02214cas a2200241 a 4500 AALejournalIMF020208 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498340168 2663-3493 BD-DhAAL BD-DhAAL International Monetary Fund. Review of Facilities for Low-Income Countries : Supplement 1. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (37 pages) Policy 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 This supplement aims to assess the economic impact of the Fund's support through its facilities for low-income countries (LICs). It relies on two complementary econometric analyses: the first investigates the longer-term impact of Fund engagement-primarily through successive medium-term programs under the Extended Credit Facility (ECF) and its predecessors (and more recently the Policy Support Instrument (PSI))-on economic growth and a range of other indicators and socio-economic outcomes; the second focuses on the role of IMF shock-related financing-through augmentations of ECF arrangements and short-term and emergency financing instruments-on short-term macroeconomic performance. The empirical results shed some light on two channels through which different Fund facilities may have helped LICs respond to the global financial crisis-(i) by supporting a gradual buildup of macroeconomic buffers in the decades prior to the crisis and (ii) by providing liquidity support at the height of the crisis. The combination of strong pre-crisis buffers and crisis financing allowed LICs to pursue counter-cyclical policy responses that preserved spending and facilitated a rapid recovery. Mode of access: Internet Policy Papers; Policy Paper ; No. 2012/059 Full text available on IMF http://elibrary.imf.org/view/journals/007/2012/059/007.2012.issue-059-en.xml IMF e-Library