The role of IMF against

COVID-19 pandemic
Rasulov Maryo
mariorasulov27@gmail.com
Content
Introduction
The IMF
The goals of the IMF

SDR
Resources

Financial assistance
1st component

2nd component

3rd component

Risks

Sources
Introduction
COVID-19 Pandemic has had a huge negative impact on global
economic.

The IMF comes to wold issue willing with assistance to fight this crisis.
The International Monetary Fund international financial institution
Establishment 1944
Location Washington D.C.,USA
Parent organization United Nations
Main organ Board of governors
Managing director Kristalina Georgievna
Official language English
Member countries 190
Nationalities represented by staff 150
Executive directors representing 190 24
member countries
Total amount the IMF is able to lend to $1 trillion
its member countries
Current lending arrangements 29
Staff from 150 countries include 2700 people
The largest borrowers Argentina, Egypt, Ukraine, Pakistan
Interest rate on loans to low-income 0%
countries
 The goals of the IMF

Foster global monetary cooperation

Secure financial stability

Facilitate international trade

Promote high employment and sustainable economic growth

Reduce poverty around the world while periodically depending on the World Bank for its resources
Special Drawing Rights International reserve asset

Establishment IMF, 1969

Goal Supplement its member countries’ official reserves

1 SDR $1.4 (20.11.2019)

Total SDR allocation SDR 660.7 billion

The value of the SDR is based on a basket of five US dollar $

currencies Euro €
Chinese renminbi 元 /¥
Japanese yen ¥
British pound sterling £
The largest allocation SDR 456 billion (against COVID-19 Pandemic)
Resources

Member quotas are the primary source of IMF financial resources.

A member’s quota broadly reflects its size and position in the world economy.

The IMF regularly conducts general reviews of quotas. 

The 14th Review, which was concluded in 2010 and became effective in 2016, doubled quota resources to SDR 477
billion (about US$687 billion).

The 15th Review was concluded in 2020 with no increase in quota. 

The IMF, Financial assistance in response to the COVID-19 Pandemic

Temporarily increased the access limits under emergency financing instruments

Temporarily increased the annual limit on overall access under non-concessional resources

Established the Short-term Liquidity Line (SLL) to provide a backstop to members with very strong policies and
fundamentals.
The Managing Director of the IMF
“The International Monetary Fund (IMF) is proposing a
three-point global program to combat the spread of the
new coronavirus in the amount of $50 billion called
"Proposal to end the COVID-19 pandemic.”
Global Health Summit, 21st of May 2021

She pointed out that the state of various economies "will

only worsen as the gap between rich countries that have
access to vaccines and poor countries that do not have it
increases." The head of the IMF noted that the program
will "largely bring the pandemic under control.“

Kristalina Georgieva Source:

https://tass.ru/ekonomika/11439047
 Component
1st “Vaccination of at least 40% of the world's population by the end of 2021
and at least 60% by the first half of 2022.

2nd “Providing guarantees against the risks of economic downturn, such as new strains of [coronavirus], which
may require repeated vaccinations. This means investing in additional 1 billion doses of vaccine production
capacity.”

3rd “It is necessary to rationally "manage the interim period when vaccine supplies are limited."
"This proposal will cost about $50 billion in the form of a combination of grants, resources from national
governments and concessional financing.”
Additional allocation of reserve assets
The IMF has made a historic decision to restore the
economy after the coronavirus pandemic and allocated
additional reserve assets worth $ 650 billion. The
statement is published on the organization's website.

The distribution will begin on August 23 for all members

of the fund in proportion to their quotas. $275 billion will
go to support emerging markets and low-income
countries.

“This is a historic decision — the largest

Kristalina Georgieva allocation of SDR in the history of the IMF”
Risks
to the recovery of the global economy from the effects of the coronavirus pandemic

high prices

rapid inflation than usual

logistical disruptions

rising housing prices

devaluation of currencies of developing countries

increase in the cost of imports to them

Source
• https://www.imf.org/en/Topics/imf-and-covid19
• https://finance.rambler.ru/markets/
• https://tass.ru/ekonomika/11439047