2023 Review Of Resource Adequacy Of The Poverty Reduction And Growth Trust Resilience And Sustainability Trust And Debt Relief Trusts
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2023 Review Of Resource Adequacy Of The Poverty Reduction And Growth Trust Resilience And Sustainability Trust And Debt Relief Trusts
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-04-26
2023 Review Of Resource Adequacy Of The Poverty Reduction And Growth Trust Resilience And Sustainability Trust And Debt Relief Trusts written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-26 with Business & Economics categories.
This paper provides an integrated perspective across the Trusts of the Fund. It is the first annual review that combines discussion of the adequacy of the resources of the Fund’s Poverty Reduction and Growth Trust (PRGT) and debt relief trusts, including the Catastrophe Containment and Relief Trust (CCRT), with that of the Resilience and Sustainability Trust (RST). The review of the PRGT assesses recent developments for lending demand, fundraising, and interest rates and compares them to the baseline projections underpinning the July 2021 reforms. A multi-pronged strategy is proposed to address identified strains on PRGT finances while minimizing negative effects for PRGT borrowers and preserving the confidence of PRGT lenders. On the recently established RST, this paper reports its fundraising progress; discusses demand developments and outlook for RST financing; assesses adequacy of loan resources and reserves; and examines, in view of increases in the SDR interest rate, the implications of adopting an interest rate cap at 21⁄4 percent for the lowest income group eligible for RST borrowing.
Interim Review Of The Resilience And Sustainability Trust And Review Of Adequacy Of Resources
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-06-24
Interim Review Of The Resilience And Sustainability Trust And Review Of Adequacy Of Resources written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-24 with categories.
The Resilience and Sustainability Trust (RST) provides affordable longer-term financing to help eligible IMF members address longer-term structural challenges, thereby progressing toward strengthening their prospective balance of payments stability. This paper takes stock of the initial experience with the RST—focusing on progress and challenges so far—and proposes fine-tuning RST design with a view to strengthening implementation of the Trust’s objectives. The paper also provides an assessment of the adequacy of the Trust’s resources and finds that increased near-term fundraising will be needed to meet strong demand. The Trust’s reserves remain adequate in the baseline and under a range of risk scenarios.
Poverty Reduction And Growth Trust Review Of Interest Rate Structure Postponement
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-06-14
Poverty Reduction And Growth Trust Review Of Interest Rate Structure Postponement written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-14 with Business & Economics categories.
This paper proposes to postpone the next review of the PRGT interest rate structure to end-July 2025, given the desirability to consider all policies regarding low-income country facilities—including those related to PRGT interest rates—at once in the context of 2024/25 Review of the Fund’s Concessional Facilities and Financing. As a result of this postponement, the interest rates on all PRGT credit would be kept at zero until the completion of the next review.
Interim Review Of Access Limits Under The Poverty Reduction And Growth Trust And Initial Considerations For Access Limits Under The General Resource Account
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2023-12-15
Interim Review Of Access Limits Under The Poverty Reduction And Growth Trust And Initial Considerations For Access Limits Under The General Resource Account written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-15 with Business & Economics categories.
The interim review on PRGT access limits follows the call from the Executive Board in March 2023 and confirmed by the IMFC in October 2023. Low-income countries (LICs) face high economic uncertainty and pressures, while grappling with limited policy space and a funding squeeze. In March 2023, access limits under the General Resources Account (GRA) were temporarily increased for 12 months to give space for countries to face such economic pressures. The IMF Executive Board emphasized the importance of the alignment of the Poverty Reduction and Growth Trust (PRGT) access limits with those of the GRA that was achieved in 2021. The Board also agreed that, once substantial progress with PRGT fundraising toward the SDR 2.3 billion first-stage target for subsidy resources agreed in 2021 has been made—with total pledges of SDR 2 billion or more—access limits under the PRGT would be reviewed at an ad hoc interim review. This target has now been reached, paving the way for the review, also called for by the IMFC during the Annual Meetings in October 2023, in a context where the LICs’ economic challenges have further increased, including due to the risk of additional negative spillovers on the global economy stemming from the current geopolitical tensions and conflicts.
2025 Update Of Resource Adequacy Of The Poverty Reduction And Growth Trust Resilience And Sustainability Trust And Debt Relief Trusts
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2025-05-02
2025 Update Of Resource Adequacy Of The Poverty Reduction And Growth Trust Resilience And Sustainability Trust And Debt Relief Trusts written by International Monetary Fund. Finance Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-05-02 with categories.
This paper provides an update of the resource adequacy of the Fund's Trust funds. Poverty Reduction and Growth Trust (PRGT) finances remain broadly in line with expectations at the completion of the 2024 PRGT Facilities and Financing Review, which included policy reforms and financing measures to ensure adequate and durable financial support to low-income countries (LICs) and restore the PRGT self-sustainability. Following the review, good progress has been made in securing assurances from members under the comprehensive framework to distribute GRA resources to facilitate the generation of additional PRGT subsidy resources. On the Resilience and Sustainability Trust (RST), the agreed process of voluntary bilateral contributions has progressed well. Based on updated projections, there are sufficient resources to meet demand through the RST Comprehensive Review, at which time staff will take stock of experience and assess medium-term resource needs. The RST's reserves remain adequate and the interest rate cap for Group A countries remains appropriate, though risks have increased. The Catastrophe Containment and Relief Trust (CCRT) remains underfunded and its next comprehensive review provides an opportunity to address its financing challenges. The Heavily Indebted Poor Countries (HIPC) initiative is nearly complete, although Sudan's progress towards the Completion Point is delayed. Staff assesses that risks to the finances of the PRGT and RST are appropriately mitigated at this time. Accordingly, and pending the outcome of the CCRT Review, staff does not propose any adjustments or policy changes to the Fund's Trust funds in this annual update.
Oxford Handbook Of The International Monetary Fund
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Author :
language : en
Publisher: Oxford University Press
Release Date : 2024-10-17
Oxford Handbook Of The International Monetary Fund written by and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-10-17 with Political Science categories.
The International Monetary Fund (IMF) is a pivotal institution in global economic governance tasked with ensuring monetary stability and preventing financial crises through promoting balanced trade, economic growth, and poverty reduction. It also plays a powerful normative role by shaping economic policies worldwide through its research and expertise. The IMF played a crucial role in managing crises like the 2008 financial crisis and the COVID-19 pandemic, providing significant financial aid and advocating for stimulus measures. However, the IMF faces both internal and external challenges from reforming its governance structure to better represent emerging economies to finding its place in a world increasingly defying liberal internationalism and multilateralism. Despite reforms, power remains concentrated among advanced economies, hindering inclusivity and trust, particularly in regions like sub-Saharan Africa. Geopolitical tensions, populist nationalism, and economic imbalances further strain the IMF's effectiveness. This handbook aims to uncover these challenges by providing diverse perspectives and proposing policy recommendations that the Fund could undertake to better navigate the complex landscape of 21st-century global governance. Part I delves into its historical origins and key debates of the IMF. Part II focuses on formal operations such as lending, surveillance, and capacity development. Part III explores the involvement of different actors including states, markets, and civil society. Part IV discusses partnerships with other international organizations and collaboration in financial regulation. Part V analyzes shifts in policy instruments and ideological frameworks. Part VI broadens concerns to include gender mainstreaming, labor markets, climate policy, and inclusive growth. Part VII addresses internal challenges including cultural diversity concerns and uniformity of treatment. Part VIII evaluates external challenges such as populist movements, China's influence, global inequality and unresolved issues in Europe. Part IX explores how the IMF can meet the multiple challenges identified in this volume and positively impact 21st century global governance.
Selected Decisions And Selected Documents Of The International Monetary Fund
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Author : International Monetary Fund. Legal Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-12
Selected Decisions And Selected Documents Of The International Monetary Fund written by International Monetary Fund. Legal Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-12 with Business & Economics categories.
This volume is the Forty-Third Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, it includes certain documents relating to the Fund, the United Nations, and other international organizations.
Review Of Experience With The Food Shock Window Under The Rapid Financing Instrument And The Rapid Credit Facility
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-06-30
Review Of Experience With The Food Shock Window Under The Rapid Financing Instrument And The Rapid Credit Facility written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-30 with Business & Economics categories.
The Food Shock Window (FSW) under the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI) was approved in September 2022 for 12 months, as a complement to the tools used by the Fund to support the broader international effort to address the global food shock. The Fund has been working closely with partners to provide a coordinated international response to the global food shock, and has contributed through policy advice, technical assistance and lending. Where needed and possible, financial support to countries affected by the global food shock has been delivered by the IMF through multi-year Fund-supported programs The FSW complemented this support in situations where these programs were not feasible or not necessary. As the global food shock and associated balance of payment pressures are expected to continue throughout 2023, the IMF extended the FSW until end-March 2024 to allow the FSW to continue serving as a contingency tool. This extension will also provide sufficient time to observe if the FSW can lapse without limiting the capacity of the Fund to support its members. To ensure adequate borrowing space under the emergency financing limits for those countries that have received support through the FSW, the IMF also extended the additional 25 percent of quota added to the Cumulative Access Limit until end-2026 for countries that have accessed the Food Shock Window through the RFI and until the completion of the 2024/25 PRGT review for those that accessed the Food Shock Window through the RCF.
Human Development Report 2023 2024
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Author : United Nations Development Programme
language : en
Publisher: Stylus Publishing, LLC
Release Date : 2024-03-13
Human Development Report 2023 2024 written by United Nations Development Programme and has been published by Stylus Publishing, LLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-13 with Business & Economics categories.
Today, collective action on challenges ranging from climate change mitigation to peace and security is frustratingly slow or stymied altogether. Lack of trust and polarization--both associated with insecurity--exacerbate the gridlock. Shared, interlinked global challenges, like the pandemic and its recovery, are outpacing our willingness and our institutions’ capacities to respond to them. Why, despite all our riches and technologies, are we so stuck? How do we get unstuck? Is it possible to mobilize action to address globally shared challenges in a world that is intensively polarized? The 2023-2024 Human Development Report explores these issues and offers a platform for strategic discussion on how to move beyond narrow zero-sum thinking and support cooperation even as we have diverging interests and views. The e-book for this publication has been converted into an accessible format for the visually impaired and people with print reading disabilities. It is fully compatible with leading screen-reader technologies such as JAWS and NVDA.
2021 Special Drawing Rights Allocation Ex Post Assessment Report
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-29
2021 Special Drawing Rights Allocation Ex Post Assessment Report written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-29 with Business & Economics categories.
This report follows up on the impact of the historic $650 billion 2021 SDR allocation on the global economy, documenting IMF members' use of the allocation and assessing its economic effects. The report finds that the allocation was beneficial for the global economy, helping meet the long-term global need for reserves and supporting market confidence. Members used the allocation mostly to increase international reserve buffers, with some emerging market and developing countries also using it to meet fiscal and external financing needs. While SDR interest costs have increased, members’ capacity to service SDR obligations remains generally adequate. Members’ use of the allocation was mostly in line with Fund advice, and the transparency and accountability of SDR holdings and use has been broadly appropriate, although some gaps remain. Voluntary SDR channeling from economically stronger to more vulnerable members has helped amplify the benefits of the allocation.