Download or read book 2023 Handbook of IMF Facilities for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2023-04-21 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides guidance to staff on the IMF’s concessional 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 December 2017 (IMF, 2017e) by incorporating modifications resulting from the 2018–19 Review of Facilities for Low-Income Countries and Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries (IMF, 2019a, b), approved by the Board in May 2019; the reforms introduced in 2021 on the basis of the Board paper Fund Concessional Financial Support for Low-Income Countries—Responding to the Pandemic (IMF, 2021a), approved in July 2021; and a number of other recent Board papers. 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 primary legal authority on the matters covered in the Handbook.

Download or read book Handbook of IMF Facilities for Low Income Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-03-21 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s concessional facilities are aimed at providing flexible and tailored support to low-income countries (LICs) in their efforts to achieve, maintain, or restore a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth.

Download or read book 2016 Handbook of IMF Facilities for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by INTERNATIONAL MONETARY FUND. This book was released on 2016-02-23 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides guidance to staff on the financial and non-financial facilities 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 2015 (IMF, 2015) by incorporating modifications resulting from Board papers and related decisions since that time, including the reform of the Fund policy on Poverty Reduction Strategy in Fund engagement with low-income countries, Financing for Development—Enhancing the Financial Safety net for Developing Countries, Proposal for Catastrophe Containment and Relief Trust, the Review of Eligibility to Use the Fund’s Facilities for Concessional Financing, and the 14th General Review of Quotas.1 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.

Download or read book 2014 Handbook of IMF Facilities for Low Income Countries written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2014-08-28 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook, an updated version of a similarly titled document issued in May 2012 (IMF, 2012c), provides guidance to staff on the financial facilities for low-income countries (LICs) that became effective in January 2010 (ECF, SCF, and RCF), and the PSI, including modifications to the guidance resulting from the Review of Facilities for Low-Income Countries (IMF, 2012e and 2013d) and the Review of Eligibility to Use the Fund’s Facilities for Concessional Financing (IMF, 2013c). Designed as a comprehensive reference tool for program work on low-income countries, 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.

Download or read book 2017 Handbook of IMF Facilities for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2017-01-12 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Review of Facilities for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-07-26 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2009 reforms have broadly achieved their objective of closing gaps and creating a streamlined architecture of facilities that is better tailored to the diverse needs of LICs. Supported by the financing package to boost the PRGT’s lending capacity for 2009–14 and the accompanying doubling of access, the Fund was able to mount an effective response to LICs’ needs during the global financial crisis.

Download or read book Review of Facilities for Low Income Countries Proposals for Implementation written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2013-03-18 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the Executive Board’s guidance during the first stage of the Review of Low Income Countries (LIC) Facilities, this paper suggests a number of refinements to the facilities and instruments that are consistent with the self-sustainability of the Poverty Reduction and Growth Trust (PRGT). The proposals seek to improve the tailoring and flexibility of Fund support. Taken together with those advanced in the parallel paper on PRGT eligibility, they are projected to keep the average annual demand for PRGT resources within a range consistent with the Board’s approved strategy to make the PRGT self-sustaining over the period 2013–35. The proposals are as follows.

Download or read book 2018 Review of Facilities for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-08-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund is facing strong demand for financing from low-income countries (LICs). Commodity price shocks and loose fiscal policies have contributed to rising debt levels and financing needs in many countries. Several developing states, especially smaller ones, are also increasingly vulnerable to large natural disasters. At the same time, many LICs less dependent on commodity exports have enjoyed robust growth in recent years, with more contained vulnerabilities.

Download or read book 2018 19 Review of Facilities for Low Income Countries Reform Proposals written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2019-06-06 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2018-19 Review of Facilities for Low-Income Countries---Reform Proposals: Review Of The Financing Of The Fund’s Concessional Assistance And Debt Relief To Low-Income Member Countries

Download or read book The Economic Impact of IMF Supported Programs in Low Income Countries written by Yasemin Bal-Gunduz and published by International Monetary Fund. This book was released on 2013-10-04 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

Download or read book Review of Facilities for Low Income Countries Supplement 1 written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-07-26 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement aims to assess the economic impact of the Fund’s support through its facilities for low-income countries (LICs). It relies on two complementary econometric analyses: the first investigates the longer-term impact of Fund engagement—primarily through successive medium-term programs under the Extended Credit Facility (ECF) and its predecessors (and more recently the Policy Support Instrument (PSI))—on economic growth and a range of other indicators and socio-economic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of ECF arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance. The empirical results shed some light on two channels through which different Fund facilities may have helped LICs respond to the global financial crisis—(i) by supporting a gradual buildup of macroeconomic buffers in the decades prior to the crisis and (ii) by providing liquidity support at the height of the crisis. The combination of strong pre-crisis buffers and crisis financing allowed LICs to pursue counter-cyclical policy responses that preserved spending and facilitated a rapid recovery.

Download or read book IMF Supported Programs in Low Income Countries written by Mr.Christian Mumssen and published by International Monetary Fund. This book was released on 2014-01-15 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the short and longer-term impact of IMF engagement in Low-Income Countries (LICs) over nearly three decades. In contrast to earlier studies, we focus on a sample composed exclusively of LICs and disentangle the different effects of IMF longer-term engagement and short-term financing using a propensity score matching approach to control for selection bias. Our results indicate that longer-term IMF support (at least five years of program engagement per decade) helped LICs sustain economic growth and boost resilience by building fiscal buffers. Interestingly, the size of IMF financing has no significant impact on economic growth, possibly pointing to the prominent role of IMF policy advice and institutional capacity building in the context of longer-term engagement. We also present evidence that the short-term IMF engagement through augmentations of existing programs or short-term and emergency facilities is positively associated with a wide range of macroeconomic outcomes. Notably, the IMF financial support has the greatest impact on short-term growth when LICs are faced with substantial macroeconomic imbalances or exogenous shocks.

Download or read book International Monetary Fund Handbook written by Parmeshwar Ramlogan and published by International Monetary Fund. This book was released on 2007 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the functions, policies, and operations of the IMF. The IMF is an independent international organization, and is a cooperative of 185 member countries, whose objective is to promote world economic stability and growth. The member countries are the shareholders of the cooperative, providing the capital of the IMF through quota subscriptions. In return, the IMF provides its members with macroeconomic policy advice, financing in times of balance-of-payments need, and technical assistance and training to improve national economic management.

Download or read book Guidance Note on IMF Engagement on Social Safeguards in Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-07-11 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides operational guidance to staff on how to engage on social safeguard issues with low-income countries in both program and surveillance contexts. The note is not intended as a comprehensive guide, and should be used in conjunction with other operational guidance notes, such as those relating to conditionality and surveillance.

Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

Download or read book IMF and Fragile States written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2018-04-13 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This evaluation assesses the IMF’s work on countries in fragile and conflict-affected situations (FCS), addressing both (i) its engagement through surveillance, lending, and capacity development and (ii) the frameworks and procedures for its engagement. It finds that the IMF has provided unique and essential services to FCS to restore macroeconomic stability and rebuild core macroeconomic institutions as prerequisites for state building, playing a role in which no other institution can take its place. In this critical role, it is broadly acknowledged to have had a high impact. While the IMF has provided relatively little direct financing, it has catalyzed donor support through its assessment of a country’s economic policies and prospects. Notwithstanding this positive assessment, the IMF’s overall approach to its FCS work seems to have been conflicted. Not only has it failed consistently to make hard choices necessary to achieve full impact from its engagement in countries where success requires patient and dedicated attention over the long haul, but past efforts have not been sufficiently bold or adequately sustained, and the staff has tended to revert to treating fragile states using IMF-wide norms, rather than as countries needing special attention. The report proposes six recommendations to improve the effectiveness of the IMF’s FCS work: (i) to issue a statement of high-level commitment to FCS work for IMFC endorsement; (ii) to create an effective institutional mechanism with the mandate and authority to coordinate and champion such work; (iii) to develop comprehensive strategies for individual FCS; (iv) to adapt its lending toolkit to deliver more sustained financial support to FCS; (v) to take practical steps to increase the impact of its capacity development support to FCS; and (vi) to take steps to incentivize high-quality and experienced staff to work on individual FCS and find pragmatic ways of increasing field presence in high risk locations.

Download or read book The Economic Impact of IMF Supported Programs in Low Income Countries written by Yasemin Bal-Gunduz and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.