Poverty Reduction And Growth Trust Review Of Interest Rate Structure
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Poverty Reduction And Growth Trust Review Of Interest Rate Structure Postponement
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Author : International Monetary Fund. Finance Dept.
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 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 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.
Poverty Reduction And Growth Trust Review Of Interest Rate Structure
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-26
Poverty Reduction And Growth Trust Review Of Interest Rate Structure 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 2019-06-26 with Business & Economics categories.
This paper reviews the Poverty Reduction and Growth Trust (PRGT) interest rate structure for the period July 2019–June 2021. Since the interest rate mechanism was first established in 2009, no interest has been charged on PRGT credit. In line with the package of reforms proposed in the parallel Review of LIC Facilities, this paper proposes to align interest rates on the SCF with those on the ECF. Based on the average SDR rate over the most recently observed 12-month period, the proposed revised interest rate mechanism would result in zero interest rates on both ECF and SCF credit for the period July 2019–June 2021.
Poverty Reduction And Growth Trust Review Of The Interest Rate Structure Postponement
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-26
Poverty Reduction And Growth Trust Review Of The Interest Rate Structure Postponement 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 2019-06-26 with Business & Economics categories.
This paper proposes to postpone the deadline for the next interest rate review by six months in light of the timing of the second stage of the Low-Income Countries (LIC) Facilities Review, and to maintain the zero percent interest rates applicable to ECF, SCF and ESF balances for this period.
Poverty Reduction And Growth Trust Review Of Interest Rate Structure
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-11-19
Poverty Reduction And Growth Trust Review Of Interest Rate Structure written by International Monetary Fund 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 2014-11-19 with Business & Economics categories.
This paper provides the basis for the second review of the interest rate structure approved under the 2009 reforms of the Fund’s concessional lending facilities. Based on the application of the Poverty Reduction and Growth Trust (PRGT) interest rate mechanism, PRGT interest rates for 2015–16 would be zero percent for both the Extended Credit Facility (ECF) and Rapid Credit Facility (RCF), and 0.25 percent for the Stand-by Credit Facility (SCF). The interest rate on remaining balances of the Exogenous Shock Facility (ESF) is not set by the PRGT interest mechanism and it would be 0.25 percent. In accordance with the PRGT Instrument, the next review of PRGT interest rates will take place by December 31, 2016.
Poverty Reduction And Growth Trust Review Of The Interest Rate Structure Postponement
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Author : International Monetary Fund. Finance Department
language : en
Publisher:
Release Date : 2019
Poverty Reduction And Growth Trust Review Of The Interest Rate Structure Postponement written by International Monetary Fund. Finance Department and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This paper proposes to postpone the deadline for the next interest rate review by six months in light of the timing of the second stage of the Low-Income Countries (LIC) Facilities Review, and to maintain the zero percent interest rates applicable to ECF, SCF and ESF balances for this period.
2016 Poverty Reduction And Growth Trust Review Of Interest Rate Structure
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2016-08-24
2016 Poverty Reduction And Growth Trust Review Of Interest Rate Structure 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 2016-08-24 with Business & Economics categories.
This paper reviews the interest rate structure that would apply to the PRGT in 2017–18. Based on the interest rate setting mechanism agreed in 2009, the interest rate for the Extended Credit Facility (ECF) would be zero and the rate for the Standby Credit Facility (SCF) would be 0.25 percent. The interest rate for the Rapid Credit Facility (RCF) was set permanently at zero in July 2015. Since the current mechanism was agreed, the Executive Board has granted successive exceptional interest waivers on all outstanding Fund concessional credit, setting all interest rates charged at zero percent. These waivers have been extended three times, providing interest rate relief to many low-income countries at a time when they faced considerable headwinds from the global economic environment. A strong case remains for maintaining zero rates on Fund concessional credit at the current global economic juncture. The global outlook for LICs has not significantly improved since the last review and downside risks remain significant. At the same time, many Directors noted at the last review in 2014 that the possibility of a prolonged period of very low interest rates warrants an early re-examination of the mechanism, including an exit strategy from repeated application of the waiver, with the objective of safeguarding the self-sustaining capacity of the PRGT. The paper seeks to respond to this call. It proposes that the PRGT interest rate mechanism be amended to accommodate anomalies created by a prolonged period of very low interest rates. Specifically, a new threshold is proposed whereby both the ECF and the SCF rate would be set at zero when the 12-month average SDR rate is less than or equal to 0.75 percent. This proposal will likely keep all PRGT interest rates under the mechanism at zero through at least 2020 given current market expectations while incurring only minimal subsidy costs and eliminating the need for continual waivers. In addition, staff proposes to waive interest rate charges on outstanding legacy balances under the Exogenous Shocks Facility (ESF), which are not determined via the interest rate mechanism, until the next review.
2017 Handbook Of Imf Facilities For Low Income Countries
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-12
2017 Handbook Of Imf Facilities For Low Income Countries 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 2017-01-12 with Business & Economics categories.
This Handbook provides guidance to staff on the financial facilities and non-financial instruments for low-income countries (LICs), defined here as all countries eligible to obtain concessional financing from the Fund. It updates the previous version of the Handbook that was published in February 2016 (IMF, 2016d) by incorporating modifications resulting from Board papers and related decisions since that time, including Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Further Considerations (IMF, 2016c), Review of Poverty Reduction and Growth Trust – Review of Interest Rate Structure (IMF, 2016b), Eligibility to Use the Fund’s Facilities for Concessional Financing (IMF, 2017a), Large Natural Disasters—Enhancing the Financial Safety Net for Developing Countries (IMF, 2017b) and Adequacy of the Global Financial Safety Net – Proposal for a New Policy Coordination Instrument (IMF, 2017c). Designed as a comprehensive reference tool for program work on LICs, the Handbook also refers, in summary form, to a range of relevant policies that apply more generally to IMF members. As with all guidance notes, the relevant IMF Executive Board decisions, including the terms of the various LIC Trust Instruments that have been adopted by the Board, remain the sole legal authority on the matters covered in the Handbook
Poverty Reduction And Growth Trust Review Of Interest Rate Structure
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-26
Poverty Reduction And Growth Trust Review Of Interest Rate Structure 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 2019-06-26 with Business & Economics categories.
This paper reviews the Poverty Reduction and Growth Trust (PRGT) interest rate structure for the period July 2019–June 2021. Since the interest rate mechanism was first established in 2009, no interest has been charged on PRGT credit. In line with the package of reforms proposed in the parallel Review of LIC Facilities, this paper proposes to align interest rates on the SCF with those on the ECF. Based on the average SDR rate over the most recently observed 12-month period, the proposed revised interest rate mechanism would result in zero interest rates on both ECF and SCF credit for the period July 2019–June 2021.
Poverty Reduction And Growth Trust Review Of The Interest Rate Structure Postponement
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-26
Poverty Reduction And Growth Trust Review Of The Interest Rate Structure Postponement 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 2019-06-26 with Business & Economics categories.
This paper proposes to postpone the deadline for the next interest rate review by six months in light of the timing of the second stage of the Low-Income Countries (LIC) Facilities Review, and to maintain the zero percent interest rates applicable to ECF, SCF and ESF balances for this period.
Poverty Reduction And Growth Trust Interest Rate Mechanism Extension Of Temporary Interest Rate Waiver
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-14
Poverty Reduction And Growth Trust Interest Rate Mechanism Extension Of Temporary Interest Rate Waiver 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 2012-12-14 with Business & Economics categories.
In recent months, a number of Directors have expressed support in the Executive Board for a further extension of the temporary exceptional interest waiver on concessional lending. An extension would send a signal of the Fund’s continued support for Low-Income Countries at a time when the global economic crisis is still ongoing. In view of the related downside risks to the global economic recovery and a decline in the ability of Low-Income Countries to respond to a further weakening of global growth, this paper proposes a further extension of the exceptional interest waiver by two years, to end-2014. This paper also proposes to further extend to April 2013 the existing subsidization of the rate of charge on outstanding Emergency Natural Disaster Assistance and Emergency Post-Conflict Assistance purchases by PRGT-eligible members.