IMF emergency financing tracker; EM/Frontier countries seeking funding has spiraled this month

Tellimer, the EM and frontier markets specialists, have been publishing regular updates on their IMF emergency financing tracker, and it provides a fairly bleak picture of how quickly the finances of emerging nations are worsening in the face of COVID-19. Tellimer’s latest update captures 72 countries that they know of so far that have either sought, or are seeking, emergency help from the IMF or have made drawings under their existing arrangements, or are seeking new ones, in response to the pandemic. This is up from 58 in the last two weeks, and from 31 just one month ago. In terms of actual disbursements, 53 countries have now received funding from the IMF with the total amount disbursed under these facilities totalling US$20.9 billion. Tellimer say that according to the IMF board schedule, there should be two more approvals today (Jordan and St Vincent).