Changing Patterns In Low Income Country Financing And Implications For Fund Policies On External Financing And Debt

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498336256
Total Pages : 50 pages
Book Rating : 4.53/5 ( download)

DOWNLOAD NOW!

Download or read book Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-02-26 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their development objectives while maintaining a sustainable debt position. The international community’s main answer to this dilemma has been to promote recourse to concessional external resources. The Fund’s recommendations to LICs conform to this preference: the practice in Fund-supported programs in LICs has generally been to set zero limits on nonconcessional external borrowing while not restricting concessional financing, although flexibility has been applied on a case-by-case basis to allow some nonconcessional borrowing when warranted.

Author : Internationaler Währungsfonds
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.52/5 ( download)

DOWNLOAD NOW!

Download or read book Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt written by Internationaler Währungsfonds and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their development objectives while maintaining a sustainable debt position. The international community's main answer to this dilemma has been to promote recourse to concessional external resources. The Fund's recommendations to LICs conform to this preference: the practice in Fund-supported programs in LICs has generally been to set zero limits on nonconcessional external borrowing while not restricting concessional financing, although flexibility has been applied on a case-by-case basis to allow some nonconcessional borrowing when warranted.

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498330630
Total Pages : 84 pages
Book Rating : 4.33/5 ( download)

DOWNLOAD NOW!

Download or read book Debt-Sustainability in Low-Income Countries - Proposal for an Operational Framework and Policy Implications written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2004-03-02 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498336094
Total Pages : 15 pages
Book Rating : 4.93/5 ( download)

DOWNLOAD NOW!

Download or read book Modification of Access Policies for the Poverty Reduction and Growth Facility and the Exogenous Shocks Facility written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-10-04 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper proposes a doubling of access limits on concessional lending to ensure that the Fund can respond effectively to the needs of low-income countries (LICs) severely affected by the current world economic downturn. Pending adoption of broader reforms to the LIC facilities architecture, higher access limits under the Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility-High-Access Component (ESF-HAC) would give the Fund greater flexibility in assisting LICs, which have become more exposed to global volatility over time. A doubling of access limits would restore them to their 1998 levels in percent of GDP and would be consistent with the approach taken in determining new access limits for General Resources Account (GRA) resources. It would also be in line with the projected doubling of medium-term demand for concessional resources.

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498336264
Total Pages : 52 pages
Book Rating : 4.60/5 ( download)

DOWNLOAD NOW!

Download or read book The Fund's Facilities and Financing Framework for Low-Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-02-25 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the adequacy of the Fund’s facilities and financing framework for low-income countries (LICs) and proposes reform options. It is part of a broader review of all Fund financial instruments and is timely given the pressure the current global financial crisis is putting on LICs. It builds on previous efforts to adapt the Fund’s toolkit to the evolving needs of its LIC members, including creation of the Policy Support Instrument (PSI) and the recent modification of the Exogenous Shocks Facility (ESF). This paper provides the basis for the first stage of the LIC-specific review, with a focus on: (i) gaps and overlaps in the facility architecture for LICs, (ii) design issues such as access, financing terms, and conditionality, and (iii) the concessional resource envelope and funding structure. Based on feedback from Executive Directors and further external consultation, more detailed reform proposals will be prepared in the second stage of the review. The Fund’s Facilities and Financing Framework for Low-Income Countries—Supplementary Information March 13, 2009

Author : International Monetary Fund. Policy Development and Review Dept.
Publisher : International Monetary Fund
ISBN 13 : 149833007X
Total Pages : 6 pages
Book Rating : 4.77/5 ( download)

DOWNLOAD NOW!

Download or read book Operational Framework for Debt Sustainability in Low-Income Countries - Implications for Fund Program Design written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2004-09-13 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498308635
Total Pages : 44 pages
Book Rating : 4.32/5 ( download)

DOWNLOAD NOW!

Download or read book Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-04-24 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Fund is adapting its framework for providing support to low-income countries (LICs) amid rising vulnerabilities. Despite a global economic upswing, many LICs continue to face difficult fiscal and external positions, aggravated by increasing debt levels and natural disasters in many countries. In this context, the Executive Board approved in May 2017 higher annual access limits under the Rapid Credit Facility (RCF) for balance of payment needs arising from large natural disasters and in May 2017 decided to keep the list of Poverty Reduction and Growth Trust (PRGT)-eligible countries unchanged notwithstanding rising per capita income levels. A comprehensive review of PRGT facilities is underway to consider potential adaptations of program modalities and access policies. PRGT demand in 2017 was above the historical average for the third year in a row. New commitments totaled SDR 1.7 billion, the highest level since the global financial crisis. Demand is expected to moderate somewhat in 2018. Longer-term demand estimates are broadly unchanged from last year’s update, and remain generally consistent with the self-sustaining PRGT financing framework adopted in 2012. Loan resources have been successfully replenished, while subsidy contributions remain somewhat below pledged amounts. The 2015 fundraising round mobilized slightly more than the initial target of SDR 11 billion in new loan resources from 15 PRGT lenders, which should provide adequate loan resources into the next decade. By contrast, progress has been limited in collecting the remaining pledged resources for subsidizing the interest on PRGT credit. The PRGT self-sustained capacity remains intact. The PRGT’s self-sustained long term average annual lending capacity is estimated at SDR 1.31 billion, broadly unchanged from last year’ estimate. While capacity estimates are sensitive to a variety of factors, they remain relatively close to the target of SDR 11⁄4 billion under a number of shocks. The Catastrophe Containment and Relief Trust (CCR Trust) remains underfunded. Funding is below the original targeted amount of new bilateral contributions totaling US$150 million, and the gap is more sizeable when considering the increase of members’ quotas under the 14th General Review of Quotas. To meet funding needs for future qualifying catastrophe relief, it is important that countries with outstanding pledges fulfill their commitments and for additional countries to come forward. Additional financing would be required to provide debt relief to members with protracted arrears. Debt relief under the Heavily Indebted Poor Counties (HIPC) Initiative is winding up, with only two potentially eligible countries left with outstanding Fund credit. These are the protracted arrears cases of Somalia and Sudan. Additional resources would be required to finance the Fund’s participation in debt relief when these countries are ready to undertake the HIPC Initiative process"

Author : World Bank
Publisher : International Monetary Fund
ISBN 13 : 1498341179
Total Pages : 61 pages
Book Rating : 4.72/5 ( download)

DOWNLOAD NOW!

Download or read book Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries written by World Bank and published by International Monetary Fund. This book was released on 2013-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their development objectives while at the same time ensuring that their external debt remains sustainable. In April 2005, the Executive Boards of the International Monetary Fund (IMF) and the International Development Association (IDA) endorsed the Debt Sustainability Framework (DSF), a tool developed jointly by IMF and World Bank staff to conduct public and external debt sustainability analysis in low-income countries. The DSF aims to help guide the borrowing decisions of LICs, provide guidance for creditors’ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice.

Author : Naoko C. Kojo
Publisher : International Monetary Fund
ISBN 13 : 1451875738
Total Pages : 40 pages
Book Rating : 4.37/5 ( download)

DOWNLOAD NOW!

Download or read book Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries written by Naoko C. Kojo and published by International Monetary Fund. This book was released on 2003-12-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private investment is the principal transmission channel through which fiscal policy affects growth in high-income countries. In low-income countries, governance and also other considerations suggest that the primary channel is factor productivity. Empirical results reported in this paper confirm this expectation: in low-income countries, factor productivity is some four times more effective than investment as a channel for increasing growth through fiscal policy. Although the private investment response to fiscal contraction may be minor, high-deficit, low-income countries can nonetheless benefit from a reduction in unsustainable fiscal deficits because of governance-related factor productivity responses that increase growth.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513589636
Total Pages : 156 pages
Book Rating : 4.33/5 ( download)

DOWNLOAD NOW!

Download or read book Fund Concessional Financial Support For Low-Income Countries—Responding To The Pandemic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-22 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a package of policy reforms and a funding strategy to ensure that the Fund has the capacity to respond flexibly to LICs’ needs during the pandemic and recovery. The key policy reforms proposed include: • raising the normal annual/cumulative limits on access to PRGT resources to 145/435 percent of quota, the same thresholds for normal access in the GRA; • eliminating the hard limits on exceptional access (EA) to PRGT resources for the poorest LICs, enabling them to obtain all financing on concessional terms if the EA criteria are met; • changes to the framework for blending concessional and non-concessional resources to make it more robust and less complex; • stronger safeguards to address concerns regarding debt sustainability and capacity to repay the Fund; and • retaining zero interest rates on PRGT loans, consistent with the established rules for setting these interest rates.