| IMF Completes Chad Talks For
$68M COVID Funds After Answered Inner City
Press on Lockdowns
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- CJR -
PFT
UN GATE / SDNY
COURT, June 29 – When
the International Monetary
Fund held its biweekly
embargoes media briefing on
June 18, Inner City Press
posed a number of questions
including three that got
answered, on Cameroon, Bolivia
and Zambia. See below.
On July 13
on Chad, the IMF issued this:
"IMF Staff Completes
Discussions for an Additional
US$68 Million Disbursement to
Chad to Address the COVID-19
Pandemic... Chad’s economy has
been severely impacted by the
twin Covid-19 pandemic and
terms of trade shocks. The
additional resources under the
RCF will help alleviate
pressing financing needs,
including for health, social
protection, and supporting the
most impacted sectors and
vulnerable
groups.
Washington, DC – July 13, 2020
Mr. Edward Gemayel, Mission
Chief for Chad at the
International Monetary Fund
(IMF), made the following
statement: “IMF staff
completed discussions with the
authorities for a disbursement
by end-July of an additional
US$68 million under a new RCF.
This second emergency
disbursement will allow the
authorities to meet the urgent
budgetary and balance of
payment needs stemming from
the deterioration of the
global economic conditions and
the containment of the
COVID-19 pandemic.”
“Chad is facing serious
challenges from the twin
Covid-19 pandemic and terms of
trade shocks. Depressed
commodity prices, weak
external demand, and domestic
containment measures are
weighing on the outlook, and
are causing significant
adverse economic and social
effects... The mission had
working sessions with Mr.
Tahir Hamid Nguilin, Minister
of Finance and Budget, Mr.
Annour Mahamat Hassan,
National Director of the BEAC,
and a team from the Ministry
of Finance and Budget."
On
Cameroon, in light of its
reporting that the Paul Biya's
government has been arresting
political opponents who are
distributing COVID-19 masks
and other PPE, Inner City
Press asked, "In
Cameroon, FM Louis Paul
Motaze said the IMF funds will
be used "specifically" to
equip hospitals, supply needed
material in a transparent way.
Can you summarize the
restrictions / specific
purposes?"
IMF
Spokesperson Gerry Rice said
that there are restrictions -
video here.
On Bolivia Inner
City Press asked, "On Bolivia,
what is the IMF's response
(and confirmation or denial)
that the Bolivian parliament
has voted to reject a $327
million loan from the
International Monetary Fund
(IMF) that was earmarked to
help the country tackle the
coronavirus pandemic, media
reported. According to
state news agency ABI, the
interim government denounced
the parliament's rejection of
the loan." In response to
this, the IMF's Rice said the
offered assistance comes with
no conditionality. Video here.
Finally, for now, on Zambia
Inner City Press asked, "On
Zambia, please confirm (or
deny) and provide IMF comment
on that the "IMF consultative
and information exchange
mission for Zambia will take
place from June 22 to July 1"
- what is the IMF's thinking
on Zambia?" Rice confirmed the
timing. We'll have more on all
this. Watch this site.
***
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