Executive Board Assessment of the Review of Contingent Credit Lines, March 14, 2003,
March 20, 2003

Related to the CCL review:

Public Information Notice: IMF Concludes Discussion on the Review of Contingent Credit Lines,
December 19, 2003

Statement by the Staff: Completion of the Review of the Contingent Credit Lines and Consideration of Some Possible Alternatives,
November 18, 2003

Completion of the Review of the Contingent Credit Lines and Consideration of Some Possible Alternatives,
November 12, 2003

Executive Board Assessment of Adapting Precautionary Arrangements to Crisis Prevention on June 30, 2003
July 9, 2003

Adapting Precautionary Arrangements to Crisis Prevention,
June 11, 2003

The IMF's Contingent Credit Lines -- A Factsheet

Review of Contingent Credit Lines

Prepared by the Policy Development and Review Department

In Consultation with Other Departments

Approved by Timothy Geithner

February 11, 2003

Use the free Adobe Acrobat Reader to view this pdf file (348 kb).

The views expressed in this paper are those of the staff and do not necessarily reflect the views of the Executive Board of the IMF. The Executive Board's assessment is summarized in the Public Information Notice. Some country-specific or market-sensitive information may have been deleted from this paper, as allowed by the IMF's publication policy.

Contents

  1. Introduction

  2. Experience With the CCL

  3. Factors Affecting Take-Up of CCL

  4. Potential CCL Design Modifications

    1. Substantive Criteria for Eligibility
    2. Process for Assessing Eligibility
    3. Automaticity and Circumstances Test
    4. Other Design Modifications

  5. Broad Packages of Modifications
    1. Option One-Public Prequalification
    2. Option Two-Graduated Assessment
    3. Option Three-CCL Expiry

  6. Conclusions and Issues for Discussion

Text Boxes
1. Summary of Possible CCL Design Modifications
2. Options for Going Forward

Figure
1. Timeline for Request and Use of a CCL

Annexes
I.  Operational Features of the CCL (as Amended November 2000)
II.  Proposals to Improve the Effectiveness of the CCL and Outreach Consultations
III.  Possible CCL Eligibility Criteria for Constrained Discretion