In addition, the ECB’s agreements on bilateral euro swap and repo line arrangements with some EU and EU neighbouring countries’ central banks to prevent euro liquidity shortages from morphing into financial stability risks and to support the smooth transmission of monetary policy.
Support to the most vulnerable countries, including through the G20 Debt Service Suspension Initiative and the establishment of the Common Framework for Debt Treatments, has also shown how the international community has stood together firmly to address the pandemic and its consequences.