Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument write by International Monetary. This book was released on 2021-06-21. Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument available in PDF, EPUB and Kindle. To help support members faced with the COVID-19 pandemic, the Fund temporarily increased certain access limits to its emergency financing (EF) instruments, i.e., Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI). While this expanded support has been critical to help countries manage the pandemic, the increase in access limits was not applied to the Large Natural Disasters (LND) windows within the EF toolkit, reducing the flexibility to respond to such LNDs. This paper proposes to temporarily increase by 50 percent of quota the annual access limit (AAL) and cumulative access limit (CAL) under the LND windows of the RCF and RFI. The changes to the “LND windows” would be in effect through end-December 2021, in line with the other temporary changes of access limits under EF instruments. The case for further extensions to all the temporarily increased EF AALs and CALs will be examined after the 2021 Annual Meetings.
Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument
Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument write by International Monetary Fund Strategy, Policy, and Review Department. This book was released on 2021. Temporary Modifications To Access Limits Under The Large Natural Disaster Window Of The Rapid Credit Facility And Of The Rapid Financing Instrument available in PDF, EPUB and Kindle. To help support members faced with the COVID-19 pandemic, the Fund temporarily increased certain access limits to its emergency financing (EF) instruments, id est, Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI). While this expanded support has been critical to help countries manage the pandemic, the increase in access limits was not applied to the Large Natural Disasters (LND) windows within the EF toolkit, reducing the flexibility to respond to such LNDs. This paper proposes to temporarily increase by 50 percent of quota the annual access limit (AAL) and cumulative access limit (CAL) under the LND windows of the RCF and RFI. The changes to the 'LND windows' would be in effect through end-December 2021, in line with the other temporary changes of access limits under EF instruments. The case for further extensions to all the temporarily increased EF AALs and CALs will be examined after the 2021 Annual Meetings.
Enhancing the Emergency Financing Toolkit—Responding To The COVID-19 Pandemic
Enhancing the Emergency Financing Toolkit—Responding To The COVID-19 Pandemic - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Enhancing the Emergency Financing Toolkit—Responding To The COVID-19 Pandemic write by International Monetary Fund. This book was released on 2020-04-09. Enhancing the Emergency Financing Toolkit—Responding To The COVID-19 Pandemic available in PDF, EPUB and Kindle. The COVID-19 pandemic is taking a human toll and has unleashed a series of shocks on the Fund’s entire membership, creating severe disruption in the global economic and financial system. As a result, many emerging market and developing country (EMDC) members face urgent and unprecedented financing needs, creating significant immediate demand for Fund resources. In order to respond to members’ large and urgent financing needs, the paper proposes to enhance the Fund’s emergency financing toolkit, through a temporary increase in access limits for both the Rapid Financing Instrument (RFI), available to all members, and the Rapid Credit Facility (RCF), available to Poverty Reduction Growth Trust-eligible members only. It is proposed to increase these access limits for a proposed period of six months, which may be extended by the Executive Board. A companion Board paper sets out proposals to accelerate Board consideration of member requests for financing under the RCF and RFI, completion of reviews and requests for changes in access in existing arrangements, and requests for grant assistance under the Catastrophe Containment and Relief Trust.
Review of The Cumulative Access Limits Under The Rapid Financing Instrument and The Rapid Credit Facility
Review of The Cumulative Access Limits Under The Rapid Financing Instrument and The Rapid Credit Facility - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Review of The Cumulative Access Limits Under The Rapid Financing Instrument and The Rapid Credit Facility write by International Monetary Fund. Finance Dept.. This book was released on 2023-06-30. Review of The Cumulative Access Limits Under The Rapid Financing Instrument and The Rapid Credit Facility available in PDF, EPUB and Kindle. The IMF extended the temporarily higher Cumulative Access Limits under the Fund’s Emergency Financing instruments, the Rapid Credit Facility (RCF) under the General Resources Account, and the Rapid Financing Instrument (RFI) under the Poverty Reduction and Growth Trust. This extension ensures that the Fund can continue to support member countries that accessed Fund’s emergency financing during COVID-19 pandemic in case of renewed emergency situations. The temporarily higher cumulative access limits under the RFI will be maintained until end-June 2024 when most RFI recipients will have repaid a significant part of their past emergency financing. The temporarily higher cumulative access limits under the RCF will be maintained until the completion of the 2024/25 comprehensive review of the Fund’s concessional facilities and financing, given the longer repayment schedule for RCF financing.
Review Of Temporary Modifications To The Fund’s Access Limits In Response To The Covid-19 Pandemic
Review Of Temporary Modifications To The Fund’s Access Limits In Response To The Covid-19 Pandemic - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Review Of Temporary Modifications To The Fund’s Access Limits In Response To The Covid-19 Pandemic write by International Monetary. This book was released on 2021-12-22. Review Of Temporary Modifications To The Fund’s Access Limits In Response To The Covid-19 Pandemic available in PDF, EPUB and Kindle. Over the course of the pandemic, the Fund has made several modifications to the access limits on the use of Fund’s resources to increase the borrowing space under the hard caps on emergency financing and under the annual limits that trigger exceptional access (EA) safeguards under GRA and PRGT. The current temporarily-increased access limits expire at end-December 2021, and absent policy changes, the limits would return to the lower pre-pandemic levels or to the new PRGT annual access limit. Staff proposes to let all access limits return to pre-pandemic levels (or the new PRGT annual access limit), with the exception of the cumulative access limits for emergency financing instruments, which would be extended at the current level for another 18 months.
