COVID-19 has taken a severe social and economic toll, including almost 60,000 deaths. With over 5 million jobs temporarily affected, Colombia recorded its largest recession on record. Since 2020H2, an uneven recovery with intermittent growth has been underway, led by private domestic demand....

Peru entered the pandemic with a sustained track record of implementing very strong policies amid very strong economic fundamentals and institutional policy frameworks, but was hit hard by the pandemic, which took a heavy toll in terms of human lives and economic output. Tensions between...

Against the background of the pandemic shock, a coup d'etat on August 18, 2020 led to a period of international disengagement with Mali and an economic blockade by ECOWAS until the appointment of a transitional government in October. Fund engagement was also put on hold during this period,...

The Cabo Verdean economy is in recession as a result of the economic impact of the pandemic that has shut down the tourism and transport sectors and significantly affected the rest of the economy. The number of COVID-19 cases continues to rise with concentration in the largest island, though the...

Kenya has been hit hard by the COVID-19 pandemic. Despite a forceful policy response by the authorities, the socio-economic impact has been significant. The shock has also exacerbated the country's pre-existing fiscal vulnerabilities, pushing Kenya into high risk of debt distress. While the...

While the Covid-19 shock temporarily disrupted Pakistan's progress under the program supported by the IMF's Extended Fund Facility (EFF), the authorities' policies have been critical in supporting the economy and saving lives and livelihoods. Aside from health-related containment measures, their...

The COVID-19 pandemic has hit Madagascar hard, reversing recent progress in per capita income and poverty reduction. GDP is estimated to have contracted by 4.2 percent in 2020. Two RCF disbursements approved on April 3 and July 30 (totaling 2.4 percent of GDP) helped close short-term financing...

The COVID-19 pandemic has sharply deteriorated Namibia's short-term macroeconomic outlook, giving rise to urgent balance of payments (BOP) and fiscal financing needs. After an initial outbreak peaked in August, a second wave hit in late 2020. Containment measures have negatively impacted...

Georgia has emerged from its second lockdown that was imposed in November 2020 following a sharp increase in COVID-19 cases. Vaccinations commenced in March 2021 and the country is now entering a critical stage in overcoming the pandemic. The lockdowns drove a contraction of around 6.2 percent...

Aruba managed to contain the pandemic in the first months of the outbreak but experienced a resurgence of new infections in the summer. The economic impact of COVID-19 is particularly severe given Aruba's high dependency on tourism. While the authorities' swift response has helped contain the...