According to bank documents, the objectives of the proposed emergency project are to: (1) To contain the spread of the virus and support firms to protect workers; and (2) secure the country’s future economic potential in improving budget management and opening up the digital economy.
The proposed operation aims to support the authorities’ response to the COVID-19 crisis and help advance a more inclusive and sustainable recovery. Specifically, the first pillar consists of emergency relief measures to cushion the impact of the pandemic on the most vulnerable population by supporting enhanced health services delivery and social distancing measures as well as protecting livelihoods by targeted support to firms by providing them liquidity and putting in place employment contingency measures. The second pillar supports inclusive and sustainable economic recovery by addressing key structural bottlenecks, particularly through clearing domestic expenditure arrears, enhancing debt transparency, reforming procurement processes as well as facilitating digital transformation.
Marko Kwaramba, Wolfgang Fengler
Ministry of Finance
Vusie E Dlamini
Ministry of Finance
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