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Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498339603
Category : Business & Economics
Languages : en
Pages : 7
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Book Description
Effective November 12, 2012, the Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT), entered into a borrowing agreement (the “Agreement”) with the National Bank of Belgium, by which Belgium will provide new loan resources of up to SDR 350 million (see attachment). With this Agreement, the Fund has concluded fourteen new borrowing agreements providing total resources of SDR 9,811 million in the context of fundraising under the 2009 Low-Income Countries (LICs) financing package.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498339603
Category : Business & Economics
Languages : en
Pages : 7
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Book Description
Effective November 12, 2012, the Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT), entered into a borrowing agreement (the “Agreement”) with the National Bank of Belgium, by which Belgium will provide new loan resources of up to SDR 350 million (see attachment). With this Agreement, the Fund has concluded fourteen new borrowing agreements providing total resources of SDR 9,811 million in the context of fundraising under the 2009 Low-Income Countries (LICs) financing package.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498346383
Category : Business & Economics
Languages : en
Pages : 13
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Book Description
The Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), has entered into new borrowing agreements with the National Bank of Belgium (Belgium) and the Swiss National Bank (Switzerland), effective on August 30, 2017. These new borrowing agreements with Belgium and Switzerland provide new resources equivalent to SDR 350 million and SDR 500 million, respectively, for a total amount equivalent to SDR 850 million in new PRGT lending resources.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
This paper presents the last six borrowing agreements that were concluded between October 2023 and February 2024 to provide new loan resources to the Poverty Reduction and Growth Trust (PRGT) as part of the loan mobilization round launched in July 2021 to support low-income countries (LICs) during the pandemic and beyond. Five of the six agreements use SDRs in the context of SDR channeling. Together these borrowing agreements provide a total amount of SDR 3.9 billion in new PRGT loan resources. The 2021 loan fundraising campaign was concluded successfully. It mobilized total contributions of SDR 14.65 billion from 17 PRGT lenders, well exceeding the SDR 12.6 billion loan target.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513587579
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
This paper presents two new borrowing agreements for the Poverty Reduction and Growth Trust (PRGT). These two agreements with the IMF, acting as Trustee for the PRGT, and the Government of Canada and the People’s Bank of China respectively have been finalized as part of the resource mobilization effort in response to the unprecedented demand for concessional financing driven by the COVID-19 pandemic and ensuing economic shocks. The fast-track loan mobilization round launched in April 2020 allowed the Fund to increase access limits and scale up emergency financing to low-income countries (LICs). To date, eleven new agreements and the augmentation of five existing agreements have been finalized with sixteen lenders (for previous updates see the October 2020 paper and the March 2021 paper. Together, these agreements and augmentations provide a total of SDR 16.9 billion in new PRGT loan resources for LICs, of which SDR 15.1 billion is immediately available.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513575937
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
This paper presents to the Executive Board for information the second set of new borrowing agreements for the Poverty Reduction and Growth Trust.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 18
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Book Description
This paper presents the first set of borrowing agreements that have been finalized as part of the loan mobilization round launched in July 2021 to cover the cost of pandemic-related lending and support the self-sustainability of the Poverty Reduction and Growth Trust (PRGT). All agreements presented use SDRs in the context of SDR channeling and together provide a total of SDR 2.85 billion in new PRGT loan resources for low-income countries (LICs).
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1513568817
Category : Business & Economics
Languages : en
Pages : 74
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Book Description
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.
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 Fund. Treasurer's Dept.
Publisher: International Monetary Fund
ISBN: 1498328741
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
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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.
