Catastrophe Containment And Relief Trust—Approval Of Grant Assistance For Debt Service Relief

This paper proposes that the Executive Board determine that the global COVID-19 pandemic constitutes a Qualifying Public Health Disaster (QPHD) under the CCRT

Volume/Issue: Volume 2020 Issue 022

Publication date: April 2020

ISBN: 9781513540603

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Topics covered in this book

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Exports and Imports , PP , debt service relief , CCRT , CCRT resource , tranche , fundraising , SDR , fundraising effort , relief from the CCRT , obligations to the fund , CCRT-eligible country , Debt service , Debt relief , Balance of payments need , Global , COVID-19

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Summary

This paper proposes that the Executive Board determine that the global COVID-19 pandemic constitutes a Qualifying Public Health Disaster (QPHD) under the Catastrophe Containment (CC) Window of the Catastrophe Containment and Relief Trust (CCRT), in line with the new QPHD test approved by the Board on March 26. The CCRT has sufficient financial resources for an initial tranche of grant assistance for debt service relief covering eligible debt falling due from all CCRT-eligible members through October 13, 2020. Fundraising efforts continue to secure the financial resources needed to commit future such tranches for CCRT debt service relief, up to a cap of two years. Staff considers that the 25 members requesting CCRT assistance qualify for immediate CCRT relief.