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Die Schweizerischen Bundesbahnen SBB wurden 1902 gegründet und sind seither die staatliche Eisenbahngesellschaft der Schweiz. Zuvor waren alle Bahnen des Landes im Besitz privatrechtlicher Gesellschaften. Die Verstaatlichung der Privatbahnen erfolgte nach einer Volksabstimmung, die im Jahre 1898 angenommen wurde. Seit 1902 wird der Geschäftsbericht der SBB in der Schweizerischen Nationalbibliothek gesammelt und aufbewahrt. Er erscheint jährlich und berichtet über die aktuelle Lage des Konzerns, über zukünftige Vorhaben, über Unternehmensstruktur und Führungsprozesse. Teil des Geschäftsberichts ist auch ein ausführlicher Finanzteil.

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This paper discusses Malawi's Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 pandemic is having a severe impact on Malawi, creating an urgent balance of payments need. The authorities have been proactive in mitigating the impact of the pandemic, including through increased spending on health care and social assistance, supporting small and medium enterprises, bolstering farmers' incomes and ensuring food security through purchase and storage of agricultural harvests, and easing liquidity constraints in the banking system. The IMF's emergency financing under the RCF is expected to help the authorities meet the large external financing gap and catalyze further assistance from the international community. Additional concessional donor support will be critical to close the remaining external financing gap and facilitate the needed interventions to ease the economic and social impacts of the pandemic, while preserving Malawi's hard-earned macroeconomic stability. A widening of the budget deficit is appropriate in the near-term, given the fiscal costs associated with the economic slowdown and critical additional health care and social spending needs, which should be executed transparently and targeted to the most affected parts of society.

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This paper highlights Djibouti's Requests for Disbursement Under the Rapid Credit Facility and Debt Relief Under the Catastrophe Containment and Relief Trust. The coronavirus disease 2019 pandemic is having a severe impact on Djibouti, creating urgent balance of payments and fiscal financing needs. The authorities acted swiftly to contain and mitigate the spread and impact of the virus. Their prevention and containment measures and decisions to scale-up health and other emergency spending to protect households and firms hit by the crisis will help limit economic and social consequences. IMF support is expected to provide additional resources for the essential health and other emergency spending, including social safety nets. It will also help catalyze additional donor support. Once the crisis abates, temporary measures should be unwound, with policies refocusing on promoting a strong and inclusive recovery and preserving medium-term debt sustainability. It will be critical to address and prevent the recurrence of external arrears, ramp up operations of key projects, and reduce public sector borrowing.

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