The International Monetary Fund (IMF) has approved a total of $3, 060.14million as emergency financial aid for 24 African countries.
The IMF approved this financial aid to help the selected African countries fight the coronavirus pandemic.
Coronavirus has affected all countries and every sector of the world’s economy. When Africa started recording cases of Coronavirus, some of the countries requested for financial aid from the IMF.
Below are the countries that have received financial aid from the IMF:
· Benin
Type of emergency financing: Catastrophe Containment and Relief (CCRT)
Amount approved: $7.43 million
Date approved: April 13, 2020
· Burkina Faso
Type of emergency financing: Rapid Credit Facility (RCF) and CCRT
Amount approved: RCF-$84.28, CCRT-8.74
Date approved: RCF-April 14, 2020, CCRT-April 13, 2020
· Cape Verde
Type of emergency financing: RCF
Amount approved: $23.7 million
Date approved: April 22, 2020
· Central African Republic
Type of emergency financing: CCRT and RCF
Amount approved: CCRT – $2.86 million, RCF – $27.85 million
Date approved: CCRT-April 13, 2020, RCF-April 20, 2020
· Chad
Type of emergency financing: RCF and CCRT
Amount approved: CCRT-$10.12million, RCF-$84.12million
Date approved: CCRT-April 13, 2020, RCF-April 14, 2020
· Comoros
Type of emergency financing: CCRT, RCF and Rapid Financing Instrument (RFI)
Amount approved: CCRT-$0.97million, RCF-$2,97 million, RFI-$5.93million
Date approved: CCRT- April 13, 2020, RCF-April 22, 2020, RFI-April 22, 2020
· Democratic Republic of Congo
Type of emergency financing: CCRT and RFI
Amount approved: CCRT-$14.85million, RCF-$266.5million
Date approved: CCRT-April 13, 2020, RCF-April 22, 2020
· Cote D’Ivoire
Type of emergency financing: RCF and RFI
Amount approved: RCF-$216.8million, RFI-$433.6million
Date approved: RCF & RFI-April 17, 2020
· Gabon
Type of emergency financing: RFI
Amount approved: $108million
Date approved: April 9, 2020
· The Gambia
Type of emergency financing: CCRT and RCF
Amount approved: CCRT-$2.10million, RCF-$15.55million
Date approved: CCRT-April 13, 2020, RCF-April 15, 2020
· Ghana
Type of emergency financing: RCF
Amount approved: $738million
Date approved: April 13, 2020
· Guinea
Type of emergency financing: CCRT
Amount approved: $16.37million
Date approved: April 13, 2020
· Guinea-Bissau
Type of emergency financing: CCRT
Amount approved: $1.08 million
Date approved: April 13, 2020
· Liberia
Type of emergency financing: CCRT
Amount approved: $11.63million
Date approved: April 13, 2020
· Madagascar
Type of emergency financing: CCRT and RCF
Amount approved: CCRT-$3.06million, RCF-$122.2million
Date approved: CCRT and RCF – April 13, 2020
· Malawi
Type of emergency financing: CCRT
Amount approved: $7.20million
Date approved: April 13, 2020
· Mali
Type of emergency financing: CCRT
Amount approved: $7.30million
Date approved: April 13, 2020
· Mozambique
Type of emergency financing: CCRT and RCF
Amount approved: CCRT-$10.89million, RCF-$227.2million
Date approved: CCRT-April 13, 2020, RCF-April 24, 2020
· Niger
Type of emergency financing: CCRT and RCF
Amount approved: CCRT-$5.64million, RCF-$83.66
Date approved: CCRT-April 13, 2020, RCF-April 14, 2020
· Rwanda
Type of emergency financing: RCF and CCRT
Amount approved: RCF-$80.1million, CCRT-$8.01million
Date approved: RCF-April 2, 2020, CCRT-April 13, 2020
· Sao Tome and Principe
Type of emergency financing: CCRT and RCF
Amount approved: CCRT-$0.11million, RCF-$9.03million
Date approved: CCRT-April 13, 2020, RCF-April 21, 2020
· Senegal
Type of emergency financing: RFI and RCF
Amount approved: RFI-$215.73million, RCF-$107.87million
Date approved: RFI&RCF-April 13, 2020
· Sierra Leone
Type of emergency financing: CCRT
Amount approved: $13.36million
Date approved: April 13, 2020
· Togo
Type of emergency financing: CCRT and Augmentation of ECF
Amount approved: CCRT-$3.74million, Augmentation of ECF-$71.49million
Date approved: CCRT-April 13, 2020, Augmentation of ECF-April 3, 2020