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Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 30
Book Description
This paper presents the last six borrowing agreements that were concluded between October 2023 and February 2024 to provide new loan resources to the Poverty Reduction and Growth Trust (PRGT) as part of the loan mobilization round launched in July 2021 to support low-income countries (LICs) during the pandemic and beyond. Five of the six agreements use SDRs in the context of SDR channeling. Together these borrowing agreements provide a total amount of SDR 3.9 billion in new PRGT loan resources. The 2021 loan fundraising campaign was concluded successfully. It mobilized total contributions of SDR 14.65 billion from 17 PRGT lenders, well exceeding the SDR 12.6 billion loan target.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 30
Book Description
This paper presents the last six borrowing agreements that were concluded between October 2023 and February 2024 to provide new loan resources to the Poverty Reduction and Growth Trust (PRGT) as part of the loan mobilization round launched in July 2021 to support low-income countries (LICs) during the pandemic and beyond. Five of the six agreements use SDRs in the context of SDR channeling. Together these borrowing agreements provide a total amount of SDR 3.9 billion in new PRGT loan resources. The 2021 loan fundraising campaign was concluded successfully. It mobilized total contributions of SDR 14.65 billion from 17 PRGT lenders, well exceeding the SDR 12.6 billion loan target.
Author: Mr.Luis E Breuer Publisher: International Monetary Fund ISBN: 148433714X Category : Business & Economics Languages : en Pages : 336
Book Description
Analytical work on Indonesian macroeconomic and financial issues, with an overarching theme on building institutions and policies for prosperity and inclusive growth. The book begins with a 20-year economic overview by former Finance Minister Chatib Basri, with subsequent chapters covering diverse sectors of the economy as well as Indonesia’s place in the global economy.
Author: International Monetary Fund. Secretary's Department Publisher: International Monetary Fund ISBN: 1513568817 Category : Business & Economics Languages : en Pages : 74
Book Description
A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 18
Book Description
This paper presents the first set of borrowing agreements that have been finalized as part of the loan mobilization round launched in July 2021 to cover the cost of pandemic-related lending and support the self-sustainability of the Poverty Reduction and Growth Trust (PRGT). All agreements presented use SDRs in the context of SDR channeling and together provide a total of SDR 2.85 billion in new PRGT loan resources for low-income countries (LICs).
Author: International Monetary Fund. Strategy, Policy, & Review Department Publisher: International Monetary Fund ISBN: Category : Languages : en Pages : 214
Book Description
This paper reviews Poverty Reduction and Growth Trust (PRGT) facilities and financing. It proposes a comprehensive package of lending policy reforms and financing measures that aims to bolster the Fund’s capacity to support Low-Income Countries (LICs) in addressing their balance of payment needs, while restoring the self-sustainability of the Trust. The Review proposes a long-term self-sustained annual PRGT lending envelope of SDR 2.7 billion, more than double the PRGT envelope before the Covid-19 pandemic, consistent with the expected demand for Fund’s concessional financial support in the years ahead. The paper also proposes to introduce a new interest rate mechanism to better reflect the heterogeneity among LICs and focus further concessional resources to the poorest countries. These countries (currently 31 LICs) will continue to benefit from an interest-free lending under the PRGT, while other LICs will be charged a modest, and still concessional, interest rate. Additionally, the paper proposes to keep PRGT access limits at their current levels and to implement several reforms, including: reverting the PRGT access norm to the level prevailing before December 2023, streamlining and strengthening the PRGT safeguards, adjusting the PRGT eligibility and graduation framework and updating the list of PRGT-eligible countries, extending the temporarily higher cumulative access limits under the RCF until the end of December 2025, and implementing a targeted adjustment to the Policy Safeguards for High Combined Credit Exposure. On financing measures, the paper proposes to address the remaining gap in PRGT subsidy resources after accounting for the lending policy changes through (1) a further five-year suspension of PRGT administrative expenses reimbursement to the GRA and (2) a framework to deploy IMF internal resources to facilitate the generation of PRGT subsidy resources.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: 1498346553 Category : Business & Economics Languages : en Pages : 9
Book Description
On July 17, 2017, the Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), entered into a new borrowing agreement (the “Agreement”) with the Bank of Italy (hereafter, Italy or Purchaser), by which Italy will provide new resources to the Extended Credit Facility Loan Account of the PRGT in the total amount of up to SDR 400 million
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: 1498339573 Category : Business & Economics Languages : en Pages : 6
Book Description
In recent months, a number of Directors have expressed support in the Executive Board for a further extension of the temporary exceptional interest waiver on concessional lending. An extension would send a signal of the Fund’s continued support for Low-Income Countries at a time when the global economic crisis is still ongoing. In view of the related downside risks to the global economic recovery and a decline in the ability of Low-Income Countries to respond to a further weakening of global growth, this paper proposes a further extension of the exceptional interest waiver by two years, to end-2014. This paper also proposes to further extend to April 2013 the existing subsidization of the rate of charge on outstanding Emergency Natural Disaster Assistance and Emergency Post-Conflict Assistance purchases by PRGT-eligible members.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 42
Book Description
This paper presents the second set of PRGT borrowing agreements that have been finalized through April 2023 as part of the loan mobilization round launched in July 2021 to cover the cost of pandemic-related lending and support the self-sustainability of the Poverty Reduction and Growth Trust (PRGT). Seven of the eight agreements presented use SDRs in the context of SDR channeling. Together these agreements provide a total of SDR 5.1 billion in new PRGT loan resources for low-income countries (LICs).
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498342531 Category : Business & Economics Languages : en Pages : 12
Book Description
This paper provides the basis for the second review of the interest rate structure approved under the 2009 reforms of the Fund’s concessional lending facilities. Based on the application of the Poverty Reduction and Growth Trust (PRGT) interest rate mechanism, PRGT interest rates for 2015–16 would be zero percent for both the Extended Credit Facility (ECF) and Rapid Credit Facility (RCF), and 0.25 percent for the Stand-by Credit Facility (SCF). The interest rate on remaining balances of the Exogenous Shock Facility (ESF) is not set by the PRGT interest mechanism and it would be 0.25 percent. In accordance with the PRGT Instrument, the next review of PRGT interest rates will take place by December 31, 2016.
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Finance Dept.
Author: Mr.Luis E Breuer
Author: International Monetary Fund
Author: International Monetary Fund. Secretary's Department
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Strategy, Policy, & Review Department
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund