• News
  • Technology
  • Culture
  • Entertainment
  • Sport
  • Travel
  • Music
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Sunday, February 5, 2023
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
ADVERTISEMENT
Home Business Finance

IMF Executive Board Approves Reform Package to Enhance Support to Low-Income Countries

by The FINANCIAL
June 8, 2019
in Finance
0
Share on FacebookShare on Twitter

On May 24, 2019 the Executive Board of the International Monetary Fund (IMF) concluded the 2018-19 Review of Facilities for Low-Income Countries—Reform Proposals (“Facilities Review”) and the companion Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries (“Financing Review”).

The current framework for IMF concessional lending and program support for low-income countries (LICs), established in 2009, includes three lending facilities and one non-financial instrument. The Extended Credit Facility (ECF) is used to provide financial support to countries facing protracted balance of payments problems; the Standby Credit Facility (SCF) is used to provide financial support to countries facing actual or potential short-term balance of balance of payments needs; and the Rapid Credit Facility (RCF) is used to provide emergency financing to countries facing urgent balance of payments needs, including as a result of natural disasters, fragility or conflict situations, and other adverse shocks. The Policy Support Instrument (PSI) is used by countries that have a broadly stable macroeconomic position who wish to provide a signal to private investors and development partners regarding the strength of their economic policies along with a framework for provision of Fund policy advice and technical assistance.

Financial support under the IMF’s LIC facilities is provided on concessional terms, with the interest rate set at zero since 2009. [1] Subsidies needed to lend at concessional interest rates are provided by the Poverty Reduction and Growth Trust (PRGT), which is administered by the IMF. The PRGT operates on a self-sustaining basis, with income from investments of the resources in the trust fund covering the costs of these subsidies over time. Given the size of the trust fund, there are annual and cumulative limits on the amounts eligible countries can borrow on concessional terms to ensure that the PRGT is not depleted.

RelatedPosts

If a blockchain became more critical to the financial system, how should it be governed?

EBRD and FAO mark 25 years of cooperation with US$ 5.5 million initiative

Kosovo becomes first Western Balkans economy to use solar energy for district heating

New Multi-Donor Trust Fund Established to Channel Donor Support to Ukraine

The 2018-19 review of the LIC facilities framework reviews the experience with use of the facilities since they were established and draws lessons on how the facilities might be adjusted to better meet the needs of LICs in the context of the changing economic landscape that they face. The review takes place against the backdrop of rising income levels in most LICs, along with greater trade and financial integration of LICs into the global economy. This has implied a gradual erosion of the limits on access to concessional financing relative to LICs’ GDP levels and external financing needs since the last access increase in 2015. Several countries have experienced a sharp increase in temporary financing needs as a result of falling export prices, while the increasing frequency and intensity of natural disasters has led to greater demand for emergency financing. At the same time, debt vulnerabilities have risen across many countries, while fragility and institutional weaknesses continue to impede economic progress in a wide range of countries.

The staff papers prepared for Board discussion concluded that the general framework of IMF facilities for LICs remains broadly appropriate, while noting that some changes were warranted to respond to evolving challenges. Reforms proposed included:

· An increase in access limits and norms, within the financing constraints of the self-sustained PRGT, to address erosion of access limits.

· Better tailoring of LIC facilities to the needs of fragile and conflict-affected states and to states vulnerable to natural disasters, including through increased access to the RCF.

· Better targeting of scarce subsidy resources to the poorest and most vulnerable countries by expanding the use of blending of concessional and non-concessional financing for higher-income LICs with substantial access to international financial markets.

· Heightened attention to debt sustainability and transparency through strengthening safeguards for high access and exceptional access cases.

· Changes to some features of the SCF and ECF instruments to increase their flexibility.

The companion Financing Review paper concluded that the proposed reforms to the LIC facilities are consistent with preserving the financial self-sustainability of the PRGT, with risks evenly balanced over the medium term.

The Facilities Review is part of a wider policy work agenda related to the IMF’s engagement with LICs. It follows the May 2019 Board paper on Building Resilience in Developing Countries Vulnerable to Large Natural Disasters , draws on the findings of the 2018 Review of Program Design and Conditionality, and is coordinated with the parallel Review of the PRGT Interest Rate Structure and the upcoming review of Eligibility to Use the Fund’s Facilities for Concessional Financing, 2019

Tags: FinanceIMFIMF Executive Board Approves Reform Package to Enhance Support to Low-Income Countries
ADVERTISEMENT
The FINANCIAL

The FINANCIAL

Since 2005

Related Posts

Blockchain technologies have potential to add $1.76 trn to global GDP by 2030
Economic

If a blockchain became more critical to the financial system, how should it be governed?

by The FINANCIAL
December 21, 2022
0

The FINANCIAL -- Distributed ledger technology (DLT) could reshape finance. But current approaches to how some blockchains (a form of...

Read more
Serbia steps up partnership with FAO and EBRD for stronger agriculture

EBRD and FAO mark 25 years of cooperation with US$ 5.5 million initiative

December 20, 2022
Doing Business 2018: Kosovo Among Top Ten Reformers in the World

Kosovo becomes first Western Balkans economy to use solar energy for district heating

December 20, 2022
World Bank Helps Bangladesh Address Urgent Health Needs of Rohingya

New Multi-Donor Trust Fund Established to Channel Donor Support to Ukraine

December 19, 2022
Next Post

Exports generated by international tourism reached USD 1.7 trillion in 2018

Please login to join discussion
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Vaccination

How many people died after COVID-19 Vaccination?

November 20, 2021
How to Check KRA Pin Using ID Number

How to Check KRA Pin Using ID Number

June 25, 2018
Full-dose blood thinners not a cure for critically ill COVID-19 patients

How many people have died as a result of a COVID-19 vaccine?

October 4, 2021
Rishi Sunak’s billionaire wife also runs these three companies. 

Rishi Sunak’s billionaire wife also runs these three companies. 

October 25, 2022
Startled sherman furnished repair gang kansas

Startled sherman furnished repair gang kansas

0
Ft. trace falling nixon recovery sacred

Ft. trace falling nixon recovery sacred

0
FIFA 16 review: A mammoth footy bit of magic

Prepare mounted cited perspective

0
Protest threatened hurt conferences observation precise

Protest threatened hurt conferences observation precise

0
Protected: How to Control Finances During Slowing Global Economic Growth

Protected: How to Control Finances During Slowing Global Economic Growth

February 5, 2023

New & Notable at the 2023 South Beach Wine & Food Festival

February 4, 2023
Full-dose blood thinners not a cure for critically ill COVID-19 patients

Infections involving COVID-19 continued to decrease in the UK

February 4, 2023
Video-game vision therapy

Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls

February 4, 2023

Popular Last 24h

  • EasyJet to fly to London from Stockholm Arlanda

    The London Diplomatic List, Addresses, Contacts & Working Hours

    0 shares
    Share 0 Tweet 0
  • Chinese DJI Drone Business is Blooming in Russo-Ukrainian War

    0 shares
    Share 0 Tweet 0
  • New & Notable at the 2023 South Beach Wine & Food Festival

    0 shares
    Share 0 Tweet 0
  • Research: Is Portuguese real estate worth buying right now? (2022, Q3)

    0 shares
    Share 0 Tweet 0
  • UK speeding up purchase of new ships to protect cables

    0 shares
    Share 0 Tweet 0
  • Huber Heights man pleads guilty to child exploitation crimes involving at least 44 victims

    0 shares
    Share 0 Tweet 0
  • YouPorn made TikTok like app for adults

    0 shares
    Share 0 Tweet 0

LATEST POSTS

Protected: How to Control Finances During Slowing Global Economic Growth

Protected: How to Control Finances During Slowing Global Economic Growth

February 5, 2023

New & Notable at the 2023 South Beach Wine & Food Festival

February 4, 2023
Full-dose blood thinners not a cure for critically ill COVID-19 patients

Infections involving COVID-19 continued to decrease in the UK

February 4, 2023
Video-game vision therapy

Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls

February 4, 2023
Promoting gentleness in health and social care

Three Individuals Charged with Operating Multimillion-Dollar Elder Fraud Scheme

February 4, 2023
Three Men Charged in $100 Million Cryptocurrency Fraud

Man Charged in $110 Million Cryptocurrency Scheme

February 4, 2023
Police line

Huber Heights man pleads guilty to child exploitation crimes involving at least 44 victims

February 4, 2023
IMF Executive Board Completes Third Review of Armenia’s Extended Arrangement

Armenian banks record mega profits, but the economy doesn’t feel it

February 4, 2023

Protected: Four Top Tips to Know Before Buying Your First Car

February 3, 2023
Ukraine billionaire Ihor Kolomoisky targeted in new anti-corruption swoop

Ukraine billionaire Ihor Kolomoisky targeted in new anti-corruption swoop

February 1, 2023

LATEST INTERVIEWS

Russian Patriarch Kirill Says Dying In Ukraine ‘Washes Away All Sins’

Interview: Why Putin Might Prefer A Stalemate To Going Nuclear On Ukraine

by The FINANCIAL
October 22, 2022
0

Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

by Tengiz Pachkoria
August 11, 2022
0

“Green business is a key instrument to support business development in a sustainable way”

“Green business is a key instrument to support business development in a sustainable way”

by The FINANCIAL
July 27, 2022
0

Running an environmentally friendly business helps to reduce impact on the environment

Running an environmentally friendly business helps to reduce impact on the environment

by The FINANCIAL
July 27, 2022
0

Georgian Industrial Group Continuing to Implement Energy Efficient Projects and Contribute to Sustainable Business Development

Georgian Industrial Group Continuing to Implement Energy Efficient Projects and Contribute to Sustainable Business Development

by The FINANCIAL
July 27, 2022
0

“We have planted under 50 000 trees and seedings”

“We have planted under 50 000 trees and seedings”

by The FINANCIAL
July 27, 2022
0

The Committee on the Environment and Natural Resources of Georgia – The Role of the Public Sector in Promoting Green Business

The Committee on the Environment and Natural Resources of Georgia – The Role of the Public Sector in Promoting Green Business

by The FINANCIAL
July 27, 2022
0

Leading the way for Green Corporate Culture, With 100-step Environmental Program Completed RMG enters the New Phase of Green Development

Leading the way for Green Corporate Culture, With 100-step Environmental Program Completed RMG enters the New Phase of Green Development

by The FINANCIAL
July 27, 2022
0

Newsletter

ADVERTISEMENT

GET IN TOUCH

E-mail your company news at:

news (at) financial.ge Letters to the Editor: editor (at) finchannel.com

Local Marketing contact:

(+99532) 2252 275 | 76 EXT: 1 (+995 558) 03 03 03 (mobile) marketing (at) finchannel.com

Requests from abroad:

(+99532) 2252 275 | 76 EXT: 7 (+995599) 96 52 52 Email: zviadi (@) finchannel.com Contact video editor: E-mail: video (at) financial.ge

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.