companies, especially in the hospitality sector (hotels, restaurants, transportation).
Financing social assistance and food relief
7 May: The setup of a special fund to provide targeted income support to the poorest households, a mass distribution of grain and food for livestock to poorest households, the supply of electricity and water free of charge to the poorest consumers for the months of April and May 2020, a 3-month exemption from VAT on electricity and water tariffs, and a 3-month exemption from customs duties on the import of basic food (rice and milk).

7 May: 10 million masks were distributed to the population by the state.

13 May: The PARSANTE project has assisted with providing healthcare services and healthcare items (hydroalcoholic solutions, soap, thermometers, masks and gloves) to Malians.

25 May: Free distribution of fifty-six thousand tonnes of cereals and sixteen thousand tonnes of livestock food to vulnerable populations affected by COVID-19.

Mauritania

Tests p/million
128
Confirmed cases
6523
Confirmed deaths
157
COVID-19: expected financing requirement
29 April: Balance of payments need stemming from the COVID-19 crisis are estimated at USD 370 million (7.1% of GDP). USD 210 million (4% of GDP) is required in additional health, medical supplies, social protection, SME support, foodstuff stocks, and security-related expenditures to address the pandemic.
Official COVID-19 links
http://www.sante.gov.mr/

Government health expenditure p/capita (PPP USD) (2017)
60
Government health expenditure of government expenditure (2017)
5,53%
Out-of-pocket expenditure of total health expenditure (2017)
51%
External health expenditure of health expenditure (2017)
5,53%

Domestic and external financing
On 2 April, The World Bank Board of Executive Directors approved a USD 5.2 million (0.1% of GDP) grant from the International Development Association to support Mauritania in strengthening the national public health preparedness to the COVID-19 pandemic. This new project complements USD 2 million (0.03% of GDP) of support provided under the existing Regional Disease Surveillance Systems Enhancement (REDISSE III) project for the national COVID-19 response plan.

The government on March 25 announced the creation of an emergency fund of about USD 80 million (1.1 % of GDP) for urgent procurements of medical supplies and equipment; subsidies to 30,000 poor households; and financial support to small individual businesses.

To help provide much-needed resources for health services and social protection programs, the IMF Board on April 23, 2020 granted to Mauritania an emergency financing of SDR 95.68 million (USD 130 million, or 2.5% of GDP) under the Rapid Credit Facility. The country has also appealed to development partners for additional financing.

28 April: The European Union has announced additional support to Burkina Faso, Chad, Mali, Mauritania, and Niger, of 194 million Euros. This comes after the EU pledged to mobilise 449 million Euros earlier on in April for the same 5 countries

31 May: UNICEF is attempting to earmark external grant financing for Mauritania of USD 17.3 million (roughly 0.3% of GDP) in order to assist the country with its Covid-19 response efforts.

9 June: The African Development Bank has approved grant funding of USD 20 million in response to the economic impact of Covid-19 for Mauritania, Mali, Burkina Faso, Niger and Chad.
Monetary and macrofinancial measures
To ease liquidity conditions and support the financing of the economy, the Central Bank has reduced the policy rate from 6.5 % to 5 %; marginal lending rate from 9 % to 6.5 %; and banks’ reserve requirements from 7 % to 5 %.

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
End-March:The government is expected to announce soon a large set of measures to further address the pandemic and support the population and the economy, including financial assistance to negatively impacted people and businesses.

End-April: The Ministry of Health has prepared a USD 10 million (0.13% of GDP) short-term response plan to contain the spread of COVID-19. The plan includes the procurement of medical supplies and equipment as well as the recruitment of additional medical staff.

29 April: Government has programmed additional budget outlays of USD 143 million (2.2% of NEGDP) for health (USD 40 million), direct support for agricultural production (USD 53 million), direct support for SMEs (USD 18 million), and build-up of stocks of essential foodstuffs (USD 32 million) and stand ready to take further social action if the fluid situation deteriorates.
Transparency, accountability and participation
29 April: The Government is committed to full transparency in the use of resources deployed for the emergency response, to channel all spending through the budget (including the social assistance fund), and to track, account for, and report in a transparent manner. To help deter misappropriation of crisis mitigation funds and assist fundraising from donors, the authorities will set up a supervisory committee for the social assistance fund and will ask the Court of Accounts to audit crisis mitigation spending once the crisis abates and to publish the results. They will also publish information on the Ministry of Finance’s website regarding public procurement contracts related to crisis mitigation, the names of the awarded companies and their beneficial owners, and ex-poste validation of delivery.

Business support and tax measures
29 April: Government has waived taxes on and SMEs (the government’s contribution to the fund represents about $67 million or 1% of GDP so far).
Financing social assistance and food relief
31 March: Measures to mitigate the socio-economic impact of these decisions are being implemented, such as the exemption of 174 707 households from paying electricity bills for two months. On April 8, the army started food distribution to vulnerable households in Nouakchott.

29 April: the authorities have deployed a sanitary preparedness plan to prevent and response to the pandemic. To mitigate the economic and social impact, they have set up a special social assistance fund (open to private funding) to procure urgent medical supplies and support 30 000 vulnerable households (about USD 14 million or 0.03% of GDP, in line with the existing cash transfer program supported by the World Bank).

10 June: In association with the Mauritanian government, the UNHCR and the World Food Programme have provided food and cash assistance to all refugees in the Mbera camp.

Mauritius

Tests p/million
6510
Confirmed cases
344
Confirmed deaths
10
COVID-19: expected financing requirement
The authorities have announced plans to increase public health spending by Rs 208 million (USD 5.2 million, or 0.04% of GDP), with half already disbursed. There are a range of other fiscal support measures including an additional Rs 4 billion (USD 100 million, or 0.8 % GDP) in financing.
Official COVID-19 links
http://www.covid19.mu/

http://mof.govmu.org/English/Covid-19/Pages/default.aspx

Government health expenditure p/capita (PPP USD) (2017)
532
Government health expenditure of government expenditure (2017)
9,96%
Out-of-pocket expenditure of total health expenditure (2017)
48%
External health expenditure of health expenditure (2017)
9,96%

Domestic and external financing
30 March: Through the Finance and Audit (COVID-19 Solidarity Fund) Regulations 2020, Government has set up a COVID-19 Solidarity Fund to provide support to the population and the community at large who are being affected by the COVID-19 pandemic.

22 May: The African Development Bank has approved a 188 million Euro loan (USD 210 million, or roughly 1.5% of GDP) to the Republic of Mauritius to finance a national budget support programme to respond to the COVID-19 pandemic, the Group’s Board of Directors said Friday.
Monetary and macrofinancial measures
The Bank of Mauritius (BOM) reduced the Key Repo Rate from 3.35 % to 2.85 % on March 10. On March 13, the BOM also adopted a set of measures focused on economic operators which are being directly impacted by COVID-19, including: i) reduction of cash reserve ratio - lower cash reserve ratio from 9 to 8 %; ii) special relief amount of Rs 5 billion (1 % or GDP) - special credit line for affected firms to be administered via the commercial banks to meet affected operators’ cash flow and working capital requirements; iii) moratorium on capital repayment for loans - commercial banks will provide a moratorium of six months on capital repayment for existing loans of affected economic operators; iv) easing of banking guidelines - the BOM also eased supervisory guidelines on handling credit impairments and v) savings bonds - Rs 5 billion (1 % of GDP) of 2.5 % two-year BOM bonds which will be made available to retail investors. On March 23, BOM announced additional support measures: i) support to households - six-month moratorium on household loans at commercial banks, while BOM will bear interest payments for households with the lowest income; ii) Special Foreign Currency (USD) Line of Credit ($300 million) - targeting operators having foreign currency earnings, including SMEs; iii) Swap arrangement to support import-oriented businesses (initial amount $100 million); and iv) Shared ATM Services - waving ATM fees during national confinement period.

On 16 April, the repo rate was cut further from 2.85% to 1.85%.

On 21 May, while the repo rate remained the same as it was in April, the central bank in Mauritius decided to intervene in the foreign exchange market in order to restore the purchasing power of the domestic currency.

2 June: The Cash Reserve Ratio applicable to commercial banks has been reduced from 9% to 8%. It aims at supporting commercial banks to further assist businesses which are being directly impacted by COVID-19.

29 June: It was announced that the Monetary Policy Committee would meet to discuss potential changes to various policy rates on 8 July.

PFM policies, practices and procedures
SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

The Minister of Finance, Economic Planning and Development constituted the COVID-19 Managing Committee.

Hand sanitiser, other breathing appliances and gas masks, excluding protective masks having neither mechanical parts nor replaceable filters, and protective masks are being made zero-rated for VAT purposes. According to MRA, the measure will cost around Rs 5.5 million on a yearly basis.

13 May: COVID-19 and the Quarantine Bills were introduced into the National Assembly.

.
Budget adjustments and healthcare allocations
On 13 March it was announced, additional funds of Rs 208 million (USD 5.2 million or 0.04% of GDP) are being made available to the Ministry of Health and Wellness for the acquisition of new medical accessories and equipment, of which Rs 108 million have already been disbursed. There are a range of other fiscal support measures including an additional Rs 4 billion (USD 100 million or 0.8 % GDP) in spending/financing.


On 4 June, the Mauritian government presented the amended 2020/2021 budget. The budget prioritises economic responses post-Covid, across various key sectors of the economy were discussed at a sectoral level. The Budget, seeks to maintain an equilibrium while ensuring the development of the country, promoting the welfare of the population, catering for vulnerable people of the social ladder and preserving employment.These allocations include the provision of MUR 12 billion (USD 303 million or 2.1% of GDP) for the construction of 12,000 social housing units, earmarking of MUR 34 million (USD 856,967) for support to local artists, and MUR 35 million (USD 882,172) for preservation and rehabilitation of historical and cultural sites. These are further broken down in English and French at the following link: http://budget.mof.govmu.org/
Transparency, accountability and participation
2 May: The accounts of the COVID-19 Soliddarity Fund formed by the Mauritian government and the Annual Report would be audited by the Director of Audit.

Business support and tax measures
The State Investment Corporation will raise Rs 2.7 billion (0.5 % of GDP) to make equity investments in troubled firms.

Government is waiving the fees payable by sellers of vegetables, haberdashery and general merchandise in markets around the island during the curfew period.

On 13 March it was announced, to support to economic operators, across all sectors of activities including local manufacturing and SMEs will require mobilisation of Rs 9 billion, out of which Rs 1 billion will be from the Consolidated Fund and the remaining Rs 8 billion from Public Bodies.

The Development Bank of Mauritius will give Rs 200 million (USD 5 million or 0.04 % of GDP) in credit for firms short on cash.

Affected firms will receive extra tax deductions.

Government has implement a Wage Assistance Scheme during the COVID-19 Curfew Period through the Mauritius Revenue Authority (MRA). Every business in the private sector will be entitled to receive an amount equivalent to the 15 days’ basic wage bill for all of its employees subject to a cap.

Eligible Self-Employed individuals will receive a financial support of Rs 5 100 (i.e. 50% of Guaranteed Income) for the period 16th March 2020 to 15th April 2020.

In addition to the moratorium of 6 months on capital repayments, eligible SMEs will also benefit from a moratorium of 6 months on interest payments on their existing loans with Commercial Banks.

15 May: Companies contributing to the Covid-19 solidarity fund in the country now qualify for various tax deductions. Further, companies having benefited from wage subsidies may be subject to a levy once the balance sheet of the company has recovered.

4 June: In order to ease business conditions in light of Covid-19, the Mauritius Revenue Authority will regulate fees on freight, whilst various fees for reinstating companies will be revised downwards from Rs 15 000 to Rs 5 000 (from USD 375 to USD 125). It was also announced that the Development Bank of Mauritius would offer loans at concessional rates for businesses within the agriculture sector. The same announcement pointed out that Rs 19 million (USD 476 000) would also go towards supporting firms and employees in the cultural/entertainment industry, given the economic impact of Covid-19 in the industry. The government introduced a levy for a company with annual gross income exceeding MUR 500 million or forming part of a
group with annual gross income exceeding MUR 500 million. Insurance, property and financial institutions will contribute 0.3% of annual gross profits, while other companies will contribute 0.1%.

5 June: Hotels operating in the tourism industry have been allowed to convert some rooms into residential structures due to Covid-19, and have been provided with waivers on state land rental payments and license fees due to Covid-19..

26 June: Tax return deadlines have been extended, with tax returns filed before or on 31 July not subject to interest/penalty assessments.
Financing social assistance and food relief
15 April: All labor contracts set to expire this year are extended through December 3, 2020. The government will also introduce a Wage Support Scheme to limit the socio-economic impact of COVID-19 by providing financial support to employees who would become unemployed on a temporary basis.

15 April: Funds of an amount of Rs 2.6 billion (USD 65.5 million, or 0.5% of GDP) will be provided under the Wage Assistance Scheme.

30 March: Mauritian households impacted by COVID-19 may request their commercial banks for a moratorium of 6 months on capital repayments on their existing household loans as from the 1st April 2020.
In addition, for households earning a combined monthly basic salary of up to Rs 50 000 (USD 1 250) the Bank of Mauritius will bear the interest payable for the period 1st April 2020 to 30th June 2020 on their outstanding household loans with commercial banks.

30 May: Enterprises will be entitled to receive an amount equivalent to the 15 days’ basic wage bill for all of its employees drawing a monthly basic wage of up to Rs 50 000 (USD 1 260) subject to a cap of Rs 12 500 (USD 315) per employee.

Morocco

Tests p/million
260
Confirmed cases
33237
Confirmed deaths
498
COVID-19: expected financing requirement
7 May: Moroccan authorities have authorised a special Covid relief fund, which amounts to USD 3.2 billion (2.7% of national GDP), and will be financed by a mixture of government and voluntary contributions.
Official COVID-19 links
http://www.covidmaroc.ma/Pages/AccueilAR.aspx

https://www.sante.gov.ma/Pages/Accueil.aspx

Government health expenditure p/capita (PPP USD) (2017)
218
Government health expenditure of government expenditure (2017)
9%
Out-of-pocket expenditure of total health expenditure (2017)
49%
External health expenditure of health expenditure (2017)
9%

Domestic and external financing
On 6 April, it was announced that Morocco's government will suspend its USD 3 billion foreign-debt ceiling, allowing it to borrow more money as it tries to respond to the coronavirus crisis.

The EU has granted 450 million Euros (0.43% of GDP) to Morocco to help with its emergency fiscal package.

On April 7, the Moroccan authorities purchased all available resources (about USD 3 billion or 2.5% of GDP) under the Precautionary and Liquidity Line (PLL) arrangement with the IMF. The authorities will use funds to cope with the social and economic impact of COVID-19 and to maintain strong external buffers.

King Mohammed VI launched the Special Fund for Management and Response to COVID-19 earlier this month. The fund initially held USD 1 billion (or 0.83% of GDP), a figure that more than doubled thanks to donations from public and private sector institutions, as well as individuals. Fund donors include King Mohammed VI, government officials, and several banks. Morocco’s Ministry of Economy launched an SMS messaging option for anyone wishing to contribute to national efforts under the fund.

30 May: The EU has contributed 157 million Euros to Morocco's special fund, and has pledged more grants by the end of the year.

16 June: The World Bank has allocated USD 13.01 million (0.01% of GDP) of undisbursed funds from its existing health programme, and raised a further USD 35 million (0.03% of GDP), to assist in Morocco's response to the Covid-19 pandemic.
Monetary and macrofinancial measures
On 19 March, the central bank reduced the policy rate by 25 bps to 2.0%.

On 16 June, the Bank Al-Maghrib decided on decreasing the policy rate from 2% to 1.5%.

PFM policies, practices and procedures
End-April: The Moroccan government has launched a new economic monitoring committee to follow the developments of the novel coronavirus (COVID-19) outbreak and mitigate its impact on the national economy. The new committee will develop measures and mechanisms to closely follow up on the developments of the epidemic and find ways to support the economic sectors directly affected by the global health threat, notably tourism and transport. Chaired by Minister of Economy.

12 May: According to a circular issued by the Ministry of Economy and Finance, Ministries and the High Commission, a single portal for administrative correspondence, was created to allow administrations and citizens to interact with administration and send their administrative correspondence remotely. bAn electronic administrative correspondence service has also been set up to manage incoming and outgoing mail, as well as those exchanged between internal services at the central and decentralised levels of administrations and to enable administrations to dematerialise administrative documents, electronic signature and workflow management. All public administrations will be able to use this application for free , in addition to that, the agency of digital development offer personalized assistance according to the specific needs of each other, in parallel training is provided remotely to help users to take full advantage of these solutions.
Budget adjustments and healthcare allocations
31 March: Morocco reallocated 150 million Euros from the current budget to the Special Fund for the Management of Covid-19.
Transparency, accountability and participation

Business support and tax measures
On March 16, the Economic Monitoring Committee CVE announced that all companies with an annual turnover of less than MAD 20 million (USD 2 million) can, if they wish, postpone their tax payment deadlines from March 31 to the end of June. Moroccan companies with an annual turnover equal to or higher than MAD 20 million can request a postponement of their tax payment deadlines.

30 March: Companies can benefit from the suspension of social security contributions for the period from March 1 to June 30, 2020 with graceful remission of late payment increases for this period for employers in difficulty.

On 24 April, the Moroccan insurance supervisor relaxed some provisioning requirements to mitigate the impact of COVID-19 on the insurance sector.

12 May: The launch of the product DAMANE OXYGENE, a guarantee product put in place by MEFRA with the Caisse Centrale de Garantie (CCG), aims to provide coverage for an exceptional overdraft up to 95% for SMEs and mid-sized companies with a turnover of between 200 million and 500 million DH (between USD 20 million and USD 50 million), and whose activities have been impacted by the crisis.

28 May: Deadline for CIT returns due 31 March 2020 is extended until the end of the emergency state- practical aspects yet to be confirmed as this is supposed to cover only taxpayers encountering difficulties due to the current crisis.
Financing social assistance and food relief
End-April: Employees registered under the National Social Security Fund (CNSS) will benefit from a MAD 2,000 (USD 200) monthly stipend, in addition to family allowances and health coverage. Meanwhile, workers in the informal sector who cannot practice their activity due to the lockdown will receive compensation through the National Medical Assistance Program (RAMED). Households of two people or less will receive MAD 800 (USD 80) monthly, while households of three to four people will receive MAD 1,000 (USD 100). Households of more than four members will benefit from MAD 1,200 (USD 120) monthly.

End-April: The Economic Watch Committee (Comité de veille économique) (CVE) decided to activate a mobile payment device to transfer cash to workers operating in the informal sector adversely affected by COVID-19 (only for those who have been directly affected by the confinement. The electronic cash transfer program will reach half of the informal sector workers (estimated 3 million workers to receive payment). The speed and scale is facilitated by the use of a health insurance fee waiver registry in the first phase and a simple payment mechanism.

End-April: The CNSS will ensure transfer of family allowance/child allowance and reimbursements of medical expenses through the Compulsory Health Insurance (Assurance Maladie Obligatoire).

End-April: Formal employees who lose their jobs and are registered with the pension fund will receive 2,000 dirhams ($203) a month (MAD1,000 for March, MAD2,000 for April, May and June) and defer debt payments until 30 June.

28 May: Deadline for filing individual income tax returns due before 1 April is extended until the end of the emergency state - practical aspects yet to be confirmed.

2 June: The government has implemented medical aid coverage and a pension scheme from which approximately 11 million Moroccans (5 million self-employed workers and their beneficiaries) will benefit.

Mozambique

Tests p/million
24
Confirmed cases
2269
Confirmed deaths
16
COVID-19: expected financing requirement
11 May: While more details regarding the expected financing needs of the Mozambican Covid-19 response plan are being fleshed out, the government expects the health portion of its intervention plan alone to cost close to USD 260 million (approximately 1.77% of GDP) .
Official COVID-19 links
https://covid19.ins.gov.mz/

Government health expenditure p/capita (PPP USD) (2017)
33
Government health expenditure of government expenditure (2017)
8,35%
Out-of-pocket expenditure of total health expenditure (2017)
7,67%
External health expenditure of health expenditure (2017)
8,35%

Domestic and external financing
The Government of Mozambique has asked for USD 700 million (roughly 4.8% of GDP) from development partners to help combat the negative impacts of the Covid-19 pandemic.

Mozambique is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust

On 27 April, the IMF has provided Mozambique with a loan equivalent to USD 309 Million (2.1% of GDP), under their rapid credit facility. This is earmarked for the healthcare sectors, as well as for support to SMMEs within the country.

6 May: The EU is expected to provide 110 million Euros (approximately 0.84% of GDP) to assist Mozambique in their Covid-19 containment measures.

4 June: The Humanitarian Country Team in Mozambique has earmarked funding of USD 68.1 million (0.5% of GDP) to assist Mozambique with its Covid-19 response.

26 June: The African Development Bank has approved USD 8.9 million in grant funding for 6 SADC countries (Lesotho, Malawi, Madagascar, Mozambique, Zambia, and Zimbabwe).
Monetary and macrofinancial measures
On 22 March, the Bank of Mozambique announced measures to enhance liquidity in foreign and national currency, including a USD 500 million (3.3% of GDP) credit line for banks and relaxation of conditions for restructuring debts of bank customers to mitigate the effects of Covid-19.

With effect from 7 April, the reserve ratio was reduced from 13% to 11.5% in local currency and from 36% to 34.5% in foreign currency.

On 29 April, the central bank introduced a requirement requiring exporters to exchange 30% of their forex proceeds into domestic currency.

On 30 March, the central bank announced measures to easy payment system transactions and liquidity conditions by: (i) lowering fees and charges for digital transactions through commercial banks, mobile banking and e-currency, for three months, and (ii) waiving specific provision on foreign currency loans, until 31 December. The central bank reduced the policy rate by 150 basis points to 11.25% on 16 April.

On 17 June, the Monetary Policy Committee of the Bank of Mozambique decided to reduce the monetary policy rate from 11.25% to 10.25%.

PFM policies, practices and procedures
15 April: The Government is monitoring prices of essential goods for preventing price gouging and redirecting the industrial sector toward the production of goods necessary for the prevention and mitigation of the Covid-19 pandemic.

15 April: Simplified licensing for the import of essential goods and total exemption from customs duties and miscellaneous taxes on imports of medicines and reagents, as well as, all the COVID-19 prevention material.

7 May: A committee with special powers to make resource allocation decisions has been created.

7 May: An exceptional public procurement regime has been announced for the purchase of urgent goods and services necessary to control and combat the pandemic.

15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.
Budget adjustments and healthcare allocations
On 2 April, to mitigate the impact of COVID-19, the Council of Ministers approved by Decree 12/2020, a set of fiscal measures to safeguard human life, public health and the functioning of services, which will be in force during the State of Emergency.

On March 27, the government increased the budget allocation for the health sector, from about MT2 billion (0.2% of GDP) to about MT3.3 billion (0.3% of GDP). Revenue measures to ease pressures on families and the health sector are being implemented.The overall fiscal deficit is expected to increase significantly in 2020 owing to lower revenues—resulting from lower activity and fiscal measures to support the private sector—and higher spending on health and social transfers to the poorest segments in society.
Transparency, accountability and participation
24 April: All acts relating to expenses in the context of combating Covid-19 will be publicly announced, to allow them to be scrutinised by Mozambican society and the international community. As part of its commitment to the IMF, the authorities will undertake independent audits of crisis-mitigation spending and related procurement processes once the pandemic abates and will publish the audited results. In the interim, they will publish the related large public procurement contracts and their beneficiaries.

28 June: Reports outlining all in-going and outgoing donations related to Covid-19 (both cash and in-kind) are gazetted to be published by the Ministry of Health in Mozambique.

Business support and tax measures
On 30 March, the President announced the need to adopt fiscal and monetary policy measures to support the private sector to address the economic impact of the pandemic.

30 March: Extension of the Decree on Exemption from Payment of Charges (Fines, Interest, tax enforcement) resulting from the delay in paying tax obligations until December 2020.

15 May: VAT exemptions for sugar, cooking oil and soap have now taken effect in order to alleviate pressures on consumers who have been impacted by Covid-19.

24 May: The National Institute of Social Security (INSS) will establish a MZN 600 million (USD 8.6 million) fund to alleviate the negative impact of the COVID-19 pandemic on small and medium enterprises (SMEs).

1 June: Mozambique's Council of Ministry has approved various tax measures, relating to the waiver of advance income tax payments during the state of emergency and the deferral of special advance payments (minimum tax). Further, taxpayers may offset VAT input credits against any other tax debts.
Financing social assistance and food relief
26 May: The government of Mozambique has requested food security support for 1 million vulnerable households to the effect of USD 20 million given the country's decreased food security due to Covid-19.

29 May: The EU, together with UNICEF, delivered 11 tons of medical supplies to Mozambique. These supplies include 145 000 masks, 30 000 medical overalls, 192 no-contact thermometers, and 600 pairs of goggles.

Namibia

Tests p/million
142
Confirmed cases
2949
Confirmed deaths
19
COVID-19: expected financing requirement
On 1 April, the government launched the 8 billion Namibian Dollar Economic Stimulus and Relief Package to mitigate the impact of COVID-19 (USD 425 million or 4.25 % of GDP).
Official COVID-19 links
http://www.mhss.gov.na/corona

Government health expenditure p/capita (PPP USD) (2017)
600
Government health expenditure of government expenditure (2017)
14%
Out-of-pocket expenditure of total health expenditure (2017)
7,72%
External health expenditure of health expenditure (2017)
14%

Domestic and external financing
25 April: The EU has donated 8.4 million Euros (approximately 0.06% of GDP) to Namibia as a means to assist with it's (Namibia's) response to Covid-19.

8 May: The UN country team in Namibia has re-programmed USD 3.725 million (0.03% of GDP) to minimise the impact of Covid-19 on public health and socio-economic wellbeing in Namibia.
Monetary and macrofinancial measures
The central bank reduced the policy rate by 100 basis points to 5.25 % on March 20.

On 26 March, the Bank of Namibia (BoN) introduced regulatory and policy relief measures to directly support individuals, small and medium-sized enterprises (SMEs) and corporations to manage the impact of the drought and the COVID-19 pandemic on business cash flows and continuity; as well as safeguard jobs. These include 6-24 months discretionary loan payment moratorium; relaxing of the Determination on Liquidity Risk Management on cash inflows and outflows for lenders; and reduction of the Capital Conservation buffers to 0% for 24 months to enable the financial sector to expand supply of credit to the economy.

On 15 April, the central bank reduced the policy rate by 100 basis points to 4.25%.

On 17 June, the central bank reduced the policy rate by 25 basis points to 4 % on (2.25% in total since the state of emergency was declared).

PFM policies, practices and procedures
15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

On 28 April, the president of Namibia suspended more than 20 provisions across various employment, criminal and price control acts due to the Covid-19 epidemic as a means to ease the transition through the economic impact related to the virus in the country. A full list of these changes can be found at https://www.tralac.org/documents/resources/covid-19/countries/3550-namibia-proclamation-state-of-emergency-covid-19-suspension-of-operation-of-provisions-of-certain-laws-and-ancillary-matters-regulations-28-april-2020/file.html.

On 27 May, the Namibian budget statement, as well as updates to the Namibian Appropropriation Bill and Expenditure Framework were tabled. In these documents, officials outlined the changes needed and being made by the fiscus in order to mitigate some of the economic impact of Covid-19 on the Namibian economy. A more detailed discussion of these documents can be found at https://mof.gov.na/budget.
Budget adjustments and healthcare allocations
On 1 April, the government launched the Economic Stimulus and Relief Package to mitigate the impact of COVID-19 (8 billion Namibian Dollars, or USD 425 million (4.25 % of GDP)), including i) expenditure measures of 2.2 bn (USD 123 million) for health, wage subsidies, and income grants; and ii) guarantees of up to 2.3 bn (USD 128 million) to support low interest loans for small and agricultural businesses, and individuals. The government called off the Independence Celebrations and reallocated the corresponding financial outlay to the fight against COVID-19.

27 May: An emergency budget reallocation frontloaded a further 727 million Namibian Dollars (USD 49 million or 0.3% of GDP) specifically into the healthcare sector in Namibia. This is in conjunction with an emergency budget which was made available to the Ministry of Basic Education, Arts and Culture of 600 million Namibian Dollars (USD 40 million or 0.26% of GDP). This was against a backdrop of a 14.3 percent decrease in expected revenue collection from 59.7 billion Namibian Dollars in the MTEF target document to 51.4 billion Namibian Dollars (from USD 4 billion to USD 3.4 billion or from 28 to 23% of GDP).
Transparency, accountability and participation
On May 27, the 2020/20201-2022/2023 Fiscal Strategy, the Development Budget for FY 2020/21, and the Government Accountability Report 2018/19 were presented along with the updated 2020/2021 budget. These documents outline various avenues through which the Namibian government will report throughout (and after) the Covid-19 financial crisis.

Business support and tax measures
30 April: Fast-tracked payment of overdue and undisputed invoices for goods and services provided to GRN to inject about N$800 million to businesses.

30 April: A 500 million Namibian Dollar (USD 29 million, or 0.2% of GDP) non-agricultural small business loan scheme to be disbursed through the Development Bank of Namibia (DBN) and a 200 million Namibian Dollar (USD 12 million or 0.09% of GDP) agricultural business loan scheme to be disbursed by the Agricultural Bank of Namibia.

30 April: Tax-back loan scheme for non-mining corporates capped at 470 million Namibian Dollars (USD 27 million, or 0.19% of GDP) and a tax-back loan scheme for individuals that are tax registered and paying (PAYE) guaranteed by the government to the tune of 1.1 billion Namibian Dollars (USD 63.8 million, or 0.44% of GDP)

7 May: Tax-back loan scheme for tax registered and tax paying (PAYE) employees and self-employed individual persons who have lost income or part thereof.

7 May: Taxpayers can borrow an amount equal to 1/12th of their tax payment in the previous tax year, to be repaid after one year. The interest rate will be favorably low at the prime lending rate less 1% on the back of a Government guarantee.
Financing social assistance and food relief
On 1 April, the Minister of Finance announced a new grant for people who were struggling as a result of the pandemic. Just over one week later – on Thursday 9 April – he announced details of the once-off Emergency Income Grant of N$750, to be paid to people aged 18-59 who had lost informal livelihoods or were already unemployed. People who had been formally employed but had lost their jobs would be supported through a separate scheme, through Namibia’s Social Security Commission. Applicants for Namibia’s Emergency Income Grant could registered by sending an SMS to a toll-free number and following a set of clear and simple instructions. Applicants did not need to use their own phones but they did need to use a Mobile Telecommunications Company (MTC) phone. Payment will be made within 7 days utilising the banking sector’s ATM infrastructure. The total amount for this measure is costed at a maximum of N$562.00 million.

15 May: Government will ensure that water points are kept open without a need for water cards during lockdowns, through NamWater and Local Authorities that will subsidize this critical service.

27 May: the National Employment and Salary Protection Scheme for Covid-19 was launched in collaboration with the Namibian Social Security Commission. Wage subsidies to the effect of 645 million Namibian Dollars (USD 43.3 million) have been committed to this scheme and are aimed at preserving the earning power of those most vulnerable in the labour market.

On 15 June, the government announced it will extend the deadline of submitting Individual Income Tax returns from end-June to end-September (not the payment of taxes due, which is still end-June).

29 June: Relaxation of labour regulations has been utilised to ensure the protection of jobs. Employers will be allowed to negotiate temporary decreases in salaries by 20% and 40% decreases for sectors that are worst-hit.

Niger

Tests p/million
183
Confirmed cases
1158
Confirmed deaths
69
COVID-19: expected financing requirement
A plan has been presented to donors with an estimated cost of USD 600 million (7.4% of GDP), divided into an immediate health response and broader economic and social mitigation.

May 7: This crisis plan was revised, and it is now expected to cost USD 1.5 billion (18.4% of GDP).

14 April: The cost of the riposte plan is estimated at CFAF 597 billion (USD 999 million or 7.6% of GDP). To be fully implemented, the plan requires significant amount of grants and concessional financial support from the international community as it will entail losses of domestic revenue and increases in public expenditure in favor of health and social programs.
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
15
Government health expenditure of government expenditure (2017)
5,69%
Out-of-pocket expenditure of total health expenditure (2017)
59%
External health expenditure of health expenditure (2017)
5,69%

Domestic and external financing
On 14 April, SDR 83.66 million (USD 114.9 million or 1.2% of GDP) was provided by the IMF through its Rapid Credit Facility.

Niger is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. Debt relief of USD 7.72 million (0.08% of GDP) has been provided.

On 15 April, the World Bank approved USD 13.95 million to prevent, detect and respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness in Niger. The IMF provided emergency funding of USD 114.5 million (or 0.15% of GDP) in addition to relief from its debt service.

28 April: The European Union has announced additional support to Burkina Faso, Chad, Mali, Mauritania, and Niger, of 194 million Euros. This comes after the EU pledged to mobilise 449 million Euros earlier on in April for the same 5 countries

18 May: The EU has granted Niger 31 million Euros (approximately 0.4% of GDP) as a means to assist against the economic impact of Covid-19 on the country.

10 May: UNICEF has begun the process of providing Niger with USD 17.4 million (0.2% of GDP) in an attempt to assist Niger in its Covid-19 response.

9 June: The African Development Bank has approved grant funding of USD 20 million in response to the economic impact of Covid-19 for Mauritania, Mali, Burkina Faso, Niger and Chad.

On 10 June: The UNHCR, in preparation of the revised COVID-19 Global Humanitarian Response Plan to be executed in the next 9 months, has earmarked USD 7.4 million (or 0.08% of GDP) for Niger.

29 June: The Niger government received a USD 25 000 grant from South Korea in light of the COVID-19 pandemic.
Monetary and macrofinancial measures
March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

March 25: Further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

7 May: As of April 30, the BCEAO launched a special 3-month refinancing window at a fixed rate of 2.5 % for limited amounts of 3-month "Covid-19 T-Bills" to be issued by each WAEMU sovereign to help meet funding needs related to the current pandemic.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
15 April: Establishment of removal credit facilities for any importer who wishes for a period of 15 to 90 days, subject to production of a bank guarantee.

On April 27, Heads of states of the West African Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU Growth and Stability Pact setting six convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member-countries cope with the fallout of COVID-19. This temporary suspension will allow member-countries to raise their overall fiscal deficit temporarily and use the additional external support provided by donors in response to COVID-19. The Heads of States’ Declaration sets a clear expectation that fiscal consolidation will resume once the crisis is over.

7 May: A committee with special powers to make resource allocation decisions has been created.
Budget adjustments and healthcare allocations
end-April: To fund the emergency response plan, 1 billion CFA (USD 1.6 million) from the national budget will be provided.

On 8 May, the cabinet approved a supplementary budget with 1.3 % of GDP in resources re-allocated to additional spending toward health, security and social assistance.

14 April: The fiscal deficit has been revised to 5% of GDP, compared to 2.7% of GDP previously projected.
Transparency, accountability and participation
14 April: When requesting assistance from the IMF, the government committed to refrain from crisis measures that would permanently damage the revenue base, maintain fiscal transparency by enshrining fiscal crisis measures in a supplementary budget, and centralise the costing and the keeping count of crisis measures at the Ministry of Finance.

Business support and tax measures
15 April: Exemption from VAT for the entire duration of lockdown for interurban land transport.
Postponement of the payment of the second installment tax for the transport sector to May 1, 2020 instead of March 1.
Application of a reduced rate of 10% in terms of VAT in the hotel sector.
Suspension of proceedings for the recovery of taxes and duties for three (3) months, ie until June 30, 2020 for travel agencies.
Suspension of collection of taxes for two (2) months from April 1, 2020 for bars and drinking places and sport and leisure sectors.
Application of a depreciation rate for buildings of 5% instead of 2% to take into account the importance of the capital invested in the hotel sector.
Exemption from duties and taxes on all taxed products which fall within the scope of the fight against the coronavirus.

7 May: Tax relief is being discussed with respect to businesses in the worst-impacted sectors within the economy of Niger.

29 June: The Finance Ministry also announced credit support to the private sector in the form of loan guarantees. The revised cost includes large-scale support for agricultural production, revenue shortfalls, and the building of liquidity buffers.
Financing social assistance and food relief
15 April: Two months of free utilities for vulnerable households and distribution of food from the strategic reserve will be provided. Reinforcement of the annual support plan to support vulnerable people (free distribution of food for the most deprived, sale at moderate price, etc.).

Since 23 April 2020, price controls for essential goods have been implemented for the period of Ramadan.

May 7: The state has provided 2 months of free utilities to vulnerable households

29 May: In order to assist in the health services effort, the government of Niger is funding the training of an additional 2 700 healthcare workers to ease the pressure on the healthcare sector currently.

Nigeria

Tests p/million
24
Confirmed cases
46577
Confirmed deaths
945
COVID-19: expected financing requirement
In March, it was estimated that to procure all needed equipment, material and infrastructure over N 120 billion (USD 308 million) would need to be raised.

By 6 April, approval had been given to create a USD 1.39 billion (roughly 0.35% of GDP) Coronavirus Crisis Intervention Fund to strengthen healthcare infrastructure.
Official COVID-19 links
https://covid19.ncdc.gov.ng/

Government health expenditure p/capita (PPP USD) (2017)
28
Government health expenditure of government expenditure (2017)
5,01%
Out-of-pocket expenditure of total health expenditure (2017)
75%
External health expenditure of health expenditure (2017)
5,01%

Domestic and external financing
In March, The Central Bank of Nigeria announced an intervention fund of N1.1 trillion (USD 2.5 billion or 0.6% of GDP). N1.0 trillion (USD 2.5 billion or roughly 0.55% of GDP) will be used to support local manufacturing to boost import substitution, while N100 billion (USD 250 million or 0.06% of GDP) will be used to support the health services sector and products. In addition, N900 billion (USD 2.3 billion- approximately 0.5% of GDP) will be made available to pharmaceutical companies through loan interventions to re-establish drug manufacturing firms. It is expected that through these interventions, about N3.5 trillion would be injected as stimulus to support the Nigerian economy during this trying time.

In April, Nigeria’s Central Bank launched a drive to raise N120 billion (USD 3 billion, or 0.8% of GDP) from the private sector to source equipment and infrastructure to fight the pandemic. As of 8 May, N28 billion (USD 72 million- approximately 0.02% of GDP) had been received under the Private Sector Coalition Against COVID-19 (CACOVID) Fund, domiciled at the CBN and the five COVID-19 donors in the Treasury Single Account (TSA) sub-accounts.

In April, Nigeria asked for USD 2.5 billion (roughly 0.55% of GDP) from the World Bank and USD 1 billion (a further 0.2% of GDP) from the African Development Bank.

As of 16 April, a USD 50 million (0.01% of GDP) grant had been approved by the European Union.

As of 28 April, the IMF has allocated a loan to Nigeria of USD 3.4 billion (0.9% of GDP).


29 May: An EU-IOM partnership seeks to mobilise just over 1 million Euros to alleviate the impact of Covid-19 on migrants/refugees in Burkina Faso, Cameroon, Guinea Bissau, Nigeria, and Senegal.

24 June: Contingency funds of N984 million (USD2.7 million, less than 0.01% of GDP) have been released to Nigeria’s Center for Disease Control, and an additional N6.5 billion (USD 18 million; also less than 0.01% of GDP) was distributed for purchasing more testing kits, opening isolation centers and training medical personnel. Grant of N10 billion (USD28 million or 0.01% of GDP) was released to the Lagos State to increase its capacity to contain the outbreak.

25 June: The Nigeria Solidarity and Support Fund was established, looking to raise USD 50 million to support physical infrastructure of healthcare centers in Local Governments and existing Social Investment Program.
Monetary and macrofinancial measures
The Central Bank of Nigeria (CBN) maintained its monetary policy rate in March but introduced measures, including:
(i) reducing interest rates on all CBN interventions from 9 to 5% and introducing a one-year moratorium on CBN intervention facilities;
(ii) creating a USD 139 million targeted credit facility; and
(iii) liquidity injection of 2.4% of GDP into the banking system to support the health and manufacturing sectors.
Regulatory forbearance was also introduced to restructure loans in impacted sectors.

21 May: The Monetary Policy Committee of Nigeria has rescheduled its original meeting until 28 May, where it will decide on further monetary policy responses to the economic impact of Covid-19.

On 29 May, The Central Bank of Nigeria (CBN) cut monetary policy rate to 12.5%. The CBN is also coordinating a private sector special intervention initiative targeting N120 billion (USD 333 million or 0.08% of GDP) to fight COVID-19.

PFM policies, practices and procedures
31 March: An Economic Sustainability Committee (ESC) has been established, chaired by the Vice President to come up with a plan to turn the current challenges from COVID-19 pandemic to real opportunities for Nigerians by setting the economy on a solid footing.


16 April: Import duty waivers for medicine and medical goods and pharmaceutical firms will be introduced.

On 5 May, The Minister of Finance was told to promptly liaise with the lawmakers to pass a supplementary budget for the utilisation of the funds based on estimated total collection for the year and it must detail the needs submitted by the affected line ministries together with estimated costs. Funds are to be appropriated directly to line ministries and spending units rather than to an intermediary. It is mandated that all collections into the commercial bank accounts should be swept into FGN Sub-Recurrent Account with the CBN. Only the Government Integrated Financial Management Information System (GIFMIS) is permitted to be used in making payment to necessary agencies in accordance with the laws, rules, and regulations, including those relating to the Public Procurement Act (subject to the guidance of the Bureau for Public Procurement).


7 May, the Accountant-General of the Federation had issued eight guidelines needed for the management of the COVID-19 Funds in Nigeria.

On 14 May, the Nigerian government discussed the passing of a "Control of Infectious Diseases Act" which, apart from placing more stringent containment measures on the Nigerian people, also increases the penalty to those who do not comply with the legislation. This is currently being debated in the Nigerian House of Representatives.

11 June: The existing budget reflects reallocations of budgetary appropriations requiring parliamentary approval as an expenditure measures used to finance COVID-19 related expenses. The government has also amended their PFM rules and processes to ensure rapid delivery of COVID-19 related goods and services through the creation of a special COVID-19 budget line. Borrowing programmes have been adjusted in order to bridge pandemic related financing needs and ensure increased cash management efficiency, and liquidity.

11 June: Two committees have been formed in order to increase coordination between finance ministries/ budget offices and other relevant line ministries at subnational and central government levels: (i) a Crisis Management Committee, headed by the Minister of Finance, Budget and National Planning; (ii) an Economic Sustainability Committee.

11 June: The Ministry of Finance, following containment policies, has ensured business continuity through the use of virtual networks, submission of invoices by email, and streamlined security checks.

11 June: As an efficiency and cost-effectiveness measure introduced into the healthcare financing and purchasing process, insurance for frontline healthcare workers has been provided.

25 June: The Economic Sustainability Committee set up by President completed a response plan that recommends directing oil companies and oil service companies to sell foreign exchange to the CBN rather than the state oil corporation (NNPC) to improve foreign exchange supply.
Budget adjustments and healthcare allocations
On 27 March, the Federal Government released a grant of USD 26 million to Lagos State to increase its capacity to respond to COVID-19 outbreak.By 6 April, the government had provided 102.5 billion naira (USD 285 million) to support the healthcare sector. USD 21 million of this was from contingency funds released to Nigeria’s Center for Disease Control to equip, expand and provide personnel to its facilities and laboratories across the country.

By 24 April, announced plans to cut/delay non-essential capital spending by USD 4.4 billion (1 % of GDP).

On 7 April, The House of Representatives, an arm of Nigeria’s National Assembly, passed the Emergency Economic Stimulus Bill to boost Nigerian economy given the debilitating effect of COVID-19.

16 April: A N500bn COVID-19 crisis intervention Fund has been set up on budget to cover costs of much needed health equipment and medicine, as well as shore up the economy through public works programs.

By 23 April, it was decided in view of the current challenges facing the Federation, and highly uncertain revenue profile in the immediate future, to distribute N661.427 billion (USD 1.7 billion) only and save N119.550 billion (USD 306 million) in the Excess Oil Revenue Account.

25 June: The government is reviewing its 2020 budget and, given the expected large fall in oil revenues, announced plans to cut/delay non-essential capital spending by N1.5 trillion (close to 1 % of GDP).
Transparency, accountability and participation
5 May: The National Assembly asked that funds not be disbursed until after appropriation.

13 May: The Office of the Accountant-General of the Federation must publicise daily, all inflows and outflows for the funds, and the statement must show the source of the outflow. All line ministries were also urged to publish detailed reports of their activities relating to COVID-19 Funds on their websites at the end of every week, while a Monthly Budget Performance Report shall be published on the Open Treasury Portal not later than 14 days following the end of the month. The last condition is that two weeks after the end of the pandemic, a comprehensive report of all receipts and payments shall be published on the OAGF Transparency Portal as well as other government websites, including those of the Federal Ministry of Finance, Budget and National Planning and Secretary to the Government of the Federation and OAGF.

21 May: Together with the IMF, the authorities have committed to: (i) strengthening the role of the Federal Audit Board in combating corruption and the asset-declaration framework; (ii) fully implementing the risk-based approach to AML/CFT supervision while ensuring the transparency of beneficial ownership of legal persons; (iii) creating specific budget lines to facilitate the tracking and reporting of emergency response expenditures and report funds released and expenditures incurred monthly on the transparency portal (http://opentreasury.gov.ng/); (iv) publishing procurement plans, procurement notices for all emergency response activities—including the name of awarded companies and of beneficial owners—on the Bureau of Public procurement website; and (v) publishing no later than three to six months after the end of the fiscal year the report of an independent audit into the emergency response expenditures and related procurement process, which will be conducted by the Auditor General of the Federation.

5 June: CSOs have been asked to help provide information to citizens about support policies and how to monitor them.

11 June: To ensure increased transparency and accountability with regards to COVID-19 financing and expenditure the following measures have been implemented; (i) all COVID-19 contracts are published; (ii) Internal audits are being conducted more frequently; and (iii) A supervisory committee for COVID-19 funding has been established.

6 August: Nigeria has built a portal to facilitate transparent procurement. NOCOPO (Nigeria Open Contracting Portal), which is still in its infancy, has a specific Covid-19 procurement page where all pandemic-related contracts are listed. This has allowed journalists and citizens to analyse the details of such contracts and improve public knowledge and awareness of the government’s response to the pandemic. NOCOPO was created through partnerships with Nigerian civil society.

Business support and tax measures
16 April: A temporary fiscal support package—not yet fully costed—is expected to provide relief for taxpayers and incentivize employers to retain and recruit staff during the downturn, through measures such as income tax relief equal to a 50% rebate on payroll tax for their employees.

16 April: Electricity tariff increases – planned for April 2020 – have been postponed to July. In line with lower international oil prices, regulated fuel prices have been reduced, fuel subsidies eliminated, and an automatic fuel pricing formula has been put in place to ensure fuel subsidies do not reemerge.

25 June: A fiscal stimulus package, in the form of a COVID-19 intervention fund of N500 billion (USD1.4 billion, or 0.35% of GDP), has been approved by the President to support healthcare facilities, provide relief for taxpayers and incentivize employers to retain and recruit staff during the downturn. Import duty waivers for pharmaceutical firms will be introduced.
Financing social assistance and food relief
End-March: A 3-month moratorium on mobile money.

End-April: Commenced cash transfers to poorest households to cushion effect of the pandemic. Conditional cash transfers for two months have been made available and displaced people will receive two months of food rations. Beneficiaries are those whose bank account balance is less than N5,000 and who recharge their phones with not more than N100.

End-April: Relief material is being provided to communities around Abuja and school feeding schemes will be sustained. 70,000 Metric Tonnes of Grains from Nigeria’s National Strategic Grain Reserves, for distribution to poor and vulnerable persons in frontline COVID19 States, as well as persons whose livelihoods will be affected by the lockdown.

End-April: The CBN created a N50 billion fund to support households and SMEs affected by COVID-19; introduced credit support for the healthcare sector.

End-April: The Association of Nigerian Electricity Distributors (ANED) has aligned with the federal government to provide a two-month period of free electricity supply to all customers nationwide.

14 May: The Covid-Nigeria Solidarity Support Fund aims to crowd-fund USD 50 million (roughly 0.02% of GDP) in an effort to support Covid-19 relief efforts in Nigeria.

25 June: Regulated fuel prices have been reduced, and an automatic fuel price formula introduced to ensure fuel subsidies are eliminated. The President also ordered an increase of the social register by 1 million households to 3.6 million to help cushion the effect of the lockdown.

Republic of the Congo

Tests p/million
Confirmed cases
3664
Confirmed deaths
58
COVID-19: expected financing requirement
15 April:the overall cost of the response plan to the COVID-19 epidemic has been estimated at 100 billion XAF (USD 135 million) (1.6% of GDP) to (i) strengthen early detection and surveillance and foster technical and operational coordination within the government; (ii) improve the quality of medical care to infected patients; and (iii) develop effective preventive communication strategies and enhance medical logistic platforms.


20 May: The overall cost of the response plan to the COVID 19 epidemic has been estimated at USD 170 million (100 billion XAF), equivalent to 1.6% of 2020 GDP, to date the government has made available to the Ministry of Health the amount of USD 1.4 million. The EU, WFP, France are getting together to provide support for the poorest segments of the population with combined support amounting to about 3 billion XAF as of now.
Official COVID-19 links
As of 7 April, government websites had not been updated to include COVID-19 responses

Government health expenditure p/capita (PPP USD) (2017)
111
Government health expenditure of government expenditure (2017)
3,92%
Out-of-pocket expenditure of total health expenditure (2017)
50%
External health expenditure of health expenditure (2017)
3,92%

Domestic and external financing
The EU, WFP, France are getting together to provide support for the poorest segments of the population with combined support amounting to about 3 billion XAF (USD 5 million, or 0.04% of GDP) as of now.

On 23 April, the World Bank approved USD 11.3 million (roughly 0.1% of GDP) in financing from the International Development Association (IDA) to help the Republic of the Congo fight COVID-19 (coronavirus) and respond to public health emergencies.

Congo is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust.

10 April: The European Union will support the Congolese government's response plan against the coronavirus, with approximately CFAF 2.3 billion (USD 1.7 million, or approximately 0.01% of GDP).
Monetary and macrofinancial measures
On March 27, 2020, BEAC announced a set of monetary easing measures including a decrease of the policy rate by 25 bps to 3.25 %, a decrease of the Marginal Lending Facility rate by 100 bps to 5 %, a suspension of absorption operations, an increase of liquidity provision from FCFA 240 to 500 billion (USD 395 to 823 million) , and a widening of the range of private instruments accepted as collateral in monetary operations. The MPC also supported BEAC’s management’s intent to propose to reduce haircuts applicable to private instruments accepted as collateral for refinancing operations, and to postpone by one-year principal repayment of consolidated central bank’s credits to member states, but these possible additional measures are not effective yet. On March 25, 2020, the COBAC informed banks that they can use their capital conservation buffers of 2.5% to absorb pandemic-related losses but requested banks to adopt a restrictive policy with regard to dividend distribution. Discussions are taking place at the country level on whether private companies can have access to the 100 billion XAF fund set up by the President and on simplifying access to refinancing instruments. A guarantee scheme has been set up to help private companies service their banking debts, but no details have been provided on the amounts or conditions.

On 24 June, CEMAC decided on the interest rate for tenders (3.25%), the marginal loan facility rate (5%), and the reserve rates (7% on compulsory reserves, and 4.5% on short-term requirements).

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
At 27 March, the government has made USD 1.4 million available to the Ministry of Health.

23 April: The government of Congo has adopted an amended finance bill of CFA 1083 billion (USD 1.8 Billion) against CFA 2175 billion (USD 3.6 billion) for the initial finance law. The decline in the national budget is correlative to that of fiscal revenues which fell by 58.9%, from CFA864 to CFA 355 billion (from USD 1.4 billion to USD 600 million). It is also motivated by the drop in other revenues by 52.69 %, which declined from CFA1228 to CFA 581 billion (from USD 2 billion, to USD 970 million), that of 55.30% of oil revenues which dropped from CFA1188 to CFA 531 billion (from roughly USD 2 billion to USD 880 million) and that of fees and administrative costs which decreased by 49.4%. The amended budget reprioritises the country's response to the COVID-19 crisis through a health and economic intervention. A CFA 25 billion (USD 44 million or 0.4% of GDP) initial endowment has been provisioned for the COVID-19 fund and an additional CFA 110 billion ( USD 192 million or 1.74% of GDP) will be reallocated for the rehabilitation of basic hospitals and the improvement of the health supply, which will result in the completion of two general hospitals.
Transparency, accountability and participation
From April 1, 2020 suspension for two (2) months, all tax audits including on-site inspections or documentary checks, general accounting checks. As a result, all response or prescription periods are postponed accordingly. If necessary, this period may be extended depending on the evolution of the health emergency situation.

Business support and tax measures
30 April: Penalty free extension, till June 19, 2020 for the declaration and payment of the 2020 Business tax.

20 May: The government has adopted some measures to ease tax and duty payments for private enterprises. In particular, more time has been given to companies to pay their taxes and tax assessments on site have been abandoned. The import duty directorate is also strongly encouraging electronic payment of dues and allowing more electronic documents to be accepted at the port. Corporate income tax has been reduced to 28 percent from 30 percent and the turnover tax has been reduced to 5 percent from 7 percent for small businesses with turnover below 100 million XAF.
Financing social assistance and food relief
15 April: Penalty free extension until March 27 2020 for the payment of the taxes due earlier in the month.

25 May: 100, 000 families affected by COVID-19 to receive around 50 000 CFA each (around 5 billion CFA).

25 May: 16, 000 people chiefly elderly, children and student will receive food and hygiene packages.

25 May: Communication packages on covid-19 and hygiene materials have been distributed (the cost is over 200 million CFA).

22 April:
Free water and electricity for all households during the confinement period.

Financial aid of 4 billion FCFA (USD 2.2 million) granted to households and people experiencing poverty.

Rwanda

Tests p/million
482
Confirmed cases
2140
Confirmed deaths
7
COVID-19: expected financing requirement
As of 7 May, the government’s emergency response plan, including scaled-up health spending, is estimated at about USD 350 million (3.3 % of GDP). USD 25 million of this is for health spending, of which only USD 5 million is available.

3 April: The authorities project the total cost of the Pandemic to amount to 3.4% of GDP over the next two years, including both revenue losses and increases in public spending—1.9 and 1.5% of GDP, respectively.
Official COVID-19 links
https://www.rbc.gov.rw/index.php?id=707

Government health expenditure p/capita (PPP USD) (2017)
44
Government health expenditure of government expenditure (2017)
8,88%
Out-of-pocket expenditure of total health expenditure (2017)
6,38%
External health expenditure of health expenditure (2017)
8,88%

Domestic and external financing
On 2 April, SDR 80.1 million (USD 104 million- 1.09% of GDP) was provided by the IMF through its Rapid Credit Facility.

On 7 April, the World Bank Group approved a USD 14.25 million (approximately 0.15% of GDP) International Development Association credit in immediate funding to support Rwanda’s COVID-19 Emergency Response project.

By 24 March, the UNDP had provided USD 1.68 million with intentions to mobilise an additional USD 1 million (both less than 0.01% of GDP).

Rwanda is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust. Debt relief of USD 10.96 million (0.01% of GDP) had been provided by 13 April.

In April, it was announced that all cabinet members, permanent secretaries, Heads of institutions and other senior Government officials shall forfeit one month's salary.

On 4 May a financing agreement was signed with the World Bank worth USD 100 million (1.05% of GDP) to support Rwanda’s COVID-19 response in energy. This is part of the World Bank’s existing three-year financing support towards the country’s energy sector, worth USD 375 million.

29 June: The IMF has approved an additional disbursement of SDR 80.1 million (USD 111.06 million or 1.1% GDP) under the Rapid Credit Facility (RCF). This brings the total IMF COVID-19 emergency support to Rwanda to USD 220.46 million (2.3% of GDP).

29 June: The government of Rwanda has set up a USD 100 million (roughly 1.05% if GDP) COVID-19 relief fund.
Monetary and macrofinancial measures
Rwanda’s Central Bank announced measures to mitigate the economic impact of Covid-19. These include: introducing the extended lending facility of roughly $52 million, which commercial banks with liquidity challenges can borrow from at the central bank rate, lowering reserve requirement ratio effective April 1 from 5 to 4% to allow banks more liquidity to support affected businesses, allowing banks to restructure outstanding loans of borrowers facing temporary cash flow challenges arising from the pandemic, and allowing banks to restructure outstanding loans of borrowers facing temporary cash flow challenges arising from the pandemic.

The use of digital channels and contactless mobile payments is being encouraged. Commercial banks have agreed to reduce or eliminate charges on most transactions.

On 30 April, the Central Bank cut the policy rate by 50 basis points to 4.5 %.

29 June: Treasury bond purchases through the rediscount window for the next six months as a liquidity support measure undertaken by the central bank.

PFM policies, practices and procedures
On 30 April, cabinet approved the Social and Economic Recovery Plan to support economic activities affected by COVID-19.

30 June: In response to COVID-19, payment processes have been streamlined and digitalised. Prior to COVID-19, payments were prepared in the IFMIS and supporting documents were printed and physically signed by the chief budget manager and head of finance, following which they were manually carried to treasury. Following COVID-19 entities prepare payments, can and upload supporting documents into IFMIS, the head of finance and chief budget manager approve in IFMIS and the approval is sent electronically to treasury for approval and payment at the Bank of Rwanda.
Budget adjustments and healthcare allocations
3 April: Public health and social spending initiatives will be further prioritized in the current and FY 20/21 budget.

21 May: The Rwandan mid-term budget was discussed, suggesting that expenditure would be higher than originally anticipated- moving from an original estimate of Frw 3 017.1 (USD 3.15 billion) to Frw 3 245.7 billion (USD 3.4 billion, or approximately 36% of GDP). It is expected that a more detailed breakdown of adjustments will follow once the mid-term budget is completed.

29 June: While there has been a decrease in tax revenue due to the COVID-19 pandemic, the 2020/2021 budget has increased by 7.5%. The 2020-21 budget will be financed through domestic resources of Frw 1,969.8 billion (USD 2 billion or 24% of GDP) representing 60.7% of the entire budget. The remainder of the budget will be funded through external sources. 40% of the entire budget will be spent on development projects. The government allocated Rwf243.3 billion (USD 255 million or 2.7% of GDP) towards accelerating transport projects. This includes construction, rehabilitation and upgrade of national roads.Under the approved budget, the national carrier RwandAir whose operations have been adversely affected by COVID-19 will be financed at Rwf145.1 billion (USD 152 million or 1.5% of GDP). The government also allocated a significant share of the funds to the education and health sectors, with each sector getting Rwf 492 billion (USD 517 million or 5.4% of GDP) and Rwf 261.1 billion (USD 275 million or 2.9% of GDP) respectively.
Transparency, accountability and participation
8 June: To ensure that the Economic Recovery Fund is managed accountably, a Technical Steering Committee will govern the fund. It will review the performance of the Fund on a monthly basis and report to the Economic Recovery Fund High Level Steering Committee of Ministers, NBR Governor and CEOs.

11 June: As part of its commitment to the IMF, the Government will publish names of companies awarded contracts; publish costs of procured products and services; publish bids; and conduct COVID-19 specific audit and publish results.

Business support and tax measures
On 8 April, the Rwanda Revenue Authority announced an extension of the deadlines for submitting tax returns and remitting payment of corporate income tax for financial year 2019 in response to COVID-19.

As of 30 April 2020, Support to firms is envisaged in the form of subsidized loans from commercial banks and is expected to target SMEs and hard-hit sectors such as the hospitality industry. The salaries of top civil servants for the month of April will be redirected to welfare programs. Tax relief measures include the suspension of down payments on outstanding tax for amicable settlement and the softening of enforcement for tax arrears collection. The deadline for filing and paying corporate income tax has been extended, and VAT refunds to SMEs are being fast-tracked. The 30-day maturity period for the public health insurance scheme premium was removed.

19 May: The National Bank of Rwanda (BNR) instructed commercial banks to ease loan repayment schemes specifically as they pertain to businesses in the country.

29 June: Tax relief measures have been extended to include VAT exemption for locally produced masks.

23 June: The government has decided to extend support to 550 SMEs to help them recover as announced in the 2020/2021 budget. They will receive business advisory services and 50 SMEs and cooperatives will be trained in e-commerce skills. The Government’s initiative to support domestic production of goods and services will receive Rwf 7 billion (USD 7.35 million or 0.07%).
Financing social assistance and food relief
As of 30 April 2020, support to vulnerable households takes the form of regular in-kind transfers of basic food stuffs (door-to-door provision of rice, beans, and flour every three days) and cash transfers to casual workers who lost their jobs. Food relief is drawn from the country’s National Strategic Grain Reserve under the Ministry of Agriculture and Animal Resources.

25 May: The Government of Rwanda is making following adaptations in the existing cash transfers, which will also include expansion in the coverage to additional 56,000 families: temporary waiver of work requirements for public work beneficiaries to ensure continuity of cash transfers while social distancing protocols are in place in the country, expansion in the coverage of Direct Support unconditional cash transfers to additional families with old age, disability, and critical illness, vertical expansion of the Nutrition Sensitive Co-responsibility Cash Transfers to include more poorer households.

25 May: The Government of Rwanda is capitalizing on its well-established decentralized structures to implement the Social Protection response, starting with in-kind distribution of food and other essential items to 20,000 families. Beneficiaries are identified by the local level administrative committees at the lowest local administrative entity known as “isibo” which covers 15-20 HHs. HHs in need of food can as well self-report to any committee member by calling them directly or dialing a dedicated toll-free number. Verified list of beneficiaries moves up to the central level and accordingly food and other essential items are distributed down through different administrative levels (District-Sector-Cell-Village-Isibo).

29 June: Tax relief measures have been extended to include PIT exemption for private school teachers, tourism, and hotel employees earning less than RWF 150,000 (USD) per month.

23 June:The government dedicated Rwf129.2 billion (USD 135 million or 1.4% of GDP) under the next fiscal budget to scale up coverage of programmes designed to support vulnerable households.

Sao Tome and Principe

Tests p/million
87
Confirmed cases
878
Confirmed deaths
15
COVID-19: expected financing requirement
21 May: Fiscal gap associated with the impact of COVID-19 is estimated at USD 17 million (4.2% of GDP); however a contingency plan is costed at USD 3 million, to protect the population from the virus.
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
79
Government health expenditure of government expenditure (2017)
7,45%
Out-of-pocket expenditure of total health expenditure (2017)
14%
External health expenditure of health expenditure (2017)
7,45%

Domestic and external financing
On 2 April, the World Bank approved a USD 2.5 million (or, 0.6% of GDP) International Development Association grant to assist the government of São Tomé and Príncipe in responding to the threat posed by the COVID-19 pandemic.

In April, UNDP announced a contribution of USD 1.85 million (approximately 0.4% of GDP) to the National COVID-19 pandemic.

São Tomé and Príncipe is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust

As of the 21st of April, the IMF has loaned São Tomé and Príncipe USD 12.29 million (roughly 3% of GDP) as part of its rapid credit facility.

26 June: The African Development Bank has offered a grant to São Tomé & Príncipe of USD 683 000 (0.2% of GDP) to assist in the nation's response to Covid-19.
Monetary and macrofinancial measures
The Central Bank of São Tomé and Príncipe has launched a series of measures to mitigate the effects of COVID-19, including a drop in the rate of the marginal lending facility from 11% to 9.5% and the reduction of “minimum cash reserves from 18% to 14% in national currency and 21% to 17 % in foreign currency. Reduction in the central bank's key rate (liquidity facility facility fees).

PFM policies, practices and procedures
On 6 May, the government of Sao Tome and Principe put into practice Law 6/20, which suspended all deadlines for the execution of public works, provisions of public services, and judicial proceedings.
Budget adjustments and healthcare allocations
Transparency, accountability and participation
21 April: The government will issue a decision to publish large public procurement contracts once signed and the ex-post validation of delivery of these contracts, as well as publish monthly COVID-19 related expenditure. In addition, the COVID-19 related spending will be audited after the crisis. Crisis-mitigation measures have been authorised by Parliament, and a revised budget will be sent to Parliament when conditions allow. The authorities will also submit to Parliament a government decree on the revised budget. As part of its support, the IMF has requested budgetary execution and expenditure plans, with COVID-19 related spending, each month.

Business support and tax measures
Support for companies experiencing difficulties due to the COVID 19 pandemic, through tax incentives
30% drop in wages in the indirect administration and business sectors, directly impacted by the drop in income, in order to avoid dismissal, given the drop in activity.
Granting of a credit line, guaranteed by the State, to the tourism, hotel, catering, agriculture and processing sectors.
Exemption from default interest and other legal additions to tax and parafiscal debts accumulated during the state of emergency or which, having been accumulated over the previous period, are notified during the state of emergency, for companies.

May 15: The government of Sao Tome and Principe has now made provisions to further extend the period for fulfilling all debts and tax accruals to the tax authorities in the country.
Financing social assistance and food relief
On 29 March, the government's emergency response plan, including support to approx. 20,000 vulnerable households, started in the form of regular in-kind transfers of basic foodstuffs (door-to-door provision of rice, beans, and flour every three days).

15 April: Introduction of mechanisms allowing the payment of water and electricity consumption bills, electronically.

15 April: Allocation of compensation to affected workers, the value of which can be supplemented by the employer, to keep the employee and not dismiss him, for the tourism sector.

Senegal

Tests p/million
Confirmed cases
11175
Confirmed deaths
232
COVID-19: expected financing requirement
A strategic health plan to fight against COVID-19 is expected to cost FCFA 70 billion (USD 115 million) to i) enhance testing and treatment capacity, ii) strengthen preventive measures, and iii) intensify communication.

A FORCE COVID-19 fund has been established of up to FCFA 1000 billion (7% of GDP), to be financed by a mix of donor contributions, voluntary donations from the private sector, and the budget.
Official COVID-19 links
https://covid19.sec.gouv.sn/

Government health expenditure p/capita (PPP USD) (2017)
48
Government health expenditure of government expenditure (2017)
6,15%
Out-of-pocket expenditure of total health expenditure (2017)
51%
External health expenditure of health expenditure (2017)
6,15%

Domestic and external financing
On 13 April, SDR 215.73 million was provided by the IMF through its Rapid Financing Instrument and SDR 107.87 million through the Rapid Credit Facility.

On 2 April, the World Bank Board of Executive Directors approved a USD 20 million (roughly 0.1% of DP) credit from the International Development Association to support Senegal in its response to the threat of the global COVID-19 pandemic. It complements the additional support provided under the existing Regional Disease Surveillance Systems Enhancement (REDISSE) project to strengthen health systems and disease surveillance as part of the national COVID-19 response plan.

On 7 May 2020, the government has allocated FCFA 71 billion (USD 123 million, or 0.5 % of GDP) to improve testing, treatment, and prevention. This was coupled with an IMF approved emergency funding of USD 442 Million (approximately 1.8% of GDP).

25 May: USD 97 million (approximately 0.4% of GDP) loan approved as emergency budget support for Senegal to tackle Covid-19 from the African Development Bank

29 May: An EU-IOM partnership seeks to mobilise just over 1 million Euros to alleviate the impact of Covid-19 on migrants/refugees in Burkina Faso, Cameroon, Guinea Bissau, Nigeria, and Senegal.

31 May: The AfDB has approved 88 million Euros (0.4% of GDP) of emergency funding for Senegal in order to support its effort against Covid-19.

29 June: The World Bank approved a half in grant and half in credit financial boost of USD 100 million (or approximately 0.4% of GDP) to suppose Senegal in its response to contain the pandemic.
Monetary and macrofinancial measures
March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

On March 25, further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

In March, to promote the use of electronic payment tools, the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%.

PFM policies, practices and procedures
In April, a COVID-19 growth and economic watch committee was established.

16 April: Accommodate a widening of the fiscal deficit to 5.6% of GDP, prioritize health spending and containment efforts, and provide targeted support to vulnerable households and firms. Develop a plan to bring the deficit back to at least 3% of GDP once the crisis abates.

On 27 April, heads of states of the West African Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU growth and stability Pact setting six convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member-countries cope with the fallout of the Covid-19 pandemic, allowing member countries to raise fiscal deficits temporarily.
Budget adjustments and healthcare allocations
4 April: As part of the Economic and Social Resilience Program 64.4 billion CFA (USD 111 million, or 0.46% of GDP) has been allocated to cover all the expenses related to the response against COVID-19.

4 April: Budget cuts on operating expenses and deferred investments; which corresponds to a saving of 159 billion CFA (approximately USD 275.5 million, or 1.1% of GDP). In addition, the government will secure CFA 178 billion (roughly USD 280 million, or 1.2% of GDP) to partially cover losses in budget revenue caused by the crisis.

16 April: The authorities are prioritizing expenditures to the health sector and the most vulnerable households and sectors, while savings of about CFAF 125 billion (USD 208 million or about 1% of GDP, excluding savings related to the oil price decline) are being considered on non-essential current and capital expenditures, with the latter likely to be hit by the COVID-19 induced reduction in imports and mobility.
Transparency, accountability and participation

Business support and tax measures
The government intends to adopt tax measures, providing some general tax relief and targeted support to the most affected sectors (hotels, restaurants, transport and culture).

CFA 302 billion (USD 480 million- 2% of GDP) will be spent on payment due to suppliers to the state.

CFA 100 billion (USD 160 million or 0.8% of GDP) will be specifically dedicated to the direct support of the sectors of the economy hardest hit by the crisis, in particular transport, hotels, but also agriculture. Similarly, in relation to the financial sector, the State will set up a financing mechanism up to 200 billion, accessible to the affected companies, according to a streamlined procedure.

The State will reimburse the VAT credits in shortened time frames to return cash to businesses. Tax rebates and suspensions will be granted to companies which undertake to keep their workers in activity for the duration of the crisis, or to pay more than 70% of the wages of employees laid off during this period.

Small and Medium-Sized Enterprises, and companies operating in the sectors most affected by the pandemic, in particular tourism, catering, hotels, transport, education, culture and the press will benefit from a deferral of taxes until July 15, 2020.

There will be an extension of the deadline for payment of the suspended VAT collected by customs and tax services from 12 to 24 months; which represents a deferral of payment of 15 billion on the year 2020.

The State will suspend the collection of tax and customs debts from the companies most affected by COVID-19. In return, they will have to undertake to maintain the salaries of their employees or to pay more than 70% of the wages of employees laid off.

27 April: Instead of a VAT rate decrease which was discussed as a means to bolster the economy during the Covid-19 pandemic, Senegalese legislation has now been passed which speeds up the claiming of VAT credits.

2 June: The Islamic Trade Finance Corporation (ITFC) has provided an 8 million Euro disbursement to Senegalese businesses as a means to bolster the private sector during the Covid-19-led economic situation.

29 June: Other tax measures include the possibility for both people and companies to make gift tax deductibles when they contribute to the COVID-19 Fund. The government has also contributed FCFA 70 billion (USD or % of GDP) to a credit guarantee fund, which is to provide direct support to hard-hit industries such as tourism and transport.
Financing social assistance and food relief
By 30 April, it was announced that the State will cover the following expenses:
CFA 15.5 billion (USD 25 million), for the payment of electricity bills of households subscribing to the social bracket, for a two-month period; or approximately 975,522 households;
CFA 3 billion (USD 4.8 million), to cover the water bills of 670,000 households subscribed to the social band, for a two-month period;
CFA 69 billion (USD 111 million) , instead of the 50 billion initially planned, for the purchase of food for the benefit of one million eligible households. This includes one-off distribution of food kit of basic necessities (pasta, rice, soap, sugar);
CFA 12.5 billion (USD 20 million) , to help the diaspora.

30 April: The government is supplementing nurses' salaries.

16 May: The government of Luxembourg has offered a subsidy of FCFA 150 million (USD 255 000) to TVET institutions and potential TVET graduates as a means to supplement mask-making efforts in the country whilst simultaneously providing practical knowledge improvements amidst Covid-19.

Seychelles

Tests p/million
Confirmed cases
126
Confirmed deaths
COVID-19: expected financing requirement
Official COVID-19 links
http://www.health.gov.sc/

Government health expenditure p/capita (PPP USD) (2017)
1077
Government health expenditure of government expenditure (2017)
10%
Out-of-pocket expenditure of total health expenditure (2017)
2,08%
External health expenditure of health expenditure (2017)
10%

Domestic and external financing
End-March: The budget amendment will be financed by a considerable amount of debt. The Central Bank will offer the Government an advance at 0% interest, in view of the force majeure situation. Together with the Central Bank, a Bond will be put on the market. Government will also keep on publishing its weekly Treasury bills to finance its short-term expenses, and presence in the financial market.

21 May: The government intends to substantially increase external borrowing in 2020 to finance the wide financing gap opened by the COVID-19 pandemic without straining the domestic financial sector.

End-April: USD 7 million (approximately 0.44% of GDP) will be taken from the World Bank under the ‘Catastrophe Deferred Drawdown’, or ‘Cat DDO’, signed in 2013. This is a ‘contingent credit line’ that allows Seychelles to have immediate liquidity, following a disaster. Seychelles qualifies for a loan equivalent to 0.1% the country's GDP, which amounts to approximately USD 2.5 million (roughly 0.16% of GDP). They will also take a facility of approximately USD 47 million (3% of GDP)with the World Bank under other products offered by the bank.

end-April: Seychelles will receive 50% of its IMF SDR quota, which is equivalent to USD 15.4 million (1% of GDP)

end-April: Seychelles will tap into its USD 9 million (or, 0.5% of GDP) budgetary support facility with the AfDB.

8 May: The Seychelles will now have access to the full IMF SDR quota of SDR 22.9 million (or, USD 31.2 million, which translates to 2.1% of GDP).

21 May: The government will seek another USD 40 million of external budget support. The government also plans to resort to the Central Bank of Seychelles (CBS) advances (SCR250 million, half of the maximum amount stipulated in the CBS Act) and issuances of government securities to commercial banks and other private sector (about 2.25% of GDP, or USD 39.8 million). The remaining fiscal gap for the COVID-19 related spending in the supplementary budget will be financed through the issuing of domestic debt.

29 June: The African Development Bank extends SCR (USD10 million or 0.55% of GDP) loan to support the short-term Seychelles Crisis Response Budget Support policy, in light of the reopening of the economy.
Monetary and macrofinancial measures
The Central Bank of Seychelles (CBS) reduced the policy rate by 100 bps to 4 % on March 23. On the same day, it announced that a credit facility of approximately $36 million will be set up to assist commercial banks with emergency relief measures to assist businesses and individuals struggling with the financial impact of the pandemic. The CBS also announced that commercial banks, the Development Bank of Seychelles (DBS) and the Seychelles Credit Union have agreed to consider a moratorium of six months on the repayment of principal and interest on loans to assist businesses in impacted sectors. The six-month moratorium may also apply to individuals. Through its communication, the CBS reassured that it will continue to monitor potential market stress and any emerging risks to the financial sector and the economy, and that it stands ready to take appropriate actions to ensure that the local banking system remains financially and operationally resilient to support the economy.

29 June: The National Assembly has allowed the Central Bank to provide; (i) a limited credit to government up to SCR 500 million (USD 28.5 million or 2% of GDP), preferably through purchase of securities, and subject to central bank Board approval; and (ii) extending the maturity of credit to commercial banks to 3 years. The CBS is also considering easing reserve requirements.

PFM policies, practices and procedures
15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.

7 May: A committee with special powers to make resource allocation decisions has been created.

22 June: The government has adjusted their PFM rules and processes by allowing existing budget lines to be used for COVID-19 expenditure with the goal of ensuring rapid delivery of pandemic related goods and services, this includes the emergency recruitment of healthcare workers, as well as the emergency meetings held for all cash management committees in order to ensure efficient cash management and greater liquidity during the pandemic.

22 June: The following expenditure measures used to finance COVID-19 related expenses; (i) Virements within a line ministry’s approved budget; (ii) Reallocations of budgetary appropriations requiring parliamentary approval; (iii) Reprioritisation of expenditure between annual budgets; (iv) Across-the-board cuts to capital and recurrent expenditure; (v) Authorising ministries to use existing savings on COVID-19 needs; (vi) Channelling funds from contingency appropriations in the approved budget; as well as (vii) Other expenditure measures that extend towards freezing certain types of expenditure.
Budget adjustments and healthcare allocations
An amended budget was tabled on 7 April 2020 in response to COVID-19. Some of the highlights include:
A 24% reduction in tax collection, compared to what had been projected in the 2020 budget and a fiscal primary deficit of negative 14%.
The decision to remove VAT on food which was supposed to take effect as from April 2020, will be postponed.
All new recruitment in government will be frozen with immediate effect. This freeze will also apply to public enterprises. Payment of allowances for all ‘Information Officers’ will be suspended. This will result in a savings on salaries.
Remunerations for board members, which had increased in the budget in January 2020, for agencies covered in the budget, and for public enterprise boards, which had increased last year, will also be reduced.
Reduce all votes and allowances for overseas travel by 100%.
A 75% reduction in the Entertainment Budget
Reduce all budgets associated with the organisation of workshops and conferences
25% reduction in all printing and stationery budgets
50% reduction in all minor capitals budgets
Increase to Capital Projects because of the expected impact of devaluation on foreign exchange rates, which will affect the cost of projects, particularly those financed by loans.
An increase of R 50.6 million (USD 316 000- less than 0.01% of GDP) is being proposed for the Health Sector in this amendment. This will cover an isolation centre and increase quarantine capacity.
Provisions for the nurses and health care assistants’ schemes are revised, and will take effect as from July 2020. A sum of R 13.68 million (USD 850 000) is being proposed for this.
A sum of R 60 million (USD 374 000- less than 0.01% of GDP) is being proposed under the Contingency vote to cover the costs related to the procurement of medicine and equipment, and for operations and logistics for prevention measures against Covid-19.
A temporary restriction on vehicle importations to save foreign reserves for critical purchases

2 June: Allocations have been increased for welfare assistance by SR 30 million (USD 1.7 million, or 0.1% of GDP), and Unemployment Relief by SR 10 million (USD 570 000) in a draft national budgetary review document.
Transparency, accountability and participation
25 May: To ensure transparency of emergency fiscal spending, the government will submit monthly reports of the emergency spending on wage subsidies, health, and social spending to the Finance and Public Accounts Committee of the National Assembly and make such reports public within three months. Furthermore, an independent audit on emergency spending and related procurement processes will be conducted and the audit report will also be published.

22 June: Measures of transparency and accountability for COVID-19 related spending are in line the normal auditing processes, with the exception of ‘financial assistance’ where Government has redirected this process to the private sector. A commitment has been made that the list of businesses used in providing COVID-19 related goods and services will be published, along with transaction amounts.

Business support and tax measures
The postponement of all payments that were due by March 2020 to September 2020 and the postponement of Corporate Social Responsibility, Tourism Marketing Tax, Business Tax and taxes on Non-Monetary Benefits Income until September 2020.

2 June: Various credit facilities have been opened up to businesses within industries which relate specifically to the production of food within the Seychelles, and have been offered a favourable repayment rate of 1 percent as opposed to the 3 percent repayment rate offered prior to Covid-19.

29 June: The government has announced the provision of wage subsidies for companies facing COVID-19 related distress. These subsidies are estimated to come at a fiscal cost of 5% of the 2020 GDP.
Financing social assistance and food relief
R 1,090,531,200.00 (USD 68 million, or 4.2% of GDP) has proposed in the 2020 budget amendment to guarantee salaries. Salaries will be guaranteed for three months. However provision has been made to cover salaries for at least six months. Assistance will be limited to an individual ceiling of R 30,000.00 (USD 1,868). This assistance will also cover foreign workers. This assistance will also cover self-employed people who have no employees, for example, taxi operators.

R 30 million (USD 1.87 million, or roughly 0.12% of GDP) for the Agency for Social Protection (ASP) to ensure that other individuals in need are also assisted. ASP will also assist individuals in the informal sector. This applies mainly to businesses operating without a licence or permit, or even those who are not paying their taxes. An additional sum of R 10 million was also proposed for the Unemployment Relief Scheme.

11 May: Seychelles' government will not cover the salaries of foreign workers after 1 July.

28 May: The Financial Assistance for Job Retention Scheme in the Seychelles, aimed at providing wage support to those negatively impacted by Covid-19, has paid out a total of SR 122 million (USD 70 million, the equivalent of 4.4% of GDP) during the month of May.

Sierra Leone

Tests p/million
Confirmed cases
1916
Confirmed deaths
68
COVID-19: expected financing requirement
The Government of Sierra Leone has developed different scenarios with varied financing gaps. Under scenario 1 the financing gap is estimated at USD 161.3 million, under scenario 2 it is USD 199.7 million. Under worst-case scenario 3, USD 246.9 million. This translates to between 4 and 5% of GDP.
Official COVID-19 links
https://mohs.gov.sl/covid-19/

Government health expenditure p/capita (PPP USD) (2017)
27
Government health expenditure of government expenditure (2017)
7,91%
Out-of-pocket expenditure of total health expenditure (2017)
42%
External health expenditure of health expenditure (2017)
7,91%

Domestic and external financing
On 2 April, the World Bank approved a USD 7.5 million (0.2% of GDP) International Development Association (IDA) grant to help Sierra Leone respond to the threat posed by the coronavirus outbreak and strengthen national systems for public health preparedness. The funds will fill critical financing gaps that have been identified due to the new emergency preparedness and response needs created by the global pandemic.

Sierra Leone is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust.

The Bank of Sierra Leone will also provide USD 50 million (1.2% of GDP) to the Government's response plan.

As of 13 April, USD 18.28 million's (roughly 0.5% of GDP) worth of debt relief was offered to Sierra Leone through the IMF's Catastrophe Containment and Relief Trust

10 May: The UN has pinpointed Sierra Leone as being extremely vulnerable to the Covid-19 epidemic, and is in the process of putting together a funding plan to help mitigate the economic and social impacts of the epidemic on the country (although the amount of support offered is, as yet, not disclosed).

On 17 June: The World Bank approved a budget support grant of (USD 100 million or 2.5% of GDP) to help address the fiscal challenges faced and improve governance.

29 June: The IMF has approved the disbursement of USD 143 million- approximately 3.5% of GDP- under the Rapid Credit Facility for the financing of increased health spending.
Monetary and macrofinancial measures
The central bank held an emergency Monetary Policy Committee meeting on March 18. They decided to: (i) reduce the monetary policy rate by 150 bps from 16.5 % to 15 %; (ii) create a special credit facility (Le 500 billion) to support production, procurement and distribution of essential goods (modalities discussed with bankers’ association on March 20 but not yet announced); and (iii) extend the reserve requirement maintenance period from 14 to 28 days to ease tight liquidity.

29 June: The central bank announces its' intentions to provide foreign exchange resources to ensure essential goods are imported. The exchange rate has been allowed to adjust.

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
30 April: The Government of Sierra Leone developed a Quick Action Economic Response Programme (QAERP) to address the fiscal, economic and health challenges. The GAP estimates domestic revenue shortfalls of 9-15%.

30 April: Through the Government's 2020 budget, USD 16.1 million (approximately 0.4% of GDP), representing 10% of resources is committed. However, this commitment is at risk as funding the budget is largely dependent on the domestic revenue situation.

30 April: The Government has earmarked Le. 100 billion (USD 10 million, or 0.025% of GDP) for the implementation of the COVID-19 Contingency Plan. This would need to be augmented if a high number of cases emerge in-country, leading to extrabudgetary expenditures across key sectors, such as health, education and social protection.
Transparency, accountability and participation
3 June: As part of its commitment to the IMF, the Government will publish COVID-19 public procurement contracts; publish names of companies awarded contracts; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; publish COVID-19 expenditure reports; and conduct COVID-19 specific audit and publish results.

Business support and tax measures
29 June: While some efforts are planned to cushion the effect of the pandemic on major businesses through the provision of credit facilities at reduced interest rates, it remains unclear how SMEs will be supported.
Financing social assistance and food relief
On 4 April, distributed 25 kg bags of rice, 250,000 leones (USD 25.77), Veronica buckets, and others items to people with disabilities. This support reached 1,891 individual and group beneficiaries. Outreach to people with disabilities is now continuing.

On April 22, the government announced its plans to include incentives for healthcare workers (including a risk allowance, life insurance and compensation for living expenses when in-field) as part of the health response under development.

22 April: In collaboration with Caritas Freetown, Healey International Relief Foundation, and Lanyi Foundation, the BTCF donated 8000 bags of rice/800 tons of rice to the Ministry of Basic Education of Sierra Leone in order to continue with school feeding programmes throughout the Covid-19 related lockdown.

29 April: The BTCF donated 1 600 bags of rice/160 tons of rice to the Ministry of Social Welfare to distribute to vulnerable Muslim and Christian communities in the country.

May 2: Caritas Freetown, Healey International Relief Foundation, and Lanyi Foundation, the BTCF donated 15 hospital beds for the Emergency Operation Center located in Freetown, Sierra Leone.

Somalia

Tests p/million
Confirmed cases
3227
Confirmed deaths
93
COVID-19: expected financing requirement
Ministry of Health estimates USD 200 million (4.2% of GDP) is needed to prevent, rapidly detect and effectively respond to any COVID-19 outbreak to reduce morbidity and mortality in the country.
Official COVID-19 links
http://moh.gov.so/en/

Government health expenditure p/capita (PPP USD) (2017)
Government health expenditure of government expenditure (2017)
Out-of-pocket expenditure of total health expenditure (2017)
External health expenditure of health expenditure (2017)

Domestic and external financing
14 May: The EU is providing 48 million Euros (1.1% of GDP) to Somalia in order to support health facilities and epidemic control efforts in the country.

15 May: The World Bank has approved a USD 137.5 million (roughly 2.9% of GDP) International Development Association grant in order to assist with Somalia's response to Covid-19.

On 24 June, The Global Partnership for Education (GPE) has approved the COVID-19 accelerated funding request of USD 1.3 million (0.03% of GDP).

29 June: The World Bank has approved a Development Policy Grant of USD 55 million (roughly 1.2% of GDP) to help the Federal State of Somalia (FGS) bridge the financing gap brought on by the COVID-19 pandemic. Furthermore, the USAID Somalia Growth, Enterprise, Employment, and Livelihoods (GEEL) project will work together with the World Bank and the FGS Gargaara investment fund to provide fiscal and monetary stimuli through the private sector institutions.
Monetary and macrofinancial measures
30 April 2020: the Central Bank is releasing funding-for-lending support for medium and small enterprises through commercial banks., initially for USD 2.9 million with more in the pipeline. The Central Bank is also encouraging commercial banks to use excess liquidity to support lending and employ existing CBRs to support remittance inflows.

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
30 April: The Government with the support of international partnership have launch a massive fiscal stimulus plan to boost the economy and contain the economic effects of the COVID-19.
Transparency, accountability and participation
29 June: To better monitor financial and liquidity conditions, the Central Bank has increased the frequency and granularity of data collection, including employing one-off surveys. It is also identifying an emergency response group.

Business support and tax measures
Quick financial and material injection is being planned to small and medium enterprises in urban and rural areas hosting large numbers of IDPs and migrants to avert closure of private sector businesses and laying off workers through grants, loans, micro-credit or in-kind. UNIDO is exploring how to adapt its credit line for SMEs to target value chains most disrupted by COVID-19.

Effective April 15, the Somalia government has introduced a three-month tax holiday on basic commodities, and reduced consumption tax on some additional goods by up to 50%.

29 June: In conjunction with the Somalian government, the USAID Somalia Growth, Enterprise, Employment, and Livelihoods (GEEL) project will work together with the World Bank and the FGS Gargaara investment fund to provide fiscal and monetary stimuli through private sector institutions in the country (although descriptions of these stimuli have yet to be discussed).
Financing social assistance and food relief
14 May: The EU is providing 48 million Euros to Somalia in order to support health facilities and epidemic control efforts in the country.

15 May: The World Bank has approved a USD 137.5 million International Development Association grant in order to assist with Somalia's response to Covid-19.

South Africa

Tests p/million
1467
Confirmed cases
559859
Confirmed deaths
10408
COVID-19: expected financing requirement
On 21 April, the response to COVID-19 was announced to cost ZAR 500 billion (USD 26 billion) (10% of GDP).
Official COVID-19 links
https://sacoronavirus.co.za/

Government health expenditure p/capita (PPP USD) (2017)
576
Government health expenditure of government expenditure (2017)
13%
Out-of-pocket expenditure of total health expenditure (2017)
7,75%
External health expenditure of health expenditure (2017)
13%

Domestic and external financing
A solidarity fund has been established to help combat the spread of the virus, the government provided approximately USD 8 million (less than 0.01% of GDP) as seed capital. https://www.solidarityfund.co.za/

South Africa's president and his cabinet will take a 33% pay cut for the next three months to contribute to the Solidarity Fund.

South Africa's private sector had provided over USD 200 million (approximately 0.05% of GDP) to the Solidarity Fund.

South Africa will take up a USD 1 billion (0.3% of GDP) loan from the New Development Bank (NDB) - formerly known as the Brics Development Bank - to fight the Covid-19 pandemic. It is expected to borrow another USD 1 billion later this year to help stimulate the economy after the downturn caused by the pandemic and lockdown.

A facility of USD 60 million (roughly 0.02% of GDP) is being considered from the World Bank and the government has approached the IMF and AfDB.

21 May: The South African government has requested a rapid financing instrument (RFI) amounting to USD 4.2 billion (approximately 1.1% of GDP), subject to the IMF Executive Board's discussion and decision.

29 June: South Africa's president announces a R500 billion (USD 29 billion, or 8% of GDP) COVID-19 related injection into the economy. The funding will come from internal sources, like the Unemployment Insurance Fund, and from reprioritising the current budget. Discussions around obtaining external financing with various institutions, such as the World Bank and the IMF, to further supplement the R500 billion (USD or % of GDP) project have begun. The economic package is the third phase of government's strategy to combat the pandemic related disruptions.
Monetary and macrofinancial measures
The South African Reserve Bank cut the repo rate initially by 1% and an additional 1% on 13 April.

End-April: The Bank has also provided additional liquidity to the financial system. This includes purchasing of government bonds in the secondary market.

In April, a reduction in capital requirement was announced, injecting R30.7 billion (USD 1.8 billion, or 0.5% of GDP) into the economy, and a reduction in liquidity requirements.

12 May: The Reserve Bank bought more than R11 billion (roughly USD 0.6 billion, or 0.2% of GDP) in government debt securities in April as part of a bond-buying programme to boost liquidity in financial markets that are reeling from the effects of the Covid-19 pandemic.

21 May: The South African Reserve Bank has, once again, cut the repo rate from 4.25% to 3.75% in an attempt to bolster economic activity in South Africa.

PFM policies, practices and procedures
30 March: The Minister of Finance in terms of the Municipal Finance Management Act 56 of 2003 (MFMA) issued a conditional Exemption Notice in order to ensure effective and efficient service delivery and to minimize any potential delay in decision making. The conditional Exemption Notice will also facilitate and enable legislative processes during the period of the national state of disaster. The Minister also, in terms of section 92 of the Public Finance Management Act (PFMA), 1999 (Act No.1 of 1999), issued an Exemption Notice to institutions to which this Act applies to ensure effective financial management and to minimize any possible noncompliance with the PFMA.

30 March: National Treasury has issued an Instruction Note 8 of 2019/20 applicable to Public Finance Management Act (PFMA) institutions and a Municipal Finance Management Act (MFMA) Circular 100 for municipalities and municipal entities, to speed up the procurement of goods/commodities required to reduce and control the spread of the virus. This is in support of effective and efficient service delivery and to curb the possible abuse of Supply Chain Management (SCM) systems. The Instruction Note and the Circular also list prices of goods/commodities in efforts to curb opportunistic use of this disaster to drive profit margins.

15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics

15 April: Due to the shortage of Personal Protective Equipment (PPE) to curb the spread of COVID-19, the National Treasury in support of the Department of Trade, Industry, and Competition (DTIC) called on all compliant, particularly local, suppliers providing these commodities to send details of availability to a centralised email address.

5 May: South Africa has ensured flexible implementation of COVID-19 spending under a pre-existing Disaster Management Act to manage actions for fighting COVID-19 and has emergency procurement tools available under its PFM Act in case of need.

29 June: In the most recent supplementary budget an Adjustments Appropriation Bill, a Division of Revenue Amendment Bill, and two more tax bills were presented to Parliament in order to approve the latest COVID-19 response package.

30 June: The government has set up the following strategies for COVID-19 linked PPE product procurements; (i) all PPE products will be centrally procured, warehoused and distributed for the public sector; (ii) through the Solidarity Fund up-front credit will be provided in order to pay supplier for bulk orders and ensure sustained liquidity; (iii) all government institutions are ordered to pay central implementary agents within 10 days in order for these agents to recover the working capital advancements and refund the Solidarity Fund.
Budget adjustments and healthcare allocations
30 March: The Minister of Finance in terms of the Municipal Finance Management Act 56 of 2003 (MFMA) issued a conditional Exemption Notice in order to ensure effective and efficient service delivery and to minimize any potential delay in decision making. The conditional Exemption Notice will also facilitate and enable legislative processes during the period of the national state of disaster. The Minister also, in terms of section 92 of the Public Finance Management Act (PFMA), 1999 (Act No.1 of 1999), issued an Exemption Notice to institutions to which this Act applies to ensure effective financial management and to minimize any possible noncompliance with the PFMA.

30 March: National Treasury has issued an Instruction Note 8 of 2019/20 applicable to Public Finance Management Act (PFMA) institutions and a Municipal Finance Management Act (MFMA) Circular 100 for municipalities and municipal entities, to speed up the procurement of goods/commodities required to reduce and control the spread of the virus. This is in support of effective and efficient service delivery and to curb the possible abuse of Supply Chain Management (SCM) systems. The Instruction Note and the Circular also list prices of goods/commodities in efforts to curb opportunistic use of this disaster to drive profit margins.

15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics

15 April: Due to the shortage of Personal Protective Equipment (PPE) to curb the spread of COVID-19, the National Treasury in support of the Department of Trade, Industry, and Competition (DTIC) called on all compliant, particularly local, suppliers providing these commodities to send details of availability to a centralised email address.

5 May: South Africa has ensured flexible implementation of COVID-19 spending under a pre-existing Disaster Management Act to manage actions for fighting COVID-19 and has emergency procurement tools available under its PFM Act in case of need.

29 June: South Africa's president announces a R500 billion (USD 29 billion or 8% of GDP) COVID-19 related injection into the economy. The funding will not only come from international or internal source, but will also stem from reprioritising the current budget.

30 June: The Supplementary Budget proposes R21.5 billion (USD 1.25 billion or 0.34% of GDP) for COVID‐19‐related health care spending, a further allocation of R12.6 billion (USD 730 million or 0.2% of GDP) to services at the frontline of our response to the pandemic, an additional R5 billion (USD 290 million or 0.08% of GDP) for the education catch‐up plan, social welfare support for communities and provision of quarantine sites by Public Works departments and responses in other sectors. A further R19.6 billion (approximately USD 1.14 billion or 0.3% of GDP) set aside mainly for the public employment programme and a Presidential Youth Employment Intervention.

The sectors that were subjected to budget cuts include: (i) school infrastructure, maintenance, and capital spending- where a total of R6.6 billion (USD 382 million or 0.1% of GDP) will be redirected to ensuring that schools are adequately equipped to impose COVID-19 precautionary measures (such as disinfecting classrooms); (ii) human and urban settlement development grants- where a combined R2.8 billion (USD 162 million or 0.04% of GDP) will be redirected to the rapid provision of housing solutions in areas where self-isolation cannot be implemented; (iii) roads and public transport infrastructure spending- where approximately R4.8 billion (USD 278 million or 0.08% of GDP) will be cut and reallocated; (iv) trade and industry incentives- R1.6 billion (USD 93 million or 0.03% of GDP) in spending will be postponed for a year; (v) community library spending- which will lose R312 million (USD 18 million, less than 0.01% of GDP) in allocated funds; (vi) square kilometer array (SKA) radio telescope- where spending of R360 million (USD 21 million or 0.01% of GDP) will be reallocated; (vii) brand and tourism marketing- where a collective R896 million (USD 52 million or 0.01% of GDP) will be reallocated; (viii) digital television spending- where R78 million (USD 4.5 million, less than 0.01% of GDP) will be reallocated; (ix) military veteran spending- where R90 million (USD 5.2 million, less than 0.01% of GDP) will be reallocated; (x) court infrastructure- where R284 million (USD 16.5 million, less than 0.01% of GDP) will be reallocated; (xi) prison infrastructure- where R161 million (USD 9.4 million, less than 0.01% of GDP) will be cut from projects that address prison overcrowding; (xii) TVET and university spending- where a collective R870 million (USD 50.5 million or 0.01% of GDP) will be reallocated; (xiii) land redistribution and restitution spending- where a total R780 million (USD 45 million or 0.01% of GDP) will be cut; (xiv)integrated national electrification programme spending- where R500 million (USD 29 million or 0.01% of GDP) will be reallocated; (xv) secret service spending- where R200 million (USD 11.6 million, or less than 0.01% of GDP) will be reallocated; (xvi) food security spending- where R1.1 billion (USD 64 million or 0.02% of GDP) will be reallocated.
Transparency, accountability and participation
30 March: National Treasury has set up an email address where members of the public can send suggestions on how best National Treasury can deal with the COVID-19 virus. This is in support of efforts by the rest of government to ensure interaction with members of the public on the virus.

By 15 April, the National Treasury has provided opportunities for public input into the tax relief proposals, an extension of the period for public comment on two draft Bills relating to municipal fiscal powers, and input on public procurement.

15 May: To give effect to the strict monitoring and reporting measures required during times of emergency procurement, a new Instruction Note and Circular provides measures to put in place for COVID-19 emergency procurement, open the supply of these products to all suppliers conforming to specifications and are registered on the Central Supplier database (CSD) of government, outlines the required PPE item specifications, outlines the maximum prices at which government will procure these PPE items, and outlines the emergency procurement, monitoring and reporting requirements.

6 June: South Africa requires that all donor funding be paid into a specific Reconstruction and Development Fund and used strictly in accordance with the purpose set by the regulations and the intent of the donors.

27 July: As part of its commitment to the IMF, the Government will publish COVID-19 public procurement contracts; validate delivery of products and services; publish beneficial ownership information of companies receiving COVID-19 procurement contracts; conduct COVID-19 specific audit and publish results; and publish COVID-19 expenditure reports.

On 5 August, National Treasury announced that the details of companies who have been awarded tenders must be published. Information on who the competing bidders were and on what basis they lost must also be made clear.

Business support and tax measures
The Minister of Finance announced the following exceptional tax measures on 23 March 2020:
The South African Revenue Service will accelerate the payment of employment tax incentive reimbursements from twice a year to monthly to get cash into the hands of compliant employers as soon as possible;
Tax compliant businesses with a turnover of R50 million (USD 3 million, which translates to less than 0.01% of GDP) or less will be allowed to delay 20% of their employees’ tax liabilities over the next four months and a portion of their provisional corporate income tax payments without penalties or interest over the next six months. This intervention is expected to assist 75 000 small and medium term enterprises.

The government will assist companies facing distress through the R180 billion (USD 10.5 billion, or 2.8% of GDP) surplus Unemployment Insurance Fund and special programs from the Industrial Development Corporation. Funds will be available to assist SMEs under stress, mainly in the tourism and hospitality sectors.

On 21 April, R100 billion (USD 5.6 billion- 1.5% of GDP) was announced to support companies and protect jobs, seemingly in addition to the R40 billion (USD 2.3 billion, or 0.6% of GDP) already set aside by the Unemployment Insurance Fund for income support payments. Tax relief to assist corporates could also total R70 billion (USD 4 billion, or approximately 1.05% of GDP). Authorities will roll out a R200 billion (USD 11.2 billion or 3% of GDP) loan guarantee scheme for companies with turnover of less than R300 million (USD 17.4 million, or less than 0.01% of GDP) a year in partnership with the major banks (and SARB).

On 1 May 2020, The National Treasury issued a revised Draft Disaster Management Tax Bill which aims to aid both individuals and businesses.

1 May: Until 31 July 2020, SMMEs can defer 35% of their employees’ tax liabilities and their first and second provisional tax payments. Businesses with a gross income of less than R100 million can apply for additional payment deferrals. Businesses with a gross income exceeding R100 million incapable of making payments due to COVID-19, may apply to defer tax payments. A four-month holiday for Skills Development Levy contributions. The Employment Tax Incentive (ETI) is expanded for tax-compliant employers until 31 July 2020. Delay in Carbon Tax.

1 May: Tax-deductible limit for donations made to the Solidarity Fund will be increased from 10% to 20% of taxable income.
Financing social assistance and food relief
On 21 April, it was announced that R50bn has been allocated to relieve social distress with higher social grants for six months (R500 increase in child care grants and R250 increase of all other grants) as well as a new R350 per month COVID-19 Social Relief of Distress grant to the unemployed (who receive no other government support). It was also announced that municipalities will receive substantial added financing to improve water infrastructure, sanitation of transportation as well as food and housing provision to the homeless.

On 21 April, it was announced that R40 billion has been set aside for income support payments for workers whose employers are not able to pay their wages. The Unemployment Insurance Fund (UIF) will compensate affected workers through a new “National Disaster Benefit” and existing Illness, Reduced Work Time and Unemployment Benefits. The benefit will be at a flat rate equal to the minimum wage USD 200 per employee for the duration of the shutdown or a maximum period of 3 months, whichever period is the shortest.

On 1 May 2020, The National Treasury issued a revised Draft Disaster Management Tax Bill which aims to aid both individuals and businesses.

25 May: The distribution of food parcels will be reorganized and a new system of vouchers or cash payments introduced. Details to follow.

25 May: South Africa's Western Cape provincial government has allocated 18 million Rand (c. USD 958,000) to support the 483,000 learners that are beneficiaries of the province's School Nutrition Programme. Government will provide take-away meals or take-home food rations, with schools being responsible for the modality used to deliver meals to learners.

28 May: For individual taxpayers, the tax-deductible limit for donations will be
increased from 10% to 20% of taxable income for Solidarity Fund
donations during the 2020/21 tax year. This applies to donations
actually paid or transferred to the Solidarity Fund by the end of the year
of assessment of the donor. The proposed amendment is deemed to have
come into operation on 1 April 2020 and applies until 28 February 2021.
► For the period 1 April 2020 to 30 September 2020, employers can factor
in Solidarity Fund donations made on behalf of an employee of 33.3% (for
three months) or 16.66% (for six months) of an employee’s monthly
salary when calculating employees’ tax.
► A COVID-19 Temporary Employer-Employee Relief Scheme (COVID-19
TERS) has been introduced to pay employees a portion of their salary
during the temporary closure of their employer’s businesses. This will be
facilitated by the Unemployment Insurance Fund. Employees may receive
a salary benefit up to a maximum of R17 712 per month, based on an
income replacement scale ranging from 38% to 60%.
► The TERS relief also allows access to an illness benefit for employees
who either self-quarantine without a medical certificate or who
quarantine upon consultation with a medical practitioner.
► To access the TERS relief, the employer must be registered for
Unemployment Insurance Fund (UIF) and the employer’s closure must be
directly linked to the COVID-19 pandemic.

South Sudan

Tests p/million
Confirmed cases
2470
Confirmed deaths
47
COVID-19: expected financing requirement
Official COVID-19 links

Government health expenditure p/capita (PPP USD) (2017)
Government health expenditure of government expenditure (2017)
Out-of-pocket expenditure of total health expenditure (2017)
External health expenditure of health expenditure (2017)

Domestic and external financing
USD 5.6 million (0.05% of GDP) will be mobilised by the EU in South Sudan to increase health system capacity to respond to the pandemic, including USD 1 million to set-up a laboratory for testing COVID-19 as well as other infectious diseases.

The World Bank has allocated USD 7.6 million (roughly 0.06% of GDP) to help manage the spread of coronavirus in South Sudan. The funds under the Provision of Essential Health Services Project will facilitate and strengthen the country’s national systems for public health preparedness.

27 April May: The EU has confirmed that it will increase funding to South Sudan by a further 4 million Euros (0.04% of GDP) in order to bolster the healthcare system in the country.

15 May: The World Bank has approved a grant of USD 105 million (which will be used by UNICEF and the ICRC on behalf of the Republic) to South Sudan. This translates to approximately 0.9% of the country's GDP.
Monetary and macrofinancial measures
On 24 April, the Bank of South Sudan cut the Central Bank Rate by 2 percentage points, from 15 percent to 13 percent, and reduced the Reserve Requirement Ratio from 20 percent to 18 percent.

PFM policies, practices and procedures
Budget adjustments and healthcare allocations
30 June: The government has allocated donations from the United States government to a COVID-19 fund of USD 8 million (0.07% of GDP). Of which, USD 5 million was allocated to the Ministry of Health to combat the pandemic.
Transparency, accountability and participation

Business support and tax measures
Financing social assistance and food relief
In March, the Ministry of Humanitarian Affairs announced that it will, in collaboration with the World Food Program, start a door-to-door food distribution in South Sudan.

25 May: The South Sudan Safety Net Project (SSSNP) will expand access to safety net and provide income security for low income families, while strengthening delivery tools and local level capacities. Nearly 430,000 people will receive cash transfers. It will also provide direct grants to those who are unable to work. The budget allocated to this intervention is USD 40 million.

14 May 2020: The World Health Organization, in conjunction with the World Food Programme (WFP) and the International Medical Corps (IMC) have increased the roll-out of Covid-19 testing by increasing the capacity of the health system in the Republic of South Sudan.

1 June: Although the amount was undisclosed, the African Energy Chamber has donated both a grant and various health supplies to the Ministry of Health in South Sudan as a means to assist in their effort to curb the spread of Covid-19 in the country.

Sudan

Tests p/million
Confirmed cases
11956
Confirmed deaths
781
COVID-19: expected financing requirement
According to a Multi-hazard Emergency Health Preparedness plan prepared with the WHO, the financial needs to cope with COVID-19 related health care is about USD 100 million (approximately 0.24% of GDP). To mitigate the negative impact on households and enterprises, the government may need USD1.5 billion in three months.

7 May: An update to the estimate of financing needs of Sudan place the package needed at close to USD 150 Million (0.36% of GDP), as opposed to the original package estimated at USD 100 Million.
Official COVID-19 links
http://www.fmoh.gov.sd/En/

Government health expenditure p/capita (PPP USD) (2017)
58
Government health expenditure of government expenditure (2017)
11%
Out-of-pocket expenditure of total health expenditure (2017)
74%
External health expenditure of health expenditure (2017)
11%

Domestic and external financing
A national campaign ‘Stand Up for Sudan Initiative' has been launched.

On 9 April, the domestic private sector pledged to contribute USD 2 million to help the government and the UN and international partners will donate USD 9 million . The US government also announced a USD 8 million donation to Sudan. The Islamic Development Bank provided USD 10 million to Sudan. All funding, individually comprised less than 0.01% of national GDP.

On April 9, the Islamic Development Bank was also reported to provide USD 35 million (0.09% of GDP) to Sudan, while the World Bank has also announced a package of USD 35 Million (a further 0.35% of GDP) from its Headquarters based trust funds.

27 April: The European Union, through the Emergency Trust Fund for Africa (EUTF) , provided USD 11 million (0.12% of GDP) to support COVID-19 preparedness. The funds will be used to address critical shortcomings in epidemic preparedness and will be implemented by the World Health Organisation (WHO).

21 May: The European Union announced a support package of 70 Million Euros. This translates to approximately 0.18% of GDP.

7 May: UNAMID has agreed to allocate USD 2 million (less than 0.01% of GDP) to Sudan through financing in order to assist the country mitigate the impact of Covid-19.

29 May: The UN has provided the Sudanese government with access to financing to the effect of USD 47 million (roughly 0.12% of GDP), which is expected to be used to bolster a relatively weak and under-funded health system.

24 June: The European Union has announced further support to Sudan of 11.5 million Euros (equivalent to 0.03% of GDP).
Monetary and macrofinancial measures

PFM policies, practices and procedures
7 May: A committee with special powers to make resource allocation decisions has been created.
Budget adjustments and healthcare allocations
15 April: The government has reallocated USD 3 million (less than 0.01% of GDP) towards COVID-19 healthcare.
Transparency, accountability and participation

Business support and tax measures
30 April: The government is preparing to freeze loan repayment and services for three months to ease the pressure on private sector.

30 April: A decree has been issued allocating 10% of imports’ revenues to fund the costs of medicine imports and the production inputs of the local factories.

30 April: Exemption from taxes, duties and customs fees on all equipment and medication related to COVID-19.
Financing social assistance and food relief
30 April: A Training Layoff scheme, which suspends the employment relationship and pays the worker 75% of the wage, has been proposed.

30 April: Ministry of Labour and Social Development has proposed a USD 110 million program to support 30% of the population for one month, through increasing direct cash transfer, providing unemployment benefits and delivering basic food baskets to poor families at discounted prices.

30 April: Public and private sectors, employees are working half time with full payments and in-kind support to the public sector was provided through the Finance Ministry's Poverty Reduction Unit.

25 May: In-kind support to poor households, informal workers, teachers, and casual workers (total 2 050 000 households). Each targeted household will receive a support package comprising 3,000 SDG (USD 55) in a form of food basket with five commodities. It is estimated to cost roughly 6.15 billion SDG (USD 110 million, or 0.27% of GDP).

27 April: The International Medical Corps has provided Sudan with assistance from 900 health staff (given a constrained health service due to Covid-19), who have conducted 157 800 health services across the region.

Tanzania

Tests p/million
Confirmed cases
509
Confirmed deaths
21
COVID-19: expected financing requirement
Official COVID-19 links
https://www.moh.go.tz/en/covid-19-info

Government health expenditure p/capita (PPP USD) (2017)
45
Government health expenditure of government expenditure (2017)
9,52%
Out-of-pocket expenditure of total health expenditure (2017)
22%
External health expenditure of health expenditure (2017)
9,52%

Domestic and external financing
On 10 April, Barrick Gold, the world’s second-largest gold miner, announced that Twiga Minerals Corporation, its joint venture with the Tanzanian government, launched a support program to assist the east African country in combating and containing the covid-19 pandemic. It is contributing USD 1.7 million in the form of critical equipment and expertise to help prevent the spread of the virus.

On 11 June: The government has received a loan relief through the Catastrophe Containment Relief Trust (CCRT) for USD 14.3 million (or 0.025% of GDP) which was approved by the International Monetary Fund Board. The amount could increase to USD 25.7 million (or 0.04% of GDP). Other institutions that the government is in talks with include the World Bank through the Pandemic Emergency Financing Facility (PEF) amounting to USD 3.98 million (or 0.007% of GDP); Economic Development Cooperation Fund (ECDF) through the Korea Exim Bank of USD 501,169 (or less than 1% of GDP); budget support from the European Union through EU window Covid-19 Response Package EUR 27 million. Others include the IMF to secure a loan under the Rapid Credit Facility (RCF) scheme whereby the government can borrow from the Special Drawing Rights (SDR) to an equivalent of approximately USD 272 million (or 0.47% of GDP) for improving balance of payments.

On 24 June: The Global Partnership for Education (GPE) has approved COVID-19 Accelerated Funding grant of USD 1.5 million. This translates to less than 0.01% of GDP.
Monetary and macrofinancial measures
17 May: The central bank lowered the statutory minimum reserves requirements for commercial banks to 6% from 7%, effective 8 June, to provide additional liquidity to banks. The discount rate for banks has also been cut from 9% to 7%, to cushion the economy from the effects of the COVID-19 crisis.

21 May: The daily transactions limit for mobile money operators was raised from USD 1 300 to USD 2 170, with the mobile money daily balance limit being raised from roughly USD 2170 to USD 4 340 as well.

29 June: The Bank of Tanzania will provide regulatory flexibility to banks and other financial institutions that will carry out loan restructuring operations on a case-by-case basis.

PFM policies, practices and procedures
15 April: SADC Member States have established National Emergency Operations Centres to facilitate coordination of logistics and stockpiling for disasters at the national level. The SADC Pooled Procurement Services for pharmaceuticals and medical supplies is being implemented to provide sustainable availability and access to affordable and effective essential medicine and health commodities, and Member States have been encouraged to utilise this facility for the procurement of the needed supplies for prevention, treatment and control of COVID-19 and any other epidemics.
Budget adjustments and healthcare allocations
The Minister of Finance and Planning has directed senior officials in the Ministry of Finance and Planning to partner with the Bank of Tanzania (BoT) to look at the potential effects of Corona on the economy and how to deal with them.

As of 7 May 2020, The government released USD 302 million for health spending. The funds come from the re-prioritisation of budget expenditure and cancelling and postponing some budgeted spending such as foreign travel and training; national ceremonies; and procurement of vehicles.

29 June: Thus far, the government has spent USD 8.4 million (or 0.14% of GDP) to combat the effects of COVID-19. The government will also use contingency reserve of USD 3.2 million (or 0.006% of GDP) to fund additional health spending to mitigate the risks of the pandemic.

New Expenditure Policies for 2020/21 were developed in light of the COVID-19 pandemic these will include the following; (i). Maintaining discipline and increasing efficiency in the use of public funds; (ii). Ensuring fiscal deficit does not exceed 3 percent of the GDP in line with East African Community macroeconomic convergence criteria; (iii) Allocating funds to priority areas which stimulate economic growth; (iv) Ensuring ongoing projects are given priority prior to committing to new ones; (v) Controlling accumulation of arrears; and (vi) Enhancing the use of ICT in transactions and in the Government operations on health services improvement, activities to be implemented include: procurement and distribution of medicine, equipment, medical equipment and reagents; construction of regional and zonal referral hospitals, district hospitals, health centers and dispensaries; improving access to health services through universal health coverage; and employing various health professionals.
https://www.mof.go.tz/index.php/budget-speeches
Transparency, accountability and participation
10 June: As part of its commitment to the IMF, the Government will conduct COVID-19-specific audit and publish results.

Business support and tax measures
30 April: To support the private sector the government has expedited the payment of verified expenditure arrears giving priority to affected SMEs, paying USD 376 million over the past two months. The government has granted VAT and customs exemptions to additional medical items requested by the Ministry of Health.

30 June: The following tax relief systems are being implemented; VAT exemption is additively extended towards insurance premiums relating to agriculture business; and allowable deduction for contributions made by companies towards COVID 19 and HIV AIDS relief funds.
Financing social assistance and food relief
30 June: The government has expanded social security schemes by USD 32.1 million (translating to 0.06% of GDP) to meet the increase in withdrawals benefits for COVID-19 related unemployment.

Togo

Tests p/million
339
Confirmed cases
1060
Confirmed deaths
23
COVID-19: expected financing requirement
The overall financing need is estimated at about CFAF 70 billion (about USD 130 million or 2 % of GDP). The immediate and direct costs of this plan is estimated at CFAF 20 billion (about USD 35 million or 0.6 % of GDP) with a CFAF 2 billion self-funding.

7 May: A Solidarity and Economic Recovery Fund of CFAF 400 Billion (USD 666 million or 11.8% of GDP) is expected to be set up.
Official COVID-19 links
https://covid19.gouv.tg/

Government health expenditure p/capita (PPP USD) (2017)
20
Government health expenditure of government expenditure (2017)
4,25%
Out-of-pocket expenditure of total health expenditure (2017)
50%
External health expenditure of health expenditure (2017)
4,25%

Domestic and external financing
A national solidarity fund has been established amounting to 400 billion CFA francs (USD 669 million, or 12.5% of GDP) which will, among other things, care for the sick, support vulnerable households, workers in the informal economy and SMEs.

On 3 April, SDR 71.49 million was provided by the IMF through augmentation of the existing Extended Credit Facility.

3 April: The authorities currently have secured financing of about CFAF 7 billion (USD 11.7 million, or 0.2% of GDP) from development partners to cover direct costs to combat COVID-19.

Togo is included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing through the Catastrophe Containment and Relief Trust.

As of April 13, the IMF has also provided Togo with debt relief of USD 5.12 million (roughly 0.1% of GDP).

29 April: The World Bank has approved USD 273 million in financing from the International Development Association for Togo, Benin, Burkina Faso and Niger in order to improve access to vital services for vulnerable groups in the countries. A further USD 8.1 million (0.15% of GDP) was issued to Togo specifically in order to help Togo combat Covid-19.

29 July: The IMF has provided significant financing to Togo, approving an ECF disbursement (with an augmented quota) of USD 131 million (equivalent to 2.44% of GDP). The African Development Bank further approved a USD 3 million (0.06% of GDP) loan reallocation to the agriculture sector for the Togo COVID-19 response.
Monetary and macrofinancial measures
March 21: The Central Bank of West African States (BCEAO) announced the following measures: i) providing XOF 340 billion (USD 589 million) of additional liquidity made available to the banks by weekly and monthly auctions up to XOF 4 750 billion (USD 8.2 billion) ; ii) extending the collateral framework to access the BCEAO's refinancing to include XOF 1,050 billion (USD 1.8 billion) of bank debt of prequalified 1,700 private companies; iii) setting-up of a framework with the banking system to support firms with repayment difficulties.

On March 25: Further measures include: i) allocation of XOF 25 billion to the trust fund of the West African Development Bank (BOAD), in order to increase the amount of confessional loans to eligible countries to finance urgent investment and equipment expenses; ii) communicating of the special program for refinancing bank credits granted to SMEs; iii) initiating negotiations with firms issuing electronic money to encourage its usage; iv) ensuring adequate provision of banknotes for satisfactory ATM operations.

To promote the use of electronic payment tools the Western Africa Central Bank (BCEAO) is providing more flexible measures to open a mobile money and making transfers between people backed by electronic money free.

7 May: As of April 30, the BCEAO launched a special 3-month refinancing window at a fixed rate of 2.5 % for limited amounts of 3-month "Covid-19 T-Bills" to be issued by each WAEMU sovereign to help meet funding needs related to the current pandemic.

On 22 June, the BCEAO announced that it had decreased the tender operations rate from 2.5% to 2%, and that the interest rate on marginal loan windows was reduced to 4% from 4.5%. The Monetary Policy Committee cut by 50 basis points the ceiling and the floor of the monetary policy corridor, to 4 and 2 percent respectively.

29 July: The BCEAO has also announced: (i) an extension of the collateral framework to access central bank refinancing to include bank loans to prequalified 1,700 private companies; (ii) a framework inviting banks and microfinance institutions to accommodate demands from customers with Covid19-related repayment difficulties to postpone for a 3 month renewable period debt service falling due, without the need to classify such postponed claims as non performing; and (iii) measures to promote the use of electronic payments. In addition, the BCEAO launched a special 3-month refinancing window at a fixed rate of 2.5 % for limited amounts of 3-month "Covid-19 T-Bills" to be issued by each WAEMU sovereign to help meet immediate funding needs related to the current pandemic. The amount of the special T-Bills issued by Togo amounts to 3.2 % of GDP.

PFM policies, practices and procedures
16 April: To accommodate the COVID-19 spending needs (1.3% of GDP) and the revenue loss linked to slower economic growth (0.4 % of GDP), the projected overall fiscal deficit for 2020 has been revised by 1.7 % of GDP, from 1.9 to 3.6% of GDP.

On April 27, Heads of states of the West African Economic and Monetary Union (WAEMU) declared a temporary suspension of the WAEMU growth and stability Pact setting six convergence criteria, including the 3 % of GDP fiscal deficit rule, to help member-countries cope with the fallout of the Covid-19 pandemic, allowing member countries to raise fiscal deficits temporarily.

7 May: A committee with special powers to make resource allocation decisions has been created.

21 May: The national Assembly in Togo authorized the central government to rule by decrees for a period of 6 months in order to accelerate the decision legislative decision making process during the Covid-19 epidemic.

29 June: Imports of medical equipment and other products used exclusively in the fight against COVID-19 have been exonerated from taxes and duties.
Budget adjustments and healthcare allocations
The authorities intend to spend CFAF 50 billion (about USD 95 million or 1.4 % of GDP) to improve key health infrastructure to strengthen resilience against pandemics and chronic diseases.

3 April: The fiscal deficit is expected to widen from an initial projection of 1.9 % of GDP to 3.6% of GDP, due to higher healthcare spending and revenue loss.

21 May: Healthcare expenditure, which was originally estimated to be approximately USD 95 million, is now estimated to cost closer to USD 187 million (roughly 3.3% of GDP). The government of Togo is also expected to create an agriculture response plan to Covid-19 which will aim to improve food security in the country, but details of this plan have yet to be revealed.
Transparency, accountability and participation

Business support and tax measures
3 April: The privatization of the two state-owned banks has been delayed due to COVID-19.

9 May: SMMEs paying tax can now pay taxes in tranches in order to smooth over their financial flows during the Covid-19-related economic downturn.

21 May: The standard VAT rate of 18% has been reduced to 10% for all businesses operating in the hospitality and catering sectors. Furthermore, late tax payment penalties for companies lagging behind in quarter 2 payments of 2020 have been suspended, while already-audited companies who have had tax penalties imposed on them have the option to review those penalties, and potentially have those penalties overturned.
Financing social assistance and food relief
30 April: Free consumption of water and electricity for three months for vulnerable households and reducing the cost of water connection from 75,000 CFA francs to 25,000 CFA francs.

3 April: Monthly coordination is underway between the sectoral ministries and the ministry of finance on commitment plan, procurement plan, and cash plan, including on social spending. The execution of social spending is being prioritized among investment spending. Those measures will also cushion the fall in income and consumption for the vulnerable population due to the COVID-19.

25 May: Togo launched a social safety net scheme called “Novissi”. This means solidarity in local dialect and is an unconditional cash transfer scheme designed to support all Togolese informal workers whose incomes are disrupted by the Covid-19 response. All informal workers, above 18 years old, who have a valid voter’s ID and can prove they have lost
their income due to the Covid-19 response are eligible to benefit from the scheme. The money is sent via the T Money and Flooz mobile money platforms. Applicants can check if they are eligible by dialing *855#.

7 May: HeidelbergCement has contributed XOF 20 million (USD 34 000) to assist the Togolese government in their bid against Covid-19.

29 May: UNICEF, in conjunction with the Health Ministry in Togo, has created a nutritional response plan which will rollout to various regions across the country. UNICEF has also assisted in distributing 2 020 locally-made masks to community healthcare workers so far, with a further 19 000 still to be delivered.

Tunisia

Tests p/million
1050
Confirmed cases
1697
Confirmed deaths
51
COVID-19: expected financing requirement
A 2.5 billion TND emergency plan (USD 0.8 billion or 2 % of GDP) was announced on March 21.
Official COVID-19 links
https://covid-19.tn/fr/principale/

Government health expenditure p/capita (PPP USD) (2017)
457
Government health expenditure of government expenditure (2017)
14%
Out-of-pocket expenditure of total health expenditure (2017)
External health expenditure of health expenditure (2017)
14%

Domestic and external financing
The head of government (Chef du gouvernement, Mr Fakfakh) announced the creation of a national commission (Covid-19 Solidarity Fund 1818).

21 March: The authorities announced a USD 710 million (or % of GDP) emergency plan to respond to COVID-19

On 10 April, SDR 545.2 million/ USD 745 million (or % of GDP) was approved by the IMF as a Rapid Financing Instrument.

Tunisia has also received 250 million euros (USD 272 million or % of GDP) of financial aid from the European Union.

On 15 April, the Ministry of Professional Training and Employment announced that the French l'Agence francaise de développement (AFD) will provide USD 9 million (or 0.02% of GDP) to support employment.

On 17 April, US AID announced funding of EUR 315 million for the coming five years to support Tunisia's economy and its democracy.

10 April: In order to strengthen revenue, the government increased the price of tobacco in March and decided to generate additional savings with respect to the initial budget, by freezing non-statutory hiring and promotions as well as any salary increases beyond those previously agreed with the union. In addition, USD 1.17 billion (or 2.9% of GDP) of public investment had to be postponed. The authorities have also introduced a mechanism for the automatic adjustment of fuel prices in order to free the budget from the burden of fuel subsidies.

23 April: The European Commission will grant Tunisia a EUR 600 million (USD 654 million or 1.6% of GDP) loan to help the country limit the economic fallout of the coronavirus pandemic, in addition to the USD 272 million (or 0.68% of GDP) pledged by the European Union.

30 April: The World Bank announced additional financing to Tunisia to the effect of TND 62 million (USD 21.6 million or 0.014% of GDP).

6 May: The Ministry of Finance announced that total contributions to the National Solidarity Fund in Tunisia have reached TND 198 million (USD 69 million or 0.17 % of GDP).

On 12 June, the World Bank approved a budget support of USD 175 million (or 0.45% of GDP) for Tunisia under the Resilience and Recovery Emergency Development Policy Operation.

29 June: The government announced a set of financial measures including the creation of investment funds TND 600 million (USD 210 million or 0.53% of GDP) and a state guarantee for new credits TND 500 million (USD 175 million or 0.44% of GDP) to combat the economic impacts of Covid-19.
Monetary and macrofinancial measures
The Central Bank of Tunisia (BCT) has reduced its policy rate in March by 100 bps. Besides, the government announced a set of financial measures including the creation of investment funds TND 600 million (USD 206 million or 0.52% of GDP), a state guarantee for new credits TND 500 million (USD 173 million or 0.43% of GDP), the activation of a mechanism for the state to cover the difference between the policy rate and the effective interest rate on investment loans within a cap of 3 %.

On 17 April, the BCT published a circulaire in that, under exceptional circumstances, banks are allowed to submit assets as collateral for refinancing operations that do not meet usual eligibility criteria. This is to assure adequate refinancing operations for the banking system as a whole.

28 May: The BCT has updated its policy, and allowed commercial banks to provide exceptional financing to businesses who have been financially impacted by the Covid-19 epidemic and subsequent lockdown. Regulations suggest that this exceptional financing should not exceed 25% of a company's turnover (exclusive of tax), with a repayment period to the maximum term of 7 years.

29 June: The CBT announced a package to support the private sector, by asking banks to defer payments on existing loans and suspend any fees for electronic payments and withdrawals. The central bank has also asked banks to postpone credit reimbursement by employees for a period of 3 or 6 months, depending on the net revenue level.

PFM policies, practices and procedures
On 6 April, the Ministry of Industry and SMEs called for industries specialising in the textile sector to support the national effort to manufacture reusable masks also to prepare for the period after the confinement ends and the wearing of masks is assumed to become mandatory.
Budget adjustments and healthcare allocations
The response plan includes an expansion of the budget allocation for health expenses as well as the creation of a TND 100 Million (USD 37 million) fund for the acquisition of equipment for public hospitals.

3 April: The fiscal deficit for 2020 is expected to increase to 4.3% of GDP, rather than fall to 2.8% of GDP as originally envisaged in the budget law. Currently identified external loans and grants amount to USD 2.5 billion out of a total external financing program of USD 3.5 billion needed to cover the deficit. The authorities will re-program low priority non-health/non-education infrastructure development projects worth about TD 3.4 billion (USD 1.2 billion or 3% of GDP) to open space for more urgent spending. If crisis-response measures exceed the currently programmed levels, further cuts in non-priority investment would be required unless additional donor support could be mobilized.

27 May: The government has reallocated TND 200 million (approximately USD 70 million or 0.18% of GDP) to the tourism sector as a means to secure a credit line to the tourism sector in Tunisia.
Transparency, accountability and participation

Business support and tax measures
15 April: The government has granted VAT and customs exemptions to additional medical items requested by the Ministry of Health.

10 April: The government has implemented temporary measures to alleviate the financial burden experienced by small and medium enterprises. These include deferr