01715cas a2200253 a 4500 AALejournalIMF003391 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451860276 1018-5941 BD-DhAAL BD-DhAAL Joshi, Priyadarshani. Implicit Transfers in IMF Lending, 1973-2003 / Priyadarshani Joshi, Jeromin Zettelmeyer. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (41 pages) IMF Working Papers <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 We compute realized transfers implicit in IMF lending from 1973-2003, based on 2003 IMF repayment projections and promised debt relief. IMF lending rates to high-and middleincome countries fell short of industrial country borrowing rates by 30-150 basis points over the period as a whole, but exhibited a small premium after 1987. The subsidy received by low-income and HIPC countries was much higher (400-600 basis points, respectively). In 2002 NPV terms, cumulative transfers were 12-15 percent of 2002 GDP for the HIPCs, 2-3 percent for low income countries, and less than 3/4 percent for the emerging market countries. Mode of access: Internet Zettelmeyer, Jeromin. IMF Working Papers; Working Paper ; No. 2005/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/2005/008/001.2005.issue-008-en.xml IMF e-Library