{"id":109047,"date":"2020-04-01T17:33:07","date_gmt":"2020-04-01T21:33:07","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=109047"},"modified":"2020-04-01T17:33:07","modified_gmt":"2020-04-01T21:33:07","slug":"pm-writes-head-of-imf-world-bank-to-request-assistance-in-light-of-covid-19","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pm-writes-head-of-imf-world-bank-to-request-assistance-in-light-of-covid-19\/","title":{"rendered":"PM Writes Head Of IMF, World Bank To Request Assistance In Light Of COVID-19"},"content":{"rendered":"<div id=\"antig-529879976\" class=\"antig-ecab antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-384823248\" class=\"antig-before-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/medicalbenefitsscheme\" aria-label=\"mbs ad\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/mbs-ad.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/mbs-ad.jpeg 1200w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/mbs-ad.jpeg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:341\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/mbs-ad.jpeg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/mbs-ad.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1200\" height=\"400\"   \/><\/a><\/div><p>Prime Minister Gaston Browne has told heads of the International Monetary Fund and World Bank to consider a number of measures to assist small and vulnerable economies like Antigua &amp; Barbuda.<\/p><div id=\"antig-3845697509\" class=\"antig-content_5 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"ABLP_2026_Launch_English_Digital-BB\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png 2160w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:512\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:384\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:768\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png 1536w, https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English_Digital-BB-1.png 2048w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"2160\" height=\"1080\"   \/><\/a><\/div>\n<p>In a letter to IMF Managing Director Ms Kristalina Georgieva and World Bank PresidentnMr David R. Malpass Browne notes the already devastating impact the the COVID-19 pandemic has already had on small economies.<\/p>\n<p>He wants the two institutions and G20 countries to consider at meetings of their Governors in April proposals be included for small and vulnerable economies.<\/p><div id=\"antig-75449788\" class=\"antig-content_4 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-281234180\" class=\"antig-content_12 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"ABLP_2026_Launch_English-_lineup_Digital-BB (1)\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png 2160w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:512\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:384\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:768\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png 1536w, https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_2026_Launch_English-_lineup_Digital-BB-1.png 2048w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"2160\" height=\"1080\"   \/><\/a><\/div>\n<p>&#8220;&#8230;including (a) suspension of per capita income as a criteria for concessional financing; (b) debt relief including suspension of debt payments, write-offs of aged debt particularly by the Paris Club; (c) budgetary support through a mix of grants and low-cost loans on a country by country basis.&#8221;<\/p><div id=\"antig-3226417059\" class=\"antig-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ReggaeInTheParkAntigua\" aria-label=\"lucanio\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 1080w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1080\" height=\"1350\"   \/><\/a><\/div>\n<p>In his letter dated March 30, 2020 Browne underscored\u00a0 the calamitous effects of the pandemic COVID-19.\u00a0 He said the pandemic is showing every sign of being worse in its global consequences than the 2008 financial crisis that crippled the world for many years.<\/p>\n<p>He said COVID-19 has been wreaking havoc globally but especially on poor states as well as small and vulnerable ones.<\/p><div id=\"antig-3505722860\" class=\"antig-content_2 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"500X500 (1)\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 500w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:150\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" width=\"500\" height=\"500\"   \/><\/a><\/div>\n<p>&#8220;We also draw to your attention that, apart from the huge, sudden and unbudgeted costs with which my government and other Caribbean governments are confronting to tackle COVID-19 in our countries, we are also beleaguered by an unexpected economic decline that has already stripped us of more than 20% of our GDP in some cases, and the certain prospect of further and prolonged deterioration,&#8221; Browne said.<\/p>\n<p>He added that several of our countries are highly tourism dependent.\u00a0 &#8220;The stoppage of airlines and cruise ships have devastated our tourism industry.\u00a0 Hotels and other tourism facilities have been forced to close because of a loss of business as well as domestic measures to try to contain COVID-19 and to arrest its spread.\u00a0 The effect of this is a significant and unsustainable drop in government revenues, including foreign exchange, occurring simultaneously with demands for increased government spending to institute new health facilities and to provide such assistance as possible to families whose only money earner has been laid-off.All of this translates into very high unemployment, and an increase in poverty levels that, inevitably, will spur more and varied crime \u2013 drug trafficking, probably becoming rampant. &#8221;<\/p><div id=\"antig-4071041118\" class=\"antig-content_3 antig-entity-placement\"><a href=\"https:\/\/www.antiguabarbudaculinarymonth.com\/\" aria-label=\"CM key_WEB 1300x300_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1301\/h:301\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1301\/h:301\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 1301w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:69\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:237\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:178\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1301\" height=\"301\"   \/><\/a><\/div>\n<p>Antigua enters a 24 hour curfew from mid-night on April 2 in an efforts to slow the spread of the virus.<\/p><div id=\"antig-3445552221\" class=\"antig-content_6 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div>\n<p>Browne who is also finance minister said, &#8220;some of our countries were valiantly reducing their debt to GDP ratios and will now be set-back by the urgency to incur new debt to stave-off a humanitarian crisis.\u00a0\u00a0 In our present situation, the huge decline in revenues and the necessary draw-down on foreign reserves to meet the cost of imports of medicines, medical equipment, and food, will impose upon us the imperative of deferring current debt servicing.<\/p>\n<p>We are also mindful that the Caribbean region is now two months away from the annual hurricane season, predicted this year to be above average with 16 named storms of which 7 will be hurricanes: 3 to 4 being major ones.\u00a0 In the region\u2019s already precarious state, the effects of a hurricane would be beyond catastrophic.&#8221;<\/p>\n<p>The prime minister wrote in his letter that &#8220;each of our nations is struggling to manage the fiscal demands in these externally generated and desperate circumstances and with scarce and dwindling resources, that are not the fault of our policies or failures.\u00a0\u00a0 However, we are acutely aware that, in the best-case scenario, it will be at least a year before the tourism industry will return to any semblance of normalcy.\u00a0 Many of our economies will shrink by then, recording negative growth and lacking the capacity to provide the fiscal stimulus required for recovery.<\/p>\n<p>Some of our countries in the Caribbean \u2013 including many that are vulnerable to hurricanes \u2013 have been graduated from access to concessional terms of financing.\u00a0\u00a0 Therefore, under the existing criteria, based largely on per capita income, these countries will not qualify for the considerations being given by the Bank and Fund to IDA countries, including financing needs and debt relief or even access to the Fund\u2019s Rapid Credit Facility.&#8221;<\/p>\n<div id=\"antig-1537178684\" class=\"antig-in-comments_2 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/@hadeedmotorsltd\" aria-label=\"Hadeed_WEB_Banner_MG-2\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>Prime Minister Gaston Browne has told heads of the International Monetary Fund and World Bank to consider a number of measures to assist small and vulnerable economies like Antigua &amp; Barbuda. In a letter to IMF Managing Director Ms Kristalina Georgieva and World Bank PresidentnMr David R. Malpass Browne notes the already devastating impact the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":108846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-109047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PM Writes Head Of IMF, World Bank To Request Assistance In Light Of COVID-19 - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/pm-writes-head-of-imf-world-bank-to-request-assistance-in-light-of-covid-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM Writes Head Of IMF, World Bank To Request Assistance In Light Of COVID-19\" \/>\n<meta property=\"og:description\" content=\"Prime Minister Gaston Browne has told heads of the International Monetary Fund and World Bank to consider a number of measures to assist small and vulnerable economies like Antigua &amp; Barbuda. In a letter to IMF Managing Director Ms Kristalina Georgieva and World Bank PresidentnMr David R. 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