Fund Concessional Financial Support For Low-Income Countries-Responding To The Pandemic.
This paper proposes a package of policy reforms and a funding strategy to ensure that the Fund has the capacity to respond flexibly to LICs' needs during the pandemic and recovery. The key policy reforms proposed include: -- raising the normal annual/cumulative limits on access to PRGT resource...
| Corporate Author: | |
|---|---|
| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2021.
|
| Series: | Policy Papers; Policy Paper ;
No. 2021/053 |
| Subjects: | |
| Online Access: | Full text available on IMF |
| Summary: | This paper proposes a package of policy reforms and a funding strategy to ensure that the Fund has the capacity to respond flexibly to LICs' needs during the pandemic and recovery. The key policy reforms proposed include: -- raising the normal annual/cumulative limits on access to PRGT resources to 145/435 percent of quota, the same thresholds for normal access in the GRA; -- eliminating the hard limits on exceptional access (EA) to PRGT resources for the poorest LICs, enabling them to obtain all financing on concessional terms if the EA criteria are met; -- changes to the framework for blending concessional and non-concessional resources to make it more robust and less complex; -- stronger safeguards to address concerns regarding debt sustainability and capacity to repay the Fund; and -- retaining zero interest rates on PRGT loans, consistent with the established rules for setting these interest rates. |
|---|---|
| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Physical Description: | 1 online resource (155 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 2663-3493 |
| Access: | Electronic access restricted to authorized BRAC University faculty, staff and students |