Borrowing by the Fund - Operational Issues

Date:	June 17, 2009
Electronic Access:	Full Text
Subject(s):	Borrowing by Fund | Borrowing agreements | New Arrangements to Borrow | General Arrangements to Borrow | Fund financial position | Fund liquidity | Lending commitments by Fund | Forward commitment capacity | Borrowed resources use
Summary: An increase in the Fund’s resources available to assist its members represents an important part of the multilateral response to the global crisis. To this end, the IMFC agreed in April that there should be an increase in the resources available to the Fund through immediate financing from members of $250 billion, subsequently incorporated into an expanded and more flexible New Arrangements to Borrow (NAB), increased by up to $500 billion. Recognizing that IMF is, and shall remain, a quota-based institution, the IMFC also called for the completion of the Fourteenth General Review of Quotas by January 2011. This is consistent with borrowing being a temporary arrangement to supplement Fund resources to address the current crisis.