| IMF Disburses to Montenegro
$84M For COVID After Inner City Press Asked of
Sudan and Standards
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
NEW YORK, SDNY,
June 11 – When the
International Monetary Fund
held its biweekly embargoed
media briefing on June 4,
Inner City Press submitted
questions including on Sudan,
which IMF Spokesperson Gerry
Rice answered, see below.
Now on June
24, the IMF on Montenegro
issued this: the IMF "today
approved SDR 60.5 million
(about $US 83.7 million or
Euro 74 million, 100 percent
of quota) in emergency
assistance for Montenegro
under the Rapid Financing
Instrument (RFI) to meet
urgent balance of payment
needs stemming from the
outbreak of the COVID-19
pandemic. The RFI
provides rapid financial
assistance to member countries
facing an urgent balance of
payment needs, including those
arising from commodity price
shocks, natural disasters,
conflict and post-conflict
situations, without the need
for a full-fledged economic
program or reviews. The
COVID-19 pandemic has weakened
Montenegro’s economic outlook.
With tourism accounting for
around a fifth of the economy,
Montenegro could experience
the largest contraction since
independence. GDP is projected
to decline by nearly 9 percent
in 2020 (11.7 percentage
points below the pre-virus
baseline), but GDP is expected
to grow by 5.2 percent in 2021
and gradually converge to
potential. To mitigate
the impact of the pandemic on
the economy, the Montenegrin
authorities are implementing a
package of fiscal and
financial sector measures to
sustain economic activity
during the crisis, including
measures to preserve
employment, an extension of
social benefits, and provision
of liquidity to the economy."
Back
on June 4 Inner City Press
asked, "On Sudan, what is the
status - ot's reported Sudan
is seeking its first IMF
program since 2014. Agreeing
the non-financial initiative
in June talks and persuading
the U.S. to drop its
long-standing listing of Sudan
as a state sponsor of
terrorism are key planks of
the plan, FinMin El-Badawi
said."
IMF spokesperson Rice said,
Matthew Lee in New York, Inner
City Press, thank you for the
question... He confirmed,
largely, and referring to
COVID-19 in Sudan. Full answer
on video here.
Transcript here;
"for a question on Sudan from
Matthew Lee, up there in New
York, Inner City Press. Thank
you, Matthew. "On Sudan,"
Matthew asks, "What's the
status? It's reported that
Sudan is seeking its first IMF
program since 2014," etc.
At least
the IMF answers Press
questions. We'll have more on
this - watch this site.
***
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