Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options

Released on by International Monetary Fund. Legal Dept.
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  • Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options Book Detail

  • Author : International Monetary Fund. Legal Dept.
  • Release Date : 2009-06-02
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 48
  • ISBN 13 : 1498336310
  • File Size : 28,28 MB
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Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options by International Monetary Fund. Legal Dept. PDF Summary

Book Description: In the context of the ongoing review of Fund facilities, this paper examines the analytical basis for Fund lending in emerging market countries and provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit. The Fund’s important lending role in crisis prevention and resolution is buttressed by its unique characteristics: (i) its ability as a nonatomistic lender to provide large-scale financing and reduce the likelihood of a run by private creditors; (ii) its ability as a cooperative institution with near-universal membership to agree conditionality with members, thus providing national authorities with a policy commitment tool to underpin confidence and catalyze private lending; and (iii) its de facto preferred creditor status, which allows it to provide crisis financing when private creditors may be reluctant to lend.

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