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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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