Eligibility to Use the Fund's Facilities for Concessional Financing for 2017 / International Monetary Fund.

Format:

Book

Author/Creator:

International Monetary Fund, issuing body, author.

Series:

Policy Papers

Language:

English

Subjects (All):

Capital market--Law and legislation.

Capital market.

Physical Description:

1 online resource (27 pages).

Place of Publication:

Washington, District of Colombia : International Monetary Fund, 2017.

Summary:

The review of PRGT-eligibility, conducted biennially, is guided by a transparent, rules-based, and parsimonious framework. The framework determines which IMF members can access concessional resources based on an assessment of their level of income per capita, market access, and serious short-term vulnerabilities. Application of the framework should be consistent with the self-sustainability of the PRGT's lending capacity over time. This paper concludes that the existing framework remains generally appropriate. The PRGT-eligibility framework is broadly aligned with the World Bank's International Development Association practices, with minor differences between the lists of eligible countries explained by differences in the mandates of the two institutions and the timing of their respective review cycles. None of the countries that have graduated from the PRGT-eligibility list are at immediate risk of re-entering it. No country is proposed for graduation from or entry onto the PRGT-eligibility list. While thirteen countries meet either the income or market access graduation criterion, all are assessed to be facing serious short-term vulnerabilities and thus none are proposed for graduation. No non-PRGT-eligible country meets the criteria for entry onto the PRGT-eligibility list. The proposal to keep the list of PRGT-eligible countries unchanged is consistent with the self-sustained capacity of the PRGT.

Contents:

Acronyms and Abbreviations

INTRODUCTION

CURRENT FRAMEWORK

ALIGNMENT WITH IDA PRACTICES

RISK OF REVERSE GRADUATION

ASSESSMENT OF THE FRAMEWORK AND LIST OF COUNTRIES ELIGIBLE FOR PRGT GRADUATION

FINANCING IMPLICATIONS

ISSUES FOR DISCUSSION

BOXES

1. Criteria for Entry and Graduation from PRGT Eligibility

2. IDA Policies

FIGURES

1. PRGT-vs. IDA-Eligible Countries by Type

2. GNI per Capita of 2010 Graduates

3. GNI per Capita of Recent Graduates

TABLES

1. PRGT Graduates 2010-15

2. Countries that Meet Income and/or Market Access Graduation Criteria

3. Projected Demand for PRGT Resources Under Alternative Scenarios

ANNEXES

I. PRGT Graduation Criteria

II. Tables on GNI Per Capita and Debt

III. Assessment of Countries that Meet the Income or Market Access Criteria for Graduation and are not Assessed to be at High Risk of Debt Distress or in Debt Distress

References.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781498387354

1498387357