02715cas a2200301 a 4500 AALejournalIMF022993 230101c9999 xx r poo 0 0eng d 20.00 USD 9781589065314 2790-4601 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Republic of Equatorial Guinea: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director. Spanish Republic of Equatorial Guinea : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (56 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Already battered by a still unfolding COVID-19 pandemic, Equatorial Guinea was struck on March 7 by massive accidental explosions at a military compound in Bata, its largest city, that killed over 100 people and caused widespread damage to surrounding neighborhoods. These shocks have adversely impacted economic activity and weakened considerably the fiscal and external positions, relative to the EFF-supported program approved in December 2019, creating a substantial financing gap. With the EFF-supported program off-track, as governance reforms have taken longer than originally envisaged, it is not feasible to effectively respond to the humanitarian crisis within the EFF framework. Bringing the program back on track would take time as the authorities continue to work on outstanding structural measures due to capacity constraints in the pandemic context and need for consensus building. Support provided under the RFI, buttressed by appropriate prior actions on governance and safeguards, would create the fiscal space necessary for the authorities to meet the immediate humanitarian needs, and reinvigorate engagement under the EFF-supported program. Mode of access: Internet International Agreements and Observance imf International Organizations imf Monetary Policy imf Equatorial Guinea, Republic of imf IMF Staff Country Reports; Country Report ; No. 2021/219 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=2790-4601&volume=2021&issue=219 IMF e-Library