Spending, Accountability, and Recovery Measures included in IMF COVID-19 loans

To respond to the outbreak of the COVID-19 pandemic, the International Monetary Fund (IMF) has committed $1 trillion and so far provided $89 billion worth of financial assistance to countries around the world. Oxfam has tracked this COVID-19 financing and fiscal measures referenced in each of the 91 packages approved so far using official IMF reports for the respective countries. 

The tracker covers the amounts of funding IMF committed and disbursed to borrowing countries by region (column 2), types of financing instruments the Fund has employed (column 2), the borrowing countries’ current debt situation (column 3), fiscal policy measures, particularly social spending aimed at addressing the crisis (column 4), anti-corruption and transparency measures which countries have committed to undertake (column 5), and proposed fiscal measures for the recovery period (column 6). 

The text provided in this tracker is a compilation of select and relevant quotes/excerpts from official IMF reports while the debt data was drawn from the World Bank’s Debtor Reporting System. For more details or clarity, please refer to these sources for each respective country. For the avoidance of doubt, the IMF publications cover a wider range of issues than is covered in this tracker and remain the primary source of information on IMF COVID-19 financing and borrowing countries’ fiscal policy measures. This information is not intended to replace official IMF reports. 

There are several excellent trackers  available which help to demonstrate trends in the financing itself. This particular tracker has been compiled for the benefit of persons and institutions wanting a snapshot view of what governments are borrowing, what they intend to do with these funds, what the IMF is encouraging countries to take during the pandemic and in the recovery period, and to give citizens and civil society a tool to hold their governments and the IMF accountable. All information is correct as of September 20, 2020.