Burundi Request for Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for Burundi

Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, including from the containment measures introduced in trading partners and neighboring...

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Bibliographic Details
Corporate Author: International Monetary Fund African Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a COVID-19 
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653 |a Public debt 
653 |a Debt relief 
653 |a Infectious & contagious diseases 
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653 |a Public finance & taxation 
653 |a Debt Management 
653 |a Debts, Public 
653 |a Debt 
653 |a Exports and Imports 
653 |a Asset and liability management 
653 |a International economics 
653 |a International Lending and Debt Problems 
653 |a Debts, External 
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653 |a Health Behavior 
653 |a Health economics 
653 |a Sovereign Debt 
653 |a Health: General 
653 |a Diseases: Contagious 
653 |a Communicable diseases 
653 |a Financial Risk Management 
653 |a Public Finance 
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520 |a Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, including from the containment measures introduced in trading partners and neighboring countries. Economic growth projections for 2020 have been revised down by 5.3 percentage points to -3.2 percent in 2020. The pandemic has exacerbated pre-existing economic challenges and creates an external financing need of 4.7 percent of GDP in 2020 and 2021, mainly as a result of lower exports in line with lower foreign demand due to lower global growth and transportation bottlenecks from containment measures in other countries; elevated imports needs related in part to the planned fiscal spending aimed at responding to the pandemic; and reduced remittances inflows. The pandemic has also created a fiscal financing need of 6.9 percent of GDP, which will need to be met mainly from external sources