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Poverty Reduction and Growth Trust

Banco de España and IMF modify agreement to expand lending to low-income countries

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The FINANCIAL — The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), and the Banco de España have entered into an amendment of their 2017 borrowing agreement through which the Banco de España will provide an additional amount of up to SDR 750 million (about US$1.06 billion ) in new loan resources. Accordingly, the total loan amount under the borrowing agreement with the Banco de España was amended to provide up to SDR 1.2 billion (US$ 1.7 billion) for the PRGT benefitting the IMF’s low‑income member countries. This amendment, made effective on July 1, 2020,…

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Banco de España and IMF modify agreement to expand lending to low-income countries

1 min read

The FINANCIAL — The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), and the Banco de España have entered into an amendment of their 2017 borrowing agreement through which the Banco de España will provide an additional amount of up to SDR 750 million (about US$1.06 billion ) in new…