Technical Note on Synchronized Approval of Flexible Credit Lines for Multiple Countries

October 26, 2010

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Format: Chicago

Technical Note on Synchronized Approval of Flexible Credit Lines for Multiple Countries , (USA: International Monetary Fund, 0) accessed November 21, 2024

Summary

As foreshadowed in the Executive Board Report to the IMFC on the Fund’s Mandate, this technical note sketches the procedures under which synchronized approval of Flexible Credit Line (FCL) arrangements for multiple member countries could be undertaken under the existing FCL Decision and other Fund policies.1 When multiple members face the same shock, synchronized approval of FCL arrangements could strengthen the effectiveness of the response to the common shock and minimize first-mover problems. This technical note neither modifies existing Fund policies, nor establishes a new financing instrument.

Subject: Access to Fund general resources, Confidentiality, Crisis prevention, Extended arrangement requests, Flexible Credit Line, Fund approval, Fund policies, Precautionary Credit Line

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