Report on Access to Fund Resources During 2003
February 5, 2004

Public Information Notice: IMF Concludes Discussion on Access Policy in the Context of Capital Account Crises; and Review of Access Policies in the Credit Tranches and the Extended Fund Facility
March 21, 2003

Review of Access Policy Under the Credit Tranches and the Extended Fund Facility
January 14, 2003

Access Policy in Capital Account Crises
July 29, 2002

Public Information Notice: Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility
September 28, 2001

Review of Access Policy in the Credit Tranches and under the Extended Fund Facility
August 8, 2001

Review of Access Policy in the Credit Tranches and under the Extended Fund Facility—Background Paper
August 9, 2001



Access Policy in Capital Account Crises—Modifications to the Supplemental Reserve Facility (SRF) and Follow-up Issues Related to Exceptional Access Policy

Prepared by the Policy Development and Review and Treasurer's Departments (In Consultation with other Departments)

January 14, 2003

Use the free Adobe Acrobat Reader to view the full text (203kb PDF file).

Contents


I. Introduction

II. Operational Aspects of the Framework for Exceptional Access
      A. Board Involvement in Exceptional Access Cases
      B. Private Sector Financing in Exceptional Access Cases
      C. Use of Alternative Metrics

III. Maturity of Fund Lending in Capital Account Crises
      A. Purpose and Terms of the SRF
      B. The Mix of Resources Under Recent Arrangements
      C. Variation in the Duration of the Balance of Payments Need
      D. A Possible Lengthening of SRF Purchase Maturities

IV. Access When a Debt Restructuring is Needed

V. Issues For Discussion and Budgetary Implications for the Fund

Boxes
1. Template for Alternative Metrics in Considering Access
2. Supplemental Reserve Facility (SRF)

Tables
1. Use of Exceptional Access, 1995-2002
2. Proposed Changes in Terms of the SRF

Figures
1. Programmed Debt Service in Some Members with Capital Account Crises
2. SRF vs. SBA Cumulative Repurchase Obligations
3. SRF Spreads