Review of The Cumulative Access Limits Under The Rapid Financing Instrument and The Rapid Credit Facility

June 30, 2023

Preview Citation

Format: Chicago

Review of The Cumulative Access Limits Under The Rapid Financing Instrument and The Rapid Credit Facility, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

The IMF extended the temporarily higher Cumulative Access Limits under the Fund’s Emergency Financing instruments, the Rapid Financing Instrument (RFI) under the General Resources Account, and the Rapid Credit Facility (RCF) under the Poverty Reduction and Growth Trust. This extension ensures that the Fund can continue to support member countries that accessed Fund’s emergency financing during COVID-19 pandemic in case of renewed emergency situations. The temporarily higher cumulative access limits under the RFI will be maintained until end-June 2024 when most RFI recipients will have repaid a significant part of their past emergency financing. The temporarily higher cumulative access limits under the RCF will be maintained until the completion of the 2024/25 comprehensive review of the Fund’s concessional facilities and financing, given the longer repayment schedule for RCF financing.

Subject: Balance of payments, Foreign aid, Health, Monetary policy, Money, Political economy

Keywords: Balance of payments need, COVID-19, Credit, Cumulative Access Limits, Emergency assistance, FSW experience, FSW financing, FSW relative, Global, LND window, Rapid Credit Facility, Rapid Financing Instrument, RCF ES window, RFI recipient, UCT-quality program

Publication Details

Pages:

24
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2023/031
Stock No:

PPEA2023031
ISBN:

9798400248290
ISSN:

2663-3493

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