Factsheets List

Accurate and up-to-date information on the work of the IMF has been in high demand throughout the economic crisis. Our factsheets are a popular outreach tool, with over a million internet “visits” a year. The factsheets provide a web-friendly, plain-English explanation of the work of the IMF on the issues of most importance to our key stakeholders as well as to those developing an interest in our work.

We welcome feedback on our factsheets. Comments should be sent to: exrpolicycom@imf.org.


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Factsheet -- Technical Assistance: Topical Trust Funds  Six topical trust funds (TTFs) support IMF technical assistance (TA) on specialized thematic areas across all geographic regions. TTFs complement other delivery modes of IMF TA—including through regional technical assistance centers—and are closely aligned with recipients' development strategies. Two country trust funds provide tailored capacity development for fragile states, which have large and distinct needs. Donors are actively engaged in the governance of these funds. October 06, 2014
Factsheet -- IMF Surveillance  The IMF is mandated to oversee the international monetary system and monitor the economic and financial policies of its member countries. This activity is known as surveillance. As part of this process, which takes place both at the global level and in individual countries, the IMF highlights possible risks to stability and advises on needed policy adjustments. In this way, it helps the international monetary system serve its essential purpose of facilitating the exchange of goods, services, and capital among countries, thereby sustaining sound economic growth.October 03, 2014
Factsheet -- Special Drawing Rights (SDRs)  The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. With a general SDR allocation that took effect on August 28, 2009 and a special allocation on September 9, 2009, the amount of SDRs increased from SDR 21.4 billion to around SDR 204 billion (equivalent to about $309 billion, converted using the rate of September 4, 2014).October 03, 2014
Factsheet -- Protecting IMF Resources: Safeguards Assessments of Central Banks  When the IMF provides a loan to a country, a due diligence exercise is carried out to obtain assurances that the country's central bank receiving IMF resources is able to adequately manage the funds, and provide reliable information. Experience with these October 03, 2014
Factsheet -- Reforms to IMF Surveillance since the Financial Crisis  Following the 2011 Triennial Surveillance Review (TSR), the IMF has undertaken major initiatives to strengthen surveillance to respond to a more globalized and interconnected world. These initiatives include revamping the legal framework for surveillance, deepening analysis of risks and spillovers, strengthening financial surveillance of systemic risk, stepping up assessments of members' external positions, and responding more promptly to concerns of the membership. The 2014 TSR, completed in September 2014, proposes steps to strengthen implementation of reforms in these areas, and also to ensure that surveillance is well-equipped to address emerging challenges and support sustainable growth in an interconnected post-crisis world. This factsheet outlines recent actions in priority areas.October 03, 2014
Factsheet -- IMF Quotas  Quota subscriptions generate most of the IMF's financial resources. Each member country of the IMF is assigned a quota, based broadly on its relative position in the world economy. A member country's quota determines its maximum financial commitment to the IMF, its voting power, and has a bearing on its access to IMF financing.October 03, 2014
Factsheet -- The IMF and Legislators  The IMF conducts outreach to legislators in its member countries in order to learn more about their views and concerns, explain Fund policy advice, and discuss policy trade-offs. This ongoing dialogue contributes to greater transparency, ownership, and accountability of economic policy choices. The legislative branch of government is essential to economic policy-making in most countries. Legislatures approve budgets and pass tax, banking, and trade laws. They oversee their government's economic policies, and provide forums for public information and debate. October 03, 2014
Factsheet -- IMF HQ1 Renewal Program  In 2013, the older of the IMF’s two headquarters buildings (HQ1) in downtown Washington, D.C., started an extensive renovation to replace aging and failing systems. When work is completed in 2017, the renovated building is expected to cut energy bills by nearly half and will help the IMF achieve the highest sustainability standards.October 03, 2014
Factsheet -- A Guide To Committees, Groups, And Clubs  Political leaders and officials from around the world shape the work of the IMF through their various fora and bodies. With the IMF at the center of the coordinated global response to events in international financial markets and the world's economies, understanding what these groups do and how they work is important. October 03, 2014
Factsheet -- Gold in the IMF  Gold played a central role in the international monetary system until the collapse of the Bretton Woods system of fixed exchange rates in 1973. Since then, its role has diminished. But it remains an important asset in the reserve holdings of several countries, and the IMF is still one of the world’s largest official holders of gold. In line with the new income model for the Fund agreed in April 2008, profits from limited gold sales were used to establish an endowment, and used to boost the IMF’s concessional lending capacity to eligible low-income countries (LICs).October 03, 2014
Factsheet -- IMF Standing Borrowing Arrangements  While quota subscriptions of member countries are the IMF's main source of financing, the Fund can supplement its quota resources through borrowing if it believes that they might fall short of members' needs. Through the New Arrangements to Borrow (NAB), the IMF's main backstop for quota resources, a number of member countries and institutions stand ready to lend additional resources to the IMF.October 03, 2014
Factsheet -- Where the IMF Gets Its Money  Most resources for IMF loans are provided by member countries, primarily through their payment of quotas. Multilateral and bilateral borrowing arrangements provide a further backstop to IMF resources. In March 2011, the expanded and more flexible New Arrangements to Borrow (NAB) came into effect and was activated shortly thereafter. In addition, the Fund has signed a number of bilateral loan and note purchase agreements, which can be used to finance IMF-supported programs approved prior to the NAB activation. In the context of continued global financial instability, the Fund and creditor members are currently negotiating a 2012 round of bilateral loan and note purchase agreements to backstop quota and expanded NAB resources. Concessional lending and debt relief for low-income countries are financed through separate contribution-based trust funds.October 03, 2014
Factsheet -- The IMF and Civil Society Organizations  Civil society organizations (CSOs) are now more vocal than in the past. They are experts in economic issues and their influence expands to parliaments and governments. Whether national, regional, or international, the way CSOs do business has been profoundly affected by globalization. CSOs increasingly employ extensive networks to pursue their activities and to try to influence policies on a broad range of issues. Many CSOs focus on economic matters at the core of the work of the IMF and other international organizations. The IMF is committed to being transparent about its work, to explaining itself, to listening to the people whom it affects, and it engages with CSOs through information sharing, dialogue, and consultation at both global and national levels.October 03, 2014
Factsheet -- Standards and Codes: The Role of the IMF  Standards and codes are benchmarks of good practices. The IMF and the World Bank have recognized international standards in 12 policy areas related to their work. In assessing countries observance of these standards, and helping them to implement reforms where needed, the IMF and the World Bank aim to increase economic and financial stability by strengthening domestic economic and financial institutions.October 01, 2014
Factsheet -- Financial System Soundness  Weak financial institutions, inadequate regulation and supervision, and lack of transparency were at the heart of the financial crises of the late 1990s as well as the recent global financial crisis. The recent crisis also highlighted the importance of effective systemic risk monitoring and management. This is why the IMF has stepped up efforts to help countries implement policies to support sound financial systems.October 01, 2014
Factsheet -- Poverty Reduction Strategy Papers (PRSP)  Successful plans to fight poverty require country ownership and broad based support from the public in order to succeed. A PRSP describes the macroeconomic, structural, and social policies and programs that a country will pursue over several years to promote growth and reduce poverty, as well as external financing needs and the associated sources of financing. They are prepared by governments in low-income countries through a participatory process involving domestic stakeholders and external development partners, including the IMF and the World Bank.September 30, 2014
Factsheet -- IMF Support for Low-Income Countries  In 2009, the IMF upgraded its support for low-income countries, reflecting the changing nature of economic conditions in these countries and their increased vulnerabilities due to the effects of the global economic crisis. It has overhauled its lending instruments, especially to address more directly countries' needs for short-term and emergency support. Concessional lending commitments were about $10 billion in the period September 30, 2014
Factsheet -- The IMF's Post-Catastrophe Debt Relief Trust  Following the devastating earthquake in Haiti in January 2010, the IMF established a Post-Catastrophe Debt Relief (PCDR) Trust that allows the Fund to join international debt relief efforts for very poor countries that are hit by the most catastrophic of natural disasters. Such debt relief is intended to free up additional resources to meet exceptional balance of payments needs created by the disaster and the recovery, complementing fresh donor financing and the Fund's concessional liquidity support through the Poverty Reduction and Growth Trust (PRGT).September 30, 2014
Factsheet -- The Multilateral Debt Relief Initiative  The Multilateral Debt Relief Initiative (MDRI) provides for 100 percent relief on eligible debt from three multilateral institutions to a group of low-income countries. The initiative is intended to help them advance toward the United Nations' Millennium Development Goals (MDGs), which are focused on halving poverty by 2015.September 30, 2014
Factsheet -- The IMF and the Millennium Development Goals  The Millennium Development Goals (MDGs) are a set of development targets agreed by the international community, which center on halving poverty and improving the welfare of the world’s poorest by 2015. The IMF contributes to this effort through its advice, technical assistance, and lending to countries, as well as its role in mobilizing donor support. Together with the World Bank, it assesses progress toward the MDGs through an annual Global Monitoring Report. September 30, 2014
Factsheet -- The IMF's Advice on Labor Market Issues   The IMF's Articles of Agreement commit the institution to the promotion and maintenance of high levels of employment and real income. This commitment has been reaffirmed over the years, with IMF management often stressing the importance of employment for social cohesion. In the wake of the global economic crisis, unemployment rose sharply in many countries, heightening the need to create conditions for job creation and inclusive growth.September 30, 2014
Factsheet: The Joint World Bank-IMF Debt Sustainability Framework for Low-Income Countries  Low-income countries (LICs) have often struggled with large external debts. Debt burdens have been reduced, thanks in large part to international debt relief initiatives. As part of the Millennium Development Goals (MDG), the IMF and the World Bank have developed a framework to help guide countries and donors in mobilizing the financing of LICs' development needs, while reducing the chances of an excessive build-up of debt in the future. The joint World Bank–International Monetary Fund Debt Sustainability Framework (DSF) was introduced in April 2005, and is periodically reviewed, to address this challenge. The most recent review was discussed in 2012 and the next review is set for 2015.September 30, 2014
Factsheet - The IMF and the World Bank  The International Monetary Fund (IMF) and the World Bank are institutions in the United Nations system. They share the same goal of raising living standards in their member countries. Their approaches to this goal are complementary, with the IMF focusing on macroeconomic issues and the World Bank concentrating on long-term economic development and poverty reduction.September 30, 2014
Factsheet -- Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative  The joint IMF–World Bank comprehensive approach to debt reduction is designed to ensure that no poor country faces a debt burden it cannot manage. To date, debt reduction packages under the HIPC Initiative have been approved for 36 countries, 30 of them in Africa, providing $75 billion in debt-service relief over time. Three additional countries are eligible for HIPC Initiative assistance. September 30, 2014
Factsheet -- How the IMF Makes Decisions?  The IMF has evolved along with the global economy throughout its 70-year history, allowing the organization to retain a central role within the international financial architecture. Unlike the General Assembly of the United Nations, where each country has one vote, decision making at the IMF was designed to reflect the relative positions of its member countries in the global economy. The IMF continues to undertake reforms to ensure that its governance structure adequately reflects fundamental changes taking place in the world economy. Current reforms are intended to reflect the larger role that emerging market and developing economies now play in the global economy.September 30, 2014
Factsheet -- The IMF and Good Governance  The IMF places great emphasis on promoting good governance when providing policy advice, financial support, and technical assistance to its member countries. The IMF also has strong measures in place to ensure integrity, impartiality, and honesty in the discharge of its own professional obligations.September 30, 2014
Factsheet -- The Financial Sector Assessment Program (FSAP)  The global financial crisis showed that the health of a country's financial sector has far-reaching implications for its economy as well as for other economies. The Financial Sector Assessment Program (FSAP), established in 1999, is a comprehensive and in-depth analysis of a country's financial sector. FSAP assessments are the joint responsibility of the IMF and World Bank in developing and emerging market countries and of the Fund alone in advanced economies, and include two major components: a financial stability assessment, which is the responsibility of the Fund and, in developing and emerging market countries, a financial development assessment, the responsibility of the World Bank. To date, more than three-quarters of the member countries have undergone assessments.September 30, 2014
Factsheet -- IMF Conditionality  When a country borrows from the IMF, its government agrees to adjust its economic policies to overcome the problems that led it to seek financial aid from the international community. These loan conditions also serve to ensure that the country will be able to repay the Fund so that the resources can be made available to other members in need. Lending reforms approved in 2009 streamlined IMF conditionality in order to promote national ownership of strong and effective policies.September 30, 2014
Factsheet -- Financing the Fund's Concessional Lending to Low-Income Countries  To strengthen its support for low-income countries (LICs) and to meet demand for financing from LICs in need, the IMF reformed its concessional lending facilities in 2010. In September 2012, the Fund also adopted a strategy to establish long-term concessional lending capacity of about SDR 1ÂĽ billion ($2 billion) a year on average, financed, in part, by the use of resources linked to windfall profits from gold sales.September 30, 2014
Factsheet -- The IMF's Trade Integration Mechanism (TIM)  The Trade Integration Mechanism (TIM) was introduced in April 2004 to assist member countries to meet balance of payments shortfalls that might result from trade liberalization measures implemented by other countries. The TIM is not a special lending facility, but rather a policy designed to make resources more predictably available under existing IMF lending facilities.September 22, 2014
Factsheet -- IMF Standby Credit Facility  The Standby Credit Facility (SCF) provides financial assistance to low-income countries (LICs) with short-term balance of payments needs. The SCF was created under the newly established Poverty Reduction and Growth Trust (PRGT) as part of a broader reform to make the Fund's financial support more flexible and better tailored to the diverse needs of LICs, including in times of crisis. The SCF replaces the High-Access Component of the Exogenous Shocks Facility. It provides support under a wider range of circumstances, allows for higher access, carries a lower interest rate, can be used on a precautionary basis, and places greater emphasis on the country's poverty reduction and growth objectives.September 22, 2014
Factsheet -- IMF Stand-By Arrangement  In an economic crisis, countries often need financing to help them overcome their balance of payments problems. Since its creation in June 1952, the IMF's Stand-By Arrangement (SBA) has been used time and again by member countries, it is the IMF's workhorse lending instrument for emerging and advanced market countries. Rates are non-concessional, although they are almost always lower than what countries would pay to raise financing from private markets. The SBA was upgraded in 2009 along with the Fund’s broader toolkit to be more flexible and responsive to member countries’ needs. Conditions were streamlined and simplified, and more funds were made available up front, as borrowing limits were doubled in response to the global financial crisis. The new framework also enables broader high-access borrowing on a precautionary basis.September 22, 2014
Factsheet -- IMF Rapid Credit Facility  The Rapid Credit Facility (RCF) provides rapid financial assistance with limited conditionality to low-income countries (LICs) facing an urgent balance of payments need. The RCF was created under the newly established Poverty Reduction and Growth Trust (PRGT) as part of a broader reform to make the Fund's financial support more flexible and better tailored to the diverse needs of LICs, including in times of crisis. The RCF streamlines the Fund's emergency assistance, provides significantly higher levels of concessionality, can be used flexibly in a wide range of circumstances, and places greater emphasis on the country's poverty reduction and growth objectives.September 22, 2014
Factsheet -- The Policy Support Instrument  The Policy Support Instrument (PSI) supports low-income countries that do not want—or need—Fund financial assistance but seek to consolidate their economic performance with IMF monitoring and support. This non-financial instrument is a valuable complement to the IMF's lending facilities under the Poverty Reduction and Growth Trust. The PSI helps countries design effective economic programs that, once approved by the IMF's Executive Board, delivers clear signals to donors, multilateral development banks, and markets of the Fund's endorsement of the strength of a member's policies.September 22, 2014
Factsheet -- Protecting the Most Vulnerable under IMF-supported Programs  Under IMF-supported programs, the Fund helps governments to protect and even increase social spending, including social assistance. In particular, the IMF promotes measures to increase spending on, and improve the targeting of, social safety net programs that can mitigate the impact of some reform measures on the most vulnerable in society. Below are some examples from the major regions of the world of how IMF-supported programs seek to protect social spending in a way that is both fiscally-sustainable and cost-effective.September 22, 2014
Factsheet -- The G-20 Mutual Assessment Process (MAP)  Leaders of the Group of Twentyindustrialized and emerging market economies (G20) pledged at their2009 Pittsburgh Summit to work together to ensure a lasting recovery and strong and sustainable growth over the medium term. To meet this goal, they launched the Framework for Strong, Sustainable, and Balanced Growth. The backbone of this framework is a multilateral process through which G20countries identify objectives for the global economy, the policies needed to reach them, and the progress toward meeting these shared objectives—the so-called Mutual Assessment Process (MAP). On the request of the G20, the IMF provides technical analysis to evaluate key imbalances and how members' policies fit together—and whether, collectively, they can achieve the G20's goals. This factsheet focuses on the key procedural steps of the MAP.September 22, 2014
Factsheet -- How Does the IMF Encourage Greater Fiscal Transparency?  Fiscal transparency is a critical element of fiscal management and accountability. It ensures that governments have an accurate picture of their fiscal position and prospects, the long-term costs and benefits of any policy changes, and the potential risks that may blow them off course. It also provides legislatures, markets, and citizens with the information they need to hold governments accountable. The IMF's new Fiscal Transparency Code and Evaluation, described in the Update on the Fiscal Transparency Initiative, are part of its efforts to strengthen fiscal surveillance, support policymaking, and improve fiscal accountability.September 22, 2014
Factsheet -- The IMF's Flexible Credit Line (FCL)  The Flexible Credit Line (FCL) was designed to meet the demand for crisis-prevention and crisis-mitigation lending for countries with very strong policy frameworks and track records in economic performance. This instrument was created as part of the process of reforming how the IMF lends money to countries that find themselves in a cash crunch, with the idea of tailoring its lending instruments to the diverse needs and circumstances of member countries. To date, three countries, Colombia, Mexico, and Poland, have used the FCL. While none of the three countries have so far drawn down on these lines, the FCL has provided valuable insurance to these countries and helped boost market confidence during the period of heightened risks.September 22, 2014
Factsheet -- The Exogenous Shocks Facility- High Access Component (ESF-HAC)  The Exogenous Shocks Facility-High Access Component (ESF-HAC), which was established in 2008, has provided concessional financing to PRGT-eligible countries facing balance of payments needs caused by sudden and exogenous shocks. As part of a broader reform to make the Fund's financial support more flexible and better tailored to the diverse needs of LICs, the ESF-HAC has been superseded by the Standby Credit Facility (SCF). Credit outstanding from ESF-HAC arrangements amounts to SDR 670 million as of September 2014, and ESF-HAC terms will continue to apply to these balances. September 22, 2014
Factsheet -- The IMF's Extended Fund Facility (EFF)  When a country faces serious medium-term balance of payments problems because of structural weaknesses that require time to address, the IMF can assist with the adjustment process under an Extended Fund Facility (EFF). Compared to assistance provided under the Stand-by Arrangement, assistance under an extended arrangement features longer program engagement—to help countries implement medium-term structural reforms—and a longer repayment period. September 22, 2014
Factsheet -- IMF Extended Credit Facility  The Extended Credit Facility (ECF) provides financial assistance to countries with protracted balance of payments problems. The ECF was created under the newly established Poverty Reduction and Growth Trust (PRGT) as part of a broader reform to make the Fund's financial support more flexible and better tailored to the diverse needs of Low Income Countries (LICs), including in times of crisis. The ECF succeeds the Poverty Reduction and Growth Facility (PRGF) as the Fund's main tool for providing medium-term support to LICs, with higher levels of access to financial resources, more concessional financing terms, more flexible program design features, as well as streamlined and more focused conditionality.September 22, 2014
Factsheet - IMF Standards for Data Dissemination  The IMF has taken several important steps to enhance transparency and openness, including setting voluntary standards for the dissemination of economic and financial data. The Special Data Dissemination Standard (SDDS) was established in 1996 to guide members that have, or that might seek, access to international capital markets in the provision of their economic and financial data to the public. The General Data Dissemination System (GDDS) was established in 1997 for member countries with less developed statistical systems as a framework for evaluating their needs for data improvement and setting priorities. In 2012, the SDDS Plus was created as an upper tier of the IMF's Data Standards Initiatives to help address data gaps identified during the global financial crisis. Today over 90 percent of the IMF's member countries participate in the GDDS or SDDS.September 22, 2014
Factsheet -- IMF Crisis Lending  Economic and financial crises can take many forms. The IMF assists countries hit by crises by providing them financial support to create breathing room as they implement corrective policies to restore economic stability and growth. As crisis prevention is more effective than crisis resolution, the Fund also provides precautionary financing to help prevent and insure against crises. The IMF's lending instruments have evolved in recent years to meet countries' changing needs.September 22, 2014
Factsheet -- Transparency at the IMF  Transparency in economic policy and access to reliable data on economic and financial developments are critical for sound decision-making and for the smooth functioning of an economy. The IMF has policies in place to ensure that meaningful and accurate information—both about its own role in the global economy and the economies of its member countries—is provided in real time to its global audiences. September 18, 2014
Factsheet -- Managing Director Selection Process  The IMF's Managing Director is both Chairperson of the IMF's Executive Board and Head of IMF staff. The Managing Director is assisted by three Deputy Managing Directors. He or she is appointed by the Executive Board for a renewable term of five years. Although the Executive Board may select a Managing Director by a majority of votes cast, the Board has in the past made such appointments by consensus.September 18, 2014
Factsheet -- The IMF and the World Trade Organization  The IMF and the WTO are international organizations with nearly 150 members in common. While the IMF's central focus is on the international monetary and financial system, and the WTO's is on the international trading system, both work together to ensure a sound system for global trade and payments.September 18, 2014
Factsheet -- The IMF at a Glance  The International Monetary Fund (IMF) works to foster international monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 188 countries that make up its near-global membership.September 18, 2014
Factsheet -- The IMF and Europe  The IMF is actively engaged in Europe as a provider of policy advice, financing, and technical assistance. We work both independently and, in European Union (EU) countries, in cooperation with European institutions, such as the European Commission (EC) and the European Central Bank (ECB). The IMF's work in Europe has intensified since the start of the global financial crisis in 2008, and has been further stepped up since mid-2010 as a result of the euro area crisis.September 18, 2014
Factsheet -- IMF’s Response to the Global Economic Crisis  Since the onset of the global economic crisis in 2007, the IMF has mobilized on many fronts to support its 188 member countries. It increased and deployed its lending firepower, used its cross-country experience to offer policy solutions, and introduced reforms that made it better equipped to respond to countries' needs.September 18, 2014
Factsheet - The 2014 Annual Meetings  The Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group each year bring together central bankers, ministers of finance and development, private sector executives, civil society, and academics to discuss issues of global concern, including the world economic outlook, global financial stability, poverty eradication, jobs and growth, economic development, and aid effectiveness. The Meetings, which are widely covered by the international media, also offer an opportunity for civil society organizations to share their views and interact with policymakers in a global setting.September 18, 2014
Factsheet -- IMF Regional Training Centers and Programs   Seven regional training centers (RTCs) and programs (RTPs) offer hands-on, policy-oriented training in macroeconomics, finance, and related operational fields for country officials to assist them in their capacity development efforts. Key objectives include strengthening the formulation and implementation of sound policies and the quality of the country's policy dialogue with the IMF. September 17, 2014
Factsheet -- Technical Assistance and Training  The IMF helps its member countries design economic policies and manage their financial affairs more effectively by strengthening their human and institutional capacity through technical assistance and training. The IMF aims to exploit synergies between technical assistance and training—which it calls capacity development—to maximize their effectiveness. September 17, 2014
Factsheet - IMF Regional Technical Assistance Training Centers  Nine regional technical assistance centers in the Pacific, the Caribbean, Africa, the Middle East, and Central America help countries strengthen human and institutional capacity to design and implement policies that promote growth and reduce poverty.September 17, 2014
Factsheet -- The IMF's Rapid Financing Instrument (RFI)  The Rapid Financing Instrument (RFI) provides rapid financial assistance to all member countries facing an urgent balance of payments need. The RFI was created as part of a broader reform to make the IMF's financial support more flexible to address the diverse needs of member countries. The RFI has replaced the IMF's previous emergency assistance policy and can be used in a wide range of circumstances.September 05, 2014
Factsheet -- Post-Program Monitoring  When a member country borrows money from the IMF, its policies come under closer scrutiny. Once a country has completed its lending program, it may enter into a process known as Post-Program Monitoring (PPM). This process is presumed for all member countries that have substantial IMF credit outstanding following the expiration of their programs. The enhanced monitoring is intended to ensure the continued viability of a country's economic framework and provide early warning of policies that could jeopardize the country's external viability and, hence, its capacity to repay the IMF. Should it become necessary, IMF staff will advise on policy actions to correct macroeconomic imbalances.September 05, 2014
Factsheet -- The IMF's Precautionary and Liquidity Line (PLL)  The global economic crisis highlighted the need for effective global financial safety nets to help countries cope with adverse shocks. A key objective of recent lending reforms was to complement the traditional crisis resolution role of the IMF with more effective tools for crisis prevention. The Precautionary and Liquidity Line (PLL)—which replaces the Precautionary Credit Line (PCL)—is designed to meet flexibly the liquidity needs of member countries with sound economic fundamentals but with some remaining vulnerabilities that preclude them from using the Flexible Credit Line (FCL).September 05, 2014
Factsheet - Transparency in Monetary and Financial Policies  Monetary and financial policies can be more effective if their objectives, rationale, and methods of implementation are communicated to the public in a clear and timely manner. Such transparency by central banks and financial agencies responsible for the supervision and regulation of financial institutions and markets can also foster more informed market expectations and greater public accountability. The IMF has developed a September 05, 2014
Factsheet -- IMF Lending  A core responsibility of the IMF is to provide loans to member countries experiencing balance of payments problems. This financial assistance enables countries to rebuild their international reserves, stabilize their currencies, continue paying for imports, and restore conditions for strong economic growth, while undertaking policies to correct underlying problems. Unlike development banks, the IMF does not lend for specific projects.September 05, 2014
Factsheet - How the IMF Promotes Global Economic Stability  The IMF advises member countries on economic and financial policies that promote stability, reduce vulnerability to crises, and encourage sustained growth and high living standards. It also reviews and publishes global economic trends and developments that affect the health of the international monetary and financial system and promotes dialogue among member countries on the regional and global consequences of their policies. In addition to these activities, which constitute “surveillance,” the IMF provides technical assistance to help strengthen members’ institutional capacity and makes resources available to them to facilitate adjustment in the event of a balance of payments crisis.September 05, 2014
Factsheet -- IMF-FSB Early Warning Exercise  One of the lessons of the current crisis is the need for better analysis of the underlying risks to the global economy, including plausible worst case scenarios. In April 2009, officials called on the IMF to improve its analysis of systemic risks, including through linkages between the financial sector and the real economy, and cross-border spillovers. They mandated the IMF and the Financial Stability Board (FSB) to collaborate in conducting Early Warning Exercises (EWE). The EWE is designed to strengthen assessments of low probability but high impact risks to the global outlook, and identify policy options to mitigate them. It seeks to integrate macroeconomic and financial perspectives on systemic risks, drawing on a range of quantitative tools and broad-based consultations.September 05, 2014
Factsheet -- Climate, Environment, and the IMF  Stabilizing atmospheric concentrations of greenhouse gases will require a radical transformation of the global energy system over coming decades. Fiscal instruments (carbon taxes or similar) are the most effective policies for reflecting environmental costs in energy prices and promoting development of cleaner technologies, while also providing a valuable source of revenue (including, not least, for lowering other tax burdens). Fiscal policies also have a key role to play in addressing other environmental challenges, like poor air quality and urban congestion. Getting energy prices right has large fiscal, environmental, and health benefits, and need not wait on global action.September 05, 2014
Factsheet -- The IMF and the Fight Against Money Laundering and the Financing of Terrorism  Money laundering and the financing of terrorism are financial crimes with economic effects. They can threaten the stability of a country's financial sector or its external stability more generally. Effective anti-money laundering and combating the financing of terrorism regimes are essential to protect the integrity of markets and of the global financial framework as they help mitigate the factors that facilitate financial abuse. Action to prevent and combat money laundering and terrorist financing thus responds not only to a moral imperative, but also to an economic need.September 05, 2014
Factsheet -- Asia and the IMF  As Asia grows in economic importance, relations between it and the IMF are also being revitalized. Both the Fund and the countries of the region have drawn lessons from past experience and are strengthening a partnership that will build on the region's economic success and resilience.October 07, 2013
Factsheet -- Integrated Surveillance Decision  On July 18, 2012, the Executive Board of the International Monetary Fund (IMF) adopted a new Decision on Bilateral and Multilateral Surveillance, also known as the Integrated Surveillance Decision (ISD). The ISD took effect on January 18, 2013. The ISD provides guidance to the Fund and member countries on their roles and responsibilities in surveillance. The adoption of the ISD is part of a broader effort to ensure that surveillance remains relevant and effective amidst the changing global economic landscape.September 30, 2013