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Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 149830785X
Category : Business & Economics
Languages : en
Pages : 10
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Book Description
"The Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), has entered into a new borrowing agreement (the “Agreement”) with the Banque de France (hereafter France), effective on February 1, 2018. This new borrowing agreement with France provides new resources to the Extended Credit Facility Loan Account of the PRGT in the total amount of up to SDR 2 billion. Pursuant to Section III, paragraph 2 of the Instrument to establish the PRGT, the Managing Director is authorized to enter into borrowing agreements and agree to their terms and conditions with lenders to the Loan Accounts of the Trust. This paper presents the new Agreement with France to the Executive Board for information. Including this Agreement with France, the Fund has concluded fifteen new PRGT loan agreements providing total resources of SDR 11.4 billion in the context of the 2014 Board endorsed PRGT fundraising with a goal of SDR 11 billion. To accommodate the better-than-expected outcome, and following consultations with PRGT creditors, the IMF Board increased the PRGT’s cumulative borrowing limit on January 8, 2018. This is the sixth borrowing agreement between France and the Fund as Trustee of the PRGT. The Agreement incorporates the extensions of the commitments and drawdown period for PRGT loans to end-2020 and end-2024, respectively, consistent with the Fund’s framework for concessional lending to low income countries adopted in other PRGT borrowing agreements."
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498307272
Category : Business & Economics
Languages : en
Pages : 10
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Book Description
"The Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), has entered into a new borrowing agreement (the “Agreement”) with the Banque de France (hereafter France), effective on February 1, 2018. This new borrowing agreement with France provides new resources to the Extended Credit Facility Loan Account of the PRGT in the total amount of up to SDR 2 billion. Pursuant to Section III, paragraph 2 of the Instrument to establish the PRGT, the Managing Director is authorized to enter into borrowing agreements and agree to their terms and conditions with lenders to the Loan Accounts of the Trust. This paper presents the new Agreement with France to the Executive Board for information. Including this Agreement with France, the Fund has concluded fifteen new PRGT loan agreements providing total resources of SDR 11.4 billion in the context of the 2014 Board endorsed PRGT fundraising with a goal of SDR 11 billion. To accommodate the better-than-expected outcome, and following consultations with PRGT creditors, the IMF Board increased the PRGT’s cumulative borrowing limit on January 8, 2018. This is the sixth borrowing agreement between France and the Fund as Trustee of the PRGT. The Agreement incorporates the extensions of the commitments and drawdown period for PRGT loans to end-2020 and end-2024, respectively, consistent with the Fund’s framework for concessional lending to low income countries adopted in other PRGT borrowing agreements."
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 149830785X
Category : Business & Economics
Languages : en
Pages : 10
Get Book Here
Book Description
"The Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), has entered into a new borrowing agreement (the “Agreement”) with the Banque de France (hereafter France), effective on February 1, 2018. This new borrowing agreement with France provides new resources to the Extended Credit Facility Loan Account of the PRGT in the total amount of up to SDR 2 billion. Pursuant to Section III, paragraph 2 of the Instrument to establish the PRGT, the Managing Director is authorized to enter into borrowing agreements and agree to their terms and conditions with lenders to the Loan Accounts of the Trust. This paper presents the new Agreement with France to the Executive Board for information. Including this Agreement with France, the Fund has concluded fifteen new PRGT loan agreements providing total resources of SDR 11.4 billion in the context of the 2014 Board endorsed PRGT fundraising with a goal of SDR 11 billion. To accommodate the better-than-expected outcome, and following consultations with PRGT creditors, the IMF Board increased the PRGT’s cumulative borrowing limit on January 8, 2018. This is the sixth borrowing agreement between France and the Fund as Trustee of the PRGT. The Agreement incorporates the extensions of the commitments and drawdown period for PRGT loans to end-2020 and end-2024, respectively, consistent with the Fund’s framework for concessional lending to low income countries adopted in other PRGT borrowing agreements."
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513511726
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 51
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Book Description
This paper provides an update of the adequacy of the resources of the Fund’s Poverty Reduction and Growth Trust (PRGT) and the debt relief trusts. Demand for PRGT loans continued to exceed earlier projections. Total PRGT credit outstanding reached SDR 18.3 billion at end-2023, or three times the pre-pandemic average. PRGT fundraising targets under the 2021 two-stage funding strategy to support LICs during the pandemic and beyond were met. Work is underway to implement the pledges. Ensuring PRGT long-term sustainability is a priority, and balancing a level of PRGT lending that meets the demand from eligible countries while ensuring the long-term sustainability of the Trust will be taken up in the ongoing PRGT Review. The Catastrophe Containment and Relief Trust (CCRT) remains severely underfunded, after providing debt relief to the IMF’s poorest and most vulnerable members during 2020–22. The Heavily Indebted Poor Countries (HIPC) initiative is nearly complete. Somalia reached its Completion Point under the HIPC Initiative in December 2023, while Sudan’s prospects for reaching its HIPC Completion Point remain uncertain owing to domestic developments.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
This paper provides the first review of the adequacy of PRGT finances since the comprehensive reform of the Poverty Reduction and Growth Trust (PRGT) in July 2021. It describes the lending response to the unprecedented pandemic-related demand; updates the PRGT demand scenarios and the estimates of the longer-term PRGT resource needs; reports on progress with the first stage of the two-stage PRGT funding strategy approved in July 2021; and outlines recent developments in the various debt relief initiatives and their status.
Author: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: Ms. Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513572660
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
Is there a tradeoff between raising growth and reducing inequality and poverty? This paper reviews the theoretical and empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on the underlying sources of growth. The impact of poverty and inequality on growth is likewise ambiguous, as several channels mediate the relationship. But most plausible mechanisms suggest that poverty and inequality reduce growth, at least in the long run. Policies play a role in shaping these relationships and those designed to improve equality of opportunity can simultaneously improve inclusiveness and growth.
Author: Stephane Hallegatte
Publisher: World Bank Publications
ISBN: 1464806748
Category : Business & Economics
Languages : en
Pages : 227
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Book Description
Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win†? situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464813566
Category : Business & Economics
Languages : en
Pages : 201
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Book Description
Work is constantly reshaped by technological progress. New ways of production are adopted, markets expand, and societies evolve. But some changes provoke more attention than others, in part due to the vast uncertainty involved in making predictions about the future. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today. Technological progress disrupts existing systems. A new social contract is needed to smooth the transition and guard against rising inequality. Significant investments in human capital throughout a person’s lifecycle are vital to this effort. If workers are to stay competitive against machines they need to train or retool existing skills. A social protection system that includes a minimum basic level of protection for workers and citizens can complement new forms of employment. Improved private sector policies to encourage startup activity and competition can help countries compete in the digital age. Governments also need to ensure that firms pay their fair share of taxes, in part to fund this new social contract. The 2019 World Development Report presents an analysis of these issues based upon the available evidence.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1484330870
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
IMF Financial Operations 2018 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and provides background detail on the financial statements. It reviews the IMF's three main activities: lending, surveillance, and technical assistance.
