Interim Review Of The Resilience And Sustainability Trust And Review Of Adequacy Of Resources
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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.
Fy2026 Fy2028 Medium Term Budget
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Author : International Monetary Fund. Office of Budget and Planning
language : en
Publisher: International Monetary Fund
Release Date : 2025-05-02
Fy2026 Fy2028 Medium Term Budget written by International Monetary Fund. Office of Budget and Planning 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.
The global economy has proven resilient in the post-pandemic period, with global disinflation continuing, but with significant remaining uncertainty. This backdrop and transformations in the economic landscape are driving strong demand for Fund engagement. The proposed budget is guided by the longstanding principle of budget prudence. Notwithstanding a modest proposed structural top-up to supplement critical cybersecurity-related needs, overall net resourcing to departments will decline, given ongoing unwinding of temporary pandemic-era resources.
Costa Rica
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-06-14
Costa Rica written by International Monetary Fund. Western Hemisphere 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 2024-06-14 with Business & Economics categories.
Recent developments and outlook. Growth accelerated to 5.1 percent in 2023 and is projected to remain robust at 4 percent in 2024. Inflation (year-on-year) has stayed negative since mid-2023, triggering Board Consultation under the Monetary Policy Consultation Clause. However, as base effects drop out of the year-on-year calculation, headline inflation is expected to return to the central bank’s tolerance band (2-4 percent) by late 2024. Formal employment, private-sector wages, and poverty are all moving in the right direction.
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.
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.
Flexible Credit Line And Short Term Liquidity Line Operational Guidance Note
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2025-04-30
Flexible Credit Line And Short Term Liquidity Line Operational Guidance Note 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 2025-04-30 with categories.
This note provides operational guidance on the use of the Flexible Credit Line (FCL) and the Short-Term Liquidity Line (SLL). After an overview of each instrument, explaining its specific nature, the operational issues are grouped into five areas: an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; guidance on the modalities of concurrent use of the two instruments; guidance on interaction with other instruments; guidance on determining qualification of a member; and a how-to guide for determining appropriate access levels. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails. It will be revised as needed, for example following relevant policy reviews.
The Resilience And Sustainability Trust Targeted Modification Regarding The Flexible Credit Line Arrangement As Concurrent Upper Credit Tranche Quality Instrument
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2025-04-21
The Resilience And Sustainability Trust Targeted Modification Regarding The Flexible Credit Line Arrangement As Concurrent Upper Credit Tranche Quality Instrument 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 2025-04-21 with categories.
This paper proposes a narrow and targeted change to the Resilience and Sustainability Trust Instrument relevant for cases where an arrangement under the Resilience and Sustainability Facility (RSF) is allowed to continue when the member switches from a Flexible Credit Line (FCL) arrangement to another qualifying UCT-quality instrument. In those cases, sufficient safeguards to anchor the RSF arrangement would be that, within the previous 12 months, the Executive Board approved the FCL arrangement or completed the mid-term review of the member’s qualification under the arrangement.
2024 Staff Guidance Note On The Imf S Engagement With Small Developing States
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-07-25
2024 Staff Guidance Note On The Imf S Engagement With Small Developing States 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 2024-07-25 with categories.
This guidance note provides operational guidance on the Fund’s engagement with small developing states (SDS). It highlights the unique economic characteristics and constraints facing SDS, notably in a more shock-prone world. Building on advice that applies to the full membership, the note explains how the characteristics of SDS shape Fund surveillance, financial support and program design, capacity development (CD), and collaboration with other institutions and donors. The note updates the previous version that was published in December 2017.
Precautionary And Liquidity Line Operational Guidance Note
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2025-04-30
Precautionary And Liquidity Line Operational Guidance Note 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 2025-04-30 with categories.
This note provides operational guidance on the use of the Precautionary and Liquidity Line (PLL). After an overview of the instrument explaining its specific nature, the operational issues are grouped into six areas: an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; guidance on determining qualification of a member; guidance on access, phasing, ex-post conditionality, review process; guidance on purchases; guidance on communication of expiration or cancellation; and guidance on interaction with other instruments. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails. It will be revised as needed, for example, following relevant policy reviews.