| Table
1. Key IMF Financial Statistics
|
| as of
March 17, 2011
|
| (In billions
of SDRs, and end of period, unless indicated otherwise)¹
|
(For
definitions, see below)
|
|
|
|
|
|
|
2011
|
|
|
|
2009
|
2010
|
Q1 to date
|
|
|
| Financial Assistance
|
|
| GRA
|
|
| Purchases (during period)
|
20.5
|
20.3
|
9.8
|
|
| Of which: financed by Fund borrowings
|
4.2
|
10.3
|
4.7
|
|
| Repurchases (during period)
|
0.7
|
1.9
|
0.4
|
|
| Credit outstanding
|
37.2
|
55.6
|
65.0
|
|
|
|
|
|
|
|
| PRG Trust
|
|
|
|
|
| Disbursements (during period)
|
1.6
|
0.9
|
0.1
|
|
| Repayments (during period)
|
0.5
|
1.1
|
0.1
|
|
| Credit outstanding
|
5.1
|
4.8
|
4.9
|
|
|
|
|
|
|
|
| HIPC (SDR millions)
|
|
|
|
|
| Number of countries
|
35
|
36
|
36
|
|
| Commitments (cumulative)
|
2,349
|
2,416
|
2,416
|
|
| Disbursements (cumulative)
|
1,819
|
2,542
|
2,542
|
|
| Of which: Interim assistance
|
734
|
740
|
740
|
|
| Completion point assistance
|
1,085
|
1,802
|
1,802
|
|
| Memo item: Beyond-HIPC assistance
|
--
|
116
|
116
|
|
|
|
|
|
|
|
| MDRI (SDR millions)
|
|
|
|
|
| Number of countries
|
27
|
30
|
30
|
|
| Total Debt Relief (cumulative)
|
2,732
|
3,537
|
3,537
|
|
| Financed from: MDRI Trusts
|
2,314
|
2,867
|
2,867
|
|
| HIPC Umbrella Account
|
418
|
670
|
670
|
|
|
|
|
|
|
|
| PCDR (SDR millions)
|
|
|
|
|
| Number of countries
|
--
|
1
|
1
|
|
| Total Debt Relief (cumulative)
|
--
|
178
|
178
|
2
|
|
|
|
|
|
|
| Available Resources
|
|
|
|
|
| GRA
|
|
|
|
|
| Usable resources
|
290.2
|
304.8
|
297.1
|
|
| Of which: available Fund borrowings
|
142.5
|
158.9
|
159.1
|
3
|
| Uncommitted usable resources
|
213.1
|
201.0
|
181.4
|
|
| Repurchases one-year forward
|
1.5
|
2.0
|
3.3
|
|
| Repayments of borrowing one-year forward
|
--
|
--
|
--
|
|
| Prudential balance
|
65.3
|
70.8
|
72.4
|
4
|
| One-year forward commitment capacity
(FCC)
|
149.3
|
132.1
|
112.3
|
|
|
|
|
|
|
|
| PRG Trust
|
|
|
|
|
| Total loan resources
|
16.8
|
23.5
|
24.0
|
|
| Cumulative commitments, net
|
16.4
|
17.4
|
17.7
|
|
| Of which: Cumulative disbursements
|
15.0
|
15.9
|
16.1
|
|
| Uncommitted loan resources
|
0.5
|
6.2
|
6.3
|
|
|
|
|
|
|
|
| Arrears
|
|
|
|
|
| GRA
|
1.1
|
1.1
|
1.1
|
|
| PRG Trust
|
0.1
|
0.1
|
0.1
|
|
| Trust Fund and other
|
0.1
|
0.1
|
0.1
|
|
|
|
|
|
|
|
| Rates
|
|
|
|
|
| US$ per SDR
|
1.56769
|
1.54003
|
1.58615
|
|
| SDR interest rate (percent)
|
0.23
|
0.32
|
0.43
|
|
| Rate of charge, adjusted (percent)
|
1.24
|
1.33
|
1.43
|
|
| Rate of remuneration, adjusted (percent)
|
0.22
|
0.31
|
0.43
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1 -- indicates zero value.
Totals may not add due to rounding.
|
|
|
|
|
| 2 Includes
Post-Catastrophe Debt Relief provided to Haiti on July 22, 2010.
|
|
|
|
| 3 Includes
borrowing agreements with Oesterreichische (Austrian) Nationalbank (EUR 2.18
billion), National Bank of Belgium (EUR 4.74 billion), Canada (US$10 billion),
Czech National Bank (EUR 1.03 billion), Danmarks Nationalbank (EUR 1.95
billion), Deutsche Bundesbank (EUR 15 billion), France (EUR 11.06 billion),
Japan (US$100 billion), Banca d'Italia (EUR 8.11 billion), the Central Bank of
Malta (EUR 0.12 billion), De Nederlandsche Bank NV (EUR 5.31 billion), Norges
Bank (SDR 3 billion), Banco de Portugal (EUR 1.06 billion), the
Slovak Republic (EUR 0.44 billion), Bank of Slovenia (EUR 0.28 billion), Spain
(EUR 4.14 billion), Swedish Riksbank (EUR 2.47 billion), the United Kingdom
(SDR 9.92 billion); and note purchase agreements with the Federative Republic
of Brazil (US$ 10 billion), People's Bank of China (SDR 32 billion),
and Reserve Bank of India (US$ 10 billion).
|
|
| 4 Prudential
Balance reflects inclusion of Fund borrowings (see attached definition).
|
|
|
|
| Key IMF
Financial Statistics
|
|
|
| Term
|
Definition
|
|
| Financial Assistance
|
|
| GRA
|
The General Resources Account (GRA)
contains IMF’s holdings of members’ currencies, SDRs, gold, and
other assets. These holdings are principally derived from quota subscription
payments plus any activated borrowings.
|
| Purchases
|
GRA resources disbursed to members during
the period (outflows).
|
| Repurchases
|
GRA resources repaid by members during
the period (inflows).
|
| Credit outstanding
|
Total GRA resources disbursed less
repayments.
|
| PRG Trust
|
The PRG Trust (PRGT) provides financial
support to low-income member countries via concessional loan facilities,
including (i) the Extended Credit Facility (ECF), (ii) the Exogenous Shocks
Facility (ESF), (iii) the Standby Credit Facility (SCF), and (iv) the Rapid
Credit Facility (RCF).
|
| Disbursements
|
Disbursements of ECF, ESF, SCF, RCF loans
during the period.
|
| Repayments
|
Repayments of ECF, ESF, SCF, RCF, and
Structural Adjustment Facility loans during the period.
|
| Credit outstanding
|
Total ECF, ESF, SCF, RCF loan
disbursements less repayments (including credit outstanding under Trust Fund
and Structural Adjustment Facility (SAF)).
|
| HIPC
|
Assistance provided to eligible countries
under the Heavily Indebted Poor Countries (HIPC) Initiative.
|
| Number of countries
|
Number of countries for which HIPC
assistance has been committed.
|
| Commitments
|
Cumulative commitments made to
HIPC-eligible members that have reached the decision point under the HIPC
Initiative; includes amounts that the IMF has indicated will be committed
subject to satisfactory assurances regarding exceptional assistance to be
provided by other creditors under the HIPC Initiative.
|
| Disbursements
|
Cumulative grants to members eligible for
financial assistance under the HIPC Initiative to be used to help meet debt
service payments to the IMF.
|
| Of which:
|
|
| Interim assistance
|
Cumulative grants to members between
their decision and completion points.
|
| Completion point assistance
|
Final grants to members at their
completion points.
|
| MDRI
|
The Multilateral Debt Relief Initiative
(MDRI) provides 100% debt relief to eligible member countries that are
qualified for the assistance. The debt relief covers the full stock of debt
owed to the Fund as of end-2004, and still outstanding at the time the country
qualifies for such debt relief.
|
| Number of countries
|
Number of countries which have received
MDRI debt relief.
|
| Total Debt Relief
|
|
| Financed from
|
|
| MDRI Trusts
|
MDRI resources (excluding HIPC debt
relief) disbursed to members during the period.
|
| HIPC Umbrella Account
|
HIPC resources used as debt relief under
the MDRI during the period.
|
|
|
|
| PCDR
|
The Post-Catastrophe Debt Relief (PCDR)
Trust provides 100% debt relief to eligible member countries that are qualified
for the assistance.
|
| Number of countries
|
Number of countries which have received
Post-Catastrophe Debt Relief.
|
| Total Debt Relief
|
|
| Financed from the
|
|
| PCDR Trust
|
PCDR resources (excluding HIPC debt
relief) disbursed to members during the period.
|
|
|
|
| Available Resources
|
|
| GRA
|
|
| Usable resources
|
Usable resources consist of: (i) the
IMF’s holdings of the currencies of members considered by the Executive
Board to have a sufficiently strong balance of payments and reserve position
for their currencies to be used in the financing of IMF transactions (see
Financial Transactions:
http://www.imf.org/cgi-shl/create_x.pl?ftp),
(ii) holdings of SDRs, and (iii) unused amounts, if any, under credit lines
already activated, such as under the General Arrangements to Borrow and New
Arrangements to Borrow (GAB/NAB) and resources available under other Fund
borrowing agreements and notes purchase agreements.
|
Uncommitted usable
resources
|
Usable resources less the full amount of
undrawn balances under existing arrangements.
|
| Repurchases one-year forward
|
Repayments by member countries during the
coming one-year period. These repurchases add to the supply of the IMF’s
usable resources. It is assumed that repurchases would be made on an
expectations basis for the SRF, and on an obligations basis under all other
facilities (see Terms of IMF Lending:
http://www.imf.org/external/np/exr/facts/howlend.htm)
|
| Repayments of borrowings one-year forward
|
Repayment obligations on Fund borrowing
and note placements in the coming one-year period, including drawings and notes
reaching final maturity in the next 12 months plus any encashment requests for
early repayment to be met over that same period.
|
| Prudential balance
|
Amount set aside to safeguard the
liquidity of creditors’ claims and take account of the potential erosion
of the IMF’s resource base. The prudential balance is set at 20 percent
of the quotas of members that issue the currencies that are used in the
financing of IMF transactions and any amounts activated under GAB/NAB borrowing
arrangements or otherwise made available under bilateral borrowing and notes
purchase agreements that are fully in place (excluding repayments of borrowing
due in the coming one-year period). The prudential ratio of 20 percent as
decided by the IMF’s Executive Board reflects historical experience and
judgments on the indicative level of uncommitted usable resources that the IMF
would normally not use to make financial commitments. The prudential balance
does not represent a rigid minimum and IMF resources could on a strictly
temporary basis, fall below this level.
|
| One-year forward commitment capacity
|
A measure of the resources available for
new financial commitments in the coming year, equal to uncommitted usable
resources plus repurchases one-year forward less repayments of borrowing due
one-year forward and less the prudential balance.
|
|
|
|
| PRG Trust
|
Trust administered by the IMF to conduct
concessional lending operations through the Loan, Reserve and Subsidy Accounts.
|
| Available loan resources
|
Loan Account resources committed by
lenders to the PRG Trust.
|
| Cumulative commitments, net
|
Cumulative commitments to borrowers, net
of unused amounts under arrangements which have expired or have been canceled.
|
| Of which: Cumulative disbursements
|
Disbursements to borrowers under PRGT
arrangements.
|
| Uncommitted loan resources
|
Available PRGT loan resources less
commitments made to eligible member countries.
|
| Arrears Outstanding
|
|
| GRA
|
Total overdue GRA financial obligations.
|
| PRG
|
Total overdue PRGT financial obligations.
|
| Trust Fund and other
|
Total overdue financial obligations to
the Trust Fund and Structural Adjustment Facility (SAF). Although the Trust
Fund and SAF are no longer operational, arrears to the Trust Fund and SAF
consist of overdue repayments, interest, or charges on loans provided under
these facilities.
|
| Rates
|
|
| US$ per SDR
|
Exchange rate for the SDR in terms of
U.S. dollars. The method for valuing the SDR was revised effective January 1,
2011.
|
|
|
(See:
http://www.imf.org/external/np/tre/sdr/basket.htm)
|
| SDR interest rate
|
Interest rate calculated as a weighted
average of three month market interest rates on U.S. dollar, euro, Japanese yen
and pound sterling assets. The method for valuing the SDR interest rate was
revised effective January 7, 2011.
|
|
|
(See:
http://www.imf.org/external/np/tre/tad/sdr_ir.cfm)
|
| Rate of Charge, adjusted
|
The basic rate of charge on GRA loans is
equal to the SDR interest rate plus 100 basis points to cover the IMF's cost of
financing, additions to reserves, and administrative expenses; and further
adjusted by a small margin to compensate for income forgone because of charges
in arrears.
|
| Rate of remuneration, adjusted
|
Interest rate paid to members that
provide resources to the IMF. Adjusted by a small margin to allow for special
additions to reserves and to compensate for income forgone because of charges
in arrears.
|
| Investments
|
|
| Amount
|
PRG, PRG-HIPC and MDRI Trust resources
invested in short-term deposits and medium-term instruments with the Bank for
International Settlements (BIS) and bond portfolios managed by the World Bank
and private investment managers. Data from the first quarter of 2000 onward
also include sight deposits. The SDA contains the profits (sales proceeds minus
the value of the gold at the acquisition cost) from sales of the IMF's gold
holdings.
|
| Average yield (percent)
|
Weighted average yield on time deposits,
two days' notice accounts, demand deposit accounts, and fixed income
securities.
|
| Average maturity (months)
|
Weighted average of remaining maturity of
resources placed in time deposits and the modified duration of fixed income
securities.
|
| Table
2a. Current Financial Arrangements (GRA)
|
| as of
March 17, 2011
|
| (In millions
of SDRs, unless indicated otherwise)1
|
(For
definitions, see below)
|
|
|
| Member
|
Effective
|
Expiration
|
Amount
|
Undrawn
|
GRA Credit
|
Date
|
Date
|
Agreed
|
Balance
|
Outstanding
|
As
percent of Quota
|
|
|
|
|
|
|
|
|
| Stand-by Arrangements
|
|
|
|
|
|
|
|
|
|
| Angola
|
11/23/09
|
2/22/12
|
859
|
172
|
687
|
240
|
| Antigua and Barbuda
|
6/7/10
|
6/6/13
|
81
|
61
|
20
|
150
|
| Bosnia
|
7/8/09
|
6/30/12
|
1,015
|
676
|
338
|
200
|
| Dominican Republic
|
11/9/09
|
3/8/12
|
1,095
|
547
|
713
|
326
|
| El Salvador3
|
3/17/10
|
3/16/13
|
514
|
514
|
--
|
--
|
| Georgia
|
9/15/08
|
6/14/11
|
747
|
170
|
577
|
384
|
| Greece
|
5/9/10
|
5/8/13
|
26,433
|
13,697
|
12,736
|
1,547
|
| Honduras3
|
10/1/10
|
3/31/12
|
65
|
65
|
--
|
--
|
| Iceland
|
11/19/08
|
8/31/11
|
1,400
|
420
|
980
|
833
|
| Iraq
|
2/24/10
|
2/23/12
|
2,377
|
1,604
|
772
|
65
|
| Jamaica
|
2/4/10
|
5/3/12
|
821
|
279
|
542
|
198
|
| Kosovo
|
7/21/10
|
1/20/12
|
93
|
74
|
19
|
32
|
| Latvia
|
12/23/08
|
12/22/11
|
1,522
|
539
|
982
|
691
|
| Maldives
|
12/4/09
|
12/3/12
|
49
|
41
|
8
|
82
|
| Pakistan
|
11/24/08
|
9/30/11
|
7,236
|
2,300
|
5,233
|
506
|
| Romania
|
5/4/09
|
5/3/11
|
11,443
|
874
|
10,569
|
1,026
|
| Serbia, Republic of
|
1/16/09
|
4/15/11
|
2,619
|
1,298
|
1,321
|
282
|
| Sri Lanka
|
7/24/09
|
7/23/12
|
1,654
|
689
|
970
|
235
|
| Ukraine
|
7/28/10
|
12/27/12
|
10,000
|
7,750
|
9,250
|
674
|
|
|
|
|
|
|
|
|
| 19 Arrangements
|
|
|
70,020
|
31,770
|
45,718
|
|
|
|
|
|
|
|
|
|
| Extended Arrangements
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Armenia
|
6/28/10
|
6/27/13
|
133
|
98
|
385
|
419
|
| Ireland
|
12/16/10
|
12/15/13
|
19,466
|
14,453
|
5,012
|
399
|
| Moldova
|
1/29/10
|
1/28/13
|
185
|
145
|
40
|
32
|
| Seychelles
|
12/23/09
|
12/22/12
|
20
|
11
|
20
|
230
|
|
|
|
|
|
|
|
|
| 4 Arrangements
|
|
|
19,804
|
14,707
|
5,458
|
|
|
|
|
|
|
|
|
|
| Flexible Credit Line
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Colombia3
|
5/7/10
|
5/6/11
|
2,322
|
2,322
|
--
|
--
|
| Mexico3
|
1/10/11
|
1/9/13
|
47,292
|
47,292
|
--
|
--
|
| Poland3
|
1/21/11
|
1/20/13
|
19,166
|
19,166
|
--
|
--
|
|
|
|
|
|
|
|
|
| 3 Arrangements
|
|
|
68,780
|
68,780
|
--
|
|
|
|
|
|
|
|
|
|
| Precautionary Credit Line
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Macedonia3
|
1/19/11
|
1/18/13
|
413
|
413
|
--
|
--
|
|
|
|
|
|
|
|
|
| 1 Arrangement
|
|
|
413
|
413
|
--
|
|
|
|
|
|
|
|
|
|
| Total 27 SBA, EFF, FCL, and PCL
|
|
|
159,017
|
115,671
|
51,176
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1 -- indicates
zero value. Totals may not add due to rounding.
|
|
|
|
|
| 2 Includes credit
outstanding under the member's expired arrangements.
|
|
|
|
| 3 Treated as
precautionary by the authorities.
|
|
|
|
|
|
| Table
2b. Current Financial Arrangements (PRGT)
|
| as of
March 17, 2011
|
| (In millions
of SDRs, unless indicated otherwise)1
|
(For
definitions, see below)
|
|
|
|
|
|
|
|
|
| Member
|
Effective
|
Expiration
|
Amount
|
Undrawn
|
PRGT
Loans
|
Date
|
Date
|
Agreed
|
Balance
|
Outstanding
2
|
As
percent of Quota
|
|
|
|
|
|
|
|
|
| Extended Credit Facility
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Armenia
|
6/28/10
|
6/27/13
|
133
|
96
|
96
|
104
|
| Benin
|
6/14/10
|
9/13/13
|
74
|
53
|
46
|
74
|
| Burkina Faso
|
6/14/10
|
6/13/13
|
46
|
32
|
83
|
138
|
| Burundi
|
7/7/08
|
8/31/11
|
46
|
13
|
70
|
92
|
| Comoros
|
9/21/09
|
9/20/12
|
14
|
6
|
10
|
108
|
| Congo, Dem.Rep.of
|
12/11/09
|
12/10/12
|
346
|
198
|
259
|
49
|
| Congo, Rep. of
|
12/8/08
|
12/7/11
|
8
|
2
|
19
|
22
|
| Côte d'Ivoire
|
3/27/09
|
3/26/12
|
374
|
143
|
248
|
76
|
| Djibouti
|
9/17/08
|
6/16/12
|
13
|
4
|
11
|
68
|
| Gambia, The
|
2/21/07
|
3/31/11
|
25
|
2
|
23
|
73
|
| Ghana
|
7/15/09
|
7/14/12
|
387
|
238
|
252
|
68
|
| Grenada
|
4/18/10
|
4/17/13
|
9
|
6
|
19
|
162
|
| Guinea-Bissau
|
5/7/10
|
5/6/13
|
22
|
12
|
2
|
17
|
| Haiti
|
7/21/10
|
7/20/13
|
41
|
33
|
8
|
10
|
| Kenya
|
1/31/11
|
1/30/14
|
326
|
261
|
331
|
122
|
| Lesotho
|
6/2/10
|
6/1/13
|
42
|
34
|
17
|
49
|
| Liberia
|
3/14/08
|
6/29/11
|
239
|
4
|
29
|
22
|
| Malawi
|
2/19/10
|
2/18/13
|
52
|
38
|
95
|
137
|
| Mali
|
5/28/08
|
12/31/11
|
28
|
2
|
34
|
36
|
| Mauritania
|
3/15/10
|
3/14/13
|
77
|
55
|
32
|
50
|
| Moldova
|
1/29/10
|
1/28/13
|
185
|
105
|
171
|
139
|
| Nicaragua
|
10/5/07
|
12/4/11
|
78
|
11
|
109
|
84
|
| Niger
|
6/2/08
|
6/1/11
|
23
|
10
|
39
|
60
|
| São Tomé and Príncipe
|
3/2/09
|
3/1/12
|
3
|
2
|
3
|
43
|
| Sierra Leone
|
7/1/10
|
6/30/13
|
31
|
22
|
73
|
71
|
| Tajikistan
|
4/21/09
|
4/20/12
|
104
|
39
|
65
|
75
|
| Togo
|
4/21/08
|
8/31/11
|
95
|
9
|
86
|
118
|
| Yemen, Republic of
|
7/30/10
|
7/29/13
|
244
|
209
|
49
|
20
|
| Zambia
|
6/4/08
|
6/3/11
|
220
|
18
|
256
|
52
|
|
|
|
|
|
|
|
|
| 29 Arrangements
|
|
|
3,286
|
1,660
|
2,535
|
|
|
|
|
|
|
|
|
|
| Exogenous Shocks Facility
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maldives
|
12/4/09
|
12/3/11
|
8
|
6
|
2
|
21
|
|
|
|
|
|
|
|
|
| 1 Arrangement
|
|
|
8
|
6
|
2
|
|
|
|
|
|
|
|
|
|
| Standby Credit Facility
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Honduras3
|
10/1/10
|
3/31/12
|
65
|
65
|
19
|
15
|
| Solomon Islands
|
6/2/10
|
12/1/11
|
12
|
6
|
6
|
60
|
|
|
|
|
|
|
|
|
| 2 Arrangements
|
|
|
77
|
71
|
26
|
|
|
|
|
|
|
|
|
|
| Total 32 ECF, ESF, and SCF
|
|
|
3,372
|
1,737
|
2,563
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1 -- indicates zero value.
Totals may not add due to rounding.
|
|
|
|
|
| 2 Includes credit
outstanding under the member's expired arrangements.
|
|
|
|
| 3 Treated as
precautionary by the authorities.
|
|
|
|
|
|
| Current
Financial Arrangements (GRA, PRG)
|
|
|
| Term
|
Definition
|
|
| Arrangements
|
IMF credit is made available under a
variety of borrowing arrangements with different disbursement schedules and
maturities depending on the balance of payment needs of the member.
|
| GRA
|
|
| Stand-By Arrangements
|
The most common type of credit
arrangement designed to provide short-term financial assistance. Purchases
under Stand-By Arrangements are repayable in 8 quarterly installments 3¼ -
5 years after disbursement.
|
| Extended Arrangements
|
Extended Arrangements provide credit for
a longer period since these arrangements usually require fundamental reforms
which may need more time to put in place and take effect. Drawings under
extended arrangements are repayable in 12 semiannual installments 4½ - 10
years after disbursement.
|
| Flexible Credit Line
|
The Flexible Credit Line (FCL) has been
established to allow members with very strong track records to access IMF
resources based on pre-set qualification criteria to deal with all types of
balance of payments problems. The FCL could be used both on a precautionary
(crisis prevention) and nonprecautionary (crisis resolution) basis. Members may
request either a one-year arrangement with no interim reviews, or a two-year
arrangement with an interim review of qualification required after twelve
months. Upon expiration, the Fund may approve additional FCL arrangements for
the member. Access is determined based on individual country financing needs
and is not subject to a pre-set cap. Purchases under FCL arrangements are
repayable in 8 quarterly installments 3¼ - 5 years after disbursement.
|
| Precautionary Credit Line
|
The Precautionary Credit Line (PCL) has
been established to provide effective crisis prevention to members with sound
fundamentals, policies, and institutional policy frameworks that have no actual
balance of payments need at the time of approval of the PCL, but moderate
vulnerabilities that would not meet the FCL’s qualification standard.
Members may request an arrangement with duration of between one and two years.
Access under an arrangement with one-year duration shall not exceed 500 percent
of quota, with the entire amount being made available upon approval of such
arrangement and remaining available throughout the arrangement period subject
to an interim six-monthly review. Access under an arrangement with a duration
of more than one year shall not exceed 1000 percent of quota, with an initial
amount not in excess of 500 percent being made available upon approval of the
arrangement and the remaining amount being made available at the beginning of
the second year of the arrangement subject to completion of the relevant
six-monthly review. Purchases under PCL arrangements are repayable in 8
quarterly installments 3¼ - 5 years after disbursement.
|
| PRG Trust
|
|
| ECF Arrangements
|
Concessional arrangements providing
credit in support of a three-year macroeconomic and structural adjustment
program to eligible low-income members facing protracted balance of payment
issues (formerly known as PRGF). The loans are repayable in 10 equal semiannual
installments 5½ - 10 years after disbursement.
|
| ESF Arrangements
|
Concessional arrangements ranging from
one to two years to provide financial assistance to low-income countries that
are experiencing exogenous shocks but do not have an ECF arrangement in place.
The repayment terms are identical to ECF arrangements.
|
| SCF Arrangements
|
Concessional arrangements ranging from
one to two years to provide financial assistance to low-income countries that
are experiencing short-term but not protracted balance of payments needs. The
loans are repayable in 9 equal semiannual installments 4 - 8 years after
disbursement.
|
|
|
Interest on all PRGT loans (including
outright drawings under the RCF) has been waived through end-December 2011.
|
| Arrangement Details
|
IMF financial arrangements are reviewed
regularly to assess progress in policy reforms. The disbursement of funds under
an arrangement is linked to the achievement of certain financial targets.
|
| Next Scheduled Review
|
Expected date the arrangement will be
reviewed by the Executive Board.
|
| Date of Approval
|
Date the arrangement was approved by the
Executive Board.
|
| Date of Expiration
|
Arrangements have a specified duration.
Commitments are no longer available after the expiration of the arrangement.
|
| Amount Agreed
|
Amount of credit available under an
arrangement.
|
| Undrawn Balance
|
Amount of credit available under an
arrangement but not yet drawn.
|
| Total Credit Outstanding
|
Total unpaid and outstanding principal
due to the IMF under existing and expired arrangements.
|
| Total Credit Outstanding as
|
|
| percent of quota
|
Total credit outstanding in terms of
member's quota.
|
| Drawings available Thru End-2011
|
Credit available to a member under an
arrangement (including expected augmentation of PRGT arrangements) through the
end of 2011.
|
| Scheduled Repayments Thru End-2011
|
The amount of funds scheduled to be
repaid by the member through the end of 2011.
|
| Table
3. Status of Commitments of IMF HIPC Assistance
|
| as of
March 17, 2011
|
| (In millions
of SDRs)1
|
(For
definitions, see below)
|
|
|
|
|
|
|
|
|
Member
|
Decision
Point
|
Completion
Point
|
Amount
Committed
|
Amount
Disbursed 2
|
|
|
|
|
|
|
|
|
| Under the Original HIPC Initiative
|
|
|
|
|
|
|
| Bolivia
|
Sep. 1997
|
Sep. 1998
|
21.2
|
|
21.2
|
|
| Burkina Faso
|
Sep. 1997
|
Jul. 2000
|
16.3
|
|
16.3
|
|
| Côte d'Ivoire
|
Mar. 1998
|
--
|
16.7
|
3
|
--
|
|
| Guyana
|
Dec. 1997
|
May. 1999
|
25.6
|
|
25.6
|
|
| Mali
|
Sep. 1998
|
Sep. 2000
|
10.8
|
|
10.8
|
|
| Mozambique
|
Apr. 1998
|
Jun. 1999
|
93.2
|
|
93.2
|
|
| Uganda
|
Apr. 1997
|
Apr. 1998
|
51.5
|
|
51.5
|
|
| Total Original HIPC
|
|
|
235.3
|
|
218.6
|
|
|
|
|
|
|
|
|
|
| Under the Enhanced HIPC Initiative
|
|
|
|
|
|
|
| Afghanistan
|
Jul. 2007
|
Jan. 2010
|
--
|
4
|
--
|
|
| Benin
|
Jul. 2000
|
Mar. 2003
|
18.4
|
|
20.1
|
|
| Bolivia
|
Feb. 2000
|
Jun. 2001
|
41.1
|
|
44.2
|
|
| Burkina Faso
|
Jul. 2000
|
Apr. 2002
|
27.7
|
|
29.7
|
|
| Burundi
|
Aug. 2005
|
Jan. 2009
|
19.3
|
|
22.4
|
|
| Cameroon
|
Oct. 2000
|
Apr. 2006
|
28.6
|
|
33.7
|
|
| Central African Republic
|
Sep. 2007
|
Jun. 2009
|
17.2
|
|
18.1
|
|
| Chad
|
May. 2001
|
Floating
|
14.3
|
|
8.6
|
|
| Comoros
|
Jul. 2010
|
Floating
|
2.9
|
|
--
|
|
| Congo, Dem. Rep. of
|
Jul. 2003
|
Jul. 2010
|
280.3
|
|
330.7
|
|
| Congo, Rep. of
|
Mar. 2006
|
Jan. 2010
|
5.4
|
|
6.3
|
|
| Côte d'Ivoire
|
Apr. 2009
|
Floating
|
25.2
|
|
10.1
|
|
| Ethiopia
|
Nov. 2001
|
Apr. 2004
|
45.1
|
|
46.7
|
|
| Gambia, The
|
Dec. 2000
|
Dec. 2007
|
1.8
|
|
2.3
|
|
| Ghana
|
Feb. 2002
|
Jul. 2004
|
90.1
|
|
94.3
|
|
| Guinea
|
Dec. 2000
|
Floating
|
24.2
|
|
10.0
|
|
| Guinea-Bissau
|
Dec. 2000
|
Dec. 2010
|
9.2
|
|
9.4
|
|
| Guyana
|
Nov. 2000
|
Dec. 2003
|
31.1
|
|
34.0
|
|
| Haiti
|
Nov. 2006
|
Jun. 2009
|
2.1
|
|
2.3
|
|
| Honduras
|
Jun. 2000
|
Apr. 2005
|
22.7
|
|
26.4
|
|
| Liberia
|
Mar. 2008
|
Jun. 2010
|
440.9
|
|
451.9
|
5
|
| Madagascar
|
Dec. 2000
|
Oct. 2004
|
14.7
|
|
16.4
|
|
| Malawi
|
Dec. 2000
|
Aug. 2006
|
33.4
|
|
37.2
|
|
| Mali
|
Sep. 2000
|
Mar. 2003
|
34.7
|
|
38.5
|
|
| Mauritania
|
Feb. 2000
|
Jun. 2002
|
34.8
|
|
38.4
|
|
| Mozambique
|
Apr. 2000
|
Sep. 2001
|
13.7
|
|
14.8
|
|
| Nicaragua
|
Dec. 2000
|
Jan. 2004
|
63.5
|
|
71.2
|
|
| Niger
|
Dec. 2000
|
Apr. 2004
|
31.2
|
|
34.0
|
|
| Rwanda
|
Dec. 2000
|
Apr. 2005
|
46.8
|
|
50.6
|
|
| São Tomé and Príncipe
|
Dec. 2000
|
Mar. 2007
|
0.8
|
|
0.9
|
|
| Senegal
|
Jun. 2000
|
Apr. 2004
|
33.8
|
|
38.4
|
|
| Sierra Leone
|
Mar. 2002
|
Dec. 2006
|
100.0
|
|
106.6
|
|
| Tanzania
|
Apr. 2000
|
Nov. 2001
|
89.0
|
|
96.4
|
|
| Togo
|
Nov. 2008
|
Dec. 2010
|
0.2
|
|
0.2
|
|
| Uganda
|
Feb. 2000
|
May. 2000
|
68.1
|
|
70.2
|
|
| Zambia
|
Dec. 2000
|
Apr. 2005
|
468.8
|
|
508.3
|
|
| Total Enhanced HIPC
|
|
|
2,181.1
|
|
2,323.0
|
|
|
|
|
|
|
|
|
|
| Grand Total
|
|
|
2,416.4
|
|
2,541.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1 -- indicates
zero value. Totals may not add due to rounding.
|
|
|
|
|
|
| 2
Includes interest on amounts committed under the Enhanced HIPC Initiative.
|
|
| 3
Equivalent to the committed amount of US $22.5 million at decision point
exchange rates (3/17/98).
|
|
| 4
At the time of its decision point, Afghanistan did not have any outstanding
eligible debt.
|
|
| 5 Does not include
beyond-HIPC assistance of SDR 116.2 million.
|
|
| Status of
Commitments of HIPC Assistance
|
|
|
| Term
|
Definition
|
|
| Decision Point
|
Point at which the IMF decides whether a
member qualifies for assistance under the HIPC Initiative (normally at the end
of the initial three-year performance period) and decides on the amount of
assistance to be committed.
|
| Completion Point
|
Point at which the country receives the
bulk of its assistance under the HIPC Initiative, without any further policy
conditions. Under the enhanced HIPC Initiative, the timing of the completion
point is linked to the implementation of pre-agreed key structural reforms
(i.e., floating completion point).
|
| Amount Committed
|
Amount of HIPC assistance determined, in
consultation with the World Bank, at the decision point to be made available by
the IMF.
|
| Amount Disbursed
|
Resources disbursed to the member to help
meet debt service payments to the IMF. Disbursements are normally dependent on
receipt of sufficient financing assurances from other creditors.
|
| Table
4. Status of Multilateral Debt Relief Initiative Assistance
|
| as of
March 17, 2011
|
| (In millions
of SDRs)1
|
(For
definitions, see below)
|
|
|
|
|
|
|
| Member
|
Delivery
|
Eligible Debt
|
| Date
|
GRA 2
|
PRGT
|
|
|
|
|
|
|
| Benin
|
01/06/06
|
--
|
36.1
|
36.1
|
| Bolivia
|
01/06/06
|
89.8
|
71.2
|
160.9
|
| Burkina Faso
|
01/06/06
|
--
|
62.1
|
62.1
|
| Burundi
|
02/02/09
|
|
26.4
|
26.4
|
| Cambodia
|
01/06/06
|
--
|
56.8
|
56.8
|
| Cameroon
|
04/28/06
|
--
|
173.3
|
173.3
|
| Central African Republic
|
07/02/09
|
--
|
4.0
|
4.0
|
| Congo, Dem. Rep. of
|
07/06/10
|
--
|
248.1
|
248.1
|
| Congo, Rep. of
|
01/28/10
|
--
|
7.9
|
7.9
|
| Ethiopia
|
01/06/06
|
--
|
112.1
|
112.1
|
| Gambia, The
|
12/20/07
|
--
|
9.4
|
9.4
|
| Ghana
|
01/06/06
|
--
|
265.4
|
265.4
|
| Guinea-Bissau
|
12/17/10
|
--
|
0.5
|
0.5
|
| Guyana
|
01/06/06
|
--
|
45.1
|
45.1
|
| Honduras
|
01/06/06
|
--
|
107.5
|
107.5
|
| Madagascar
|
01/06/06
|
--
|
137.3
|
137.3
|
| Malawi
|
09/01/06 - 12/19/06 3
|
10.8
|
27.0
|
37.9
|
| Mali
|
01/06/06
|
--
|
75.1
|
75.1
|
| Mauritania
|
06/22/06
|
--
|
32.9
|
32.9
|
| Mozambique
|
01/06/06
|
--
|
106.6
|
106.6
|
| Nicaragua
|
01/06/06
|
--
|
140.5
|
140.5
|
| Niger
|
01/06/06
|
--
|
77.6
|
77.6
|
| Rwanda
|
01/06/06
|
--
|
52.7
|
52.7
|
| São Tomé and Príncipe
|
03/19/07 - 12/28/07 4
|
--
|
1.4
|
1.4
|
| Senegal
|
01/06/06
|
--
|
100.3
|
100.3
|
| Sierra Leone
|
12/18/06
|
--
|
117.3
|
117.3
|
| Tajikistan
|
01/06/06
|
--
|
69.3
|
69.3
|
| Tanzania
|
01/06/06
|
--
|
234.0
|
234.0
|
| Uganda
|
01/06/06
|
--
|
87.7
|
87.7
|
| Zambia
|
01/06/06
|
--
|
402.6
|
402.6
|
|
|
|
|
|
|
| Total
|
|
100.6
|
2,888.1
|
2,988.7
|
|
|
|
|
|
|
| 1 Excluding HIPC
and Beyond-HIPC assistance of SDR 548.5 million provided to Liberia in June
2010.
|
|
| 2 -- indicates
zero value. Totals may not add due to rounding.
|
|
|
|
| 3 MDRI assistance
to Malawi was delivered in September 2006. Following the receipt of
satisfactory financing assurances from other creditors, Malawi received
additional MDRI assistance financed from HIPC topping-up assistance in December
2006.
|
| 4 MDRI assistance
to São Tomé and Príncipe was delivered in March 2007. Following
the receipt of satisfactory financing assurances from other creditors, São
Tomé and Príncipe received additional MDRI assistance financed from
HIPC topping-up assistance in December 2007.
|
| Status of
Multilateral Debt Relief Initiative Assistance
|
|
|
|
| Term
|
Definition
|
|
| Debt Relief Delivery Date
|
The effective date of delivery of MDRI
assistance to qualified members.
|
| Eligible Debt
|
|
| GRA
|
Assistance that covers credit outstanding
under the GRA
|
| PRG
|
Assistance that covers credit outstanding
under the PRG Trust
|
|
