Our updated tracker* captures 72 countries that we know of so far that have either sought, or are seeking, emergency help from the IMF or have made drawings under their existing arrangements, or are seeking new ones, in response to the Covid-19 pandemic (this is up by 1 since our last update). We note that our count of 72 includes three countries that now have two entries.
There have been five events since our last update on 15 May, although we record only a new one in our tracker as we had anticipated four of them the last time. There have been four Board approvals, two emergency financing facilities (Uzbekistan and Jamaica) and two programme reviews (the second review of Armenia's SBA and the sixth and final review of Benin's ECF), although we knew all of these were coming from the IMF board schedule. The one new event concerns Mongolia, where IMF staff noted that they had concluded discussions with the authorities on a RFI on 18 May. Board approval is expected in early June.
Since our last update on 15 May, the two latest approvals for emergency financing facilities takes the total number of countries now to 53 on our count, and the total amount disbursed under these facilities to US$20.9bn. According to the IMF board schedule, there should be two more approvals today (Jordan and St Vincent), as we flagged last week.
Over half of the Fund's 189 members have requested emergency help since the start of the coronavirus pandemic (54%).
*Our updated tracker seeks to identify countries that have requested IMF financial support, under its different guises, in order to help them deal with the impact of Covid-19. We do not claim it is exhaustive, but hope it provides a useful guide to investors on the current state of play. It is based on information that has been reported by the IMF itself, various media or national governments. We aim to produce regular updates.