Blackout Periods in GRA Arrangements and the Extended Rights to Purchase Policy

Blackout Periods in GRA Arrangements and the Extended Rights to Purchase Policy - A Review

January 23, 2013

Preview Citation

Format: Chicago

Blackout Periods in GRA Arrangements and the Extended Rights to Purchase Policy - A Review , (USA: International Monetary Fund, 0) accessed November 8, 2024

Summary

This paper reviews the IMF’s extended rights to purchase (ERP) policy. Established in 2009, the ERP policy extends the continuity of purchase rights during temporary interruptions of access to previously accumulated, but undrawn, balances which occur during periods where data on relevant periodic performance criteria (PCs) is not yet available. This policy specifically provides for access to accumulated but undrawn purchase rights under SBAs and arrangements under the EFF (―extended arrangements‖). While enhancing the continuity of a member’s purchase rights, the ERP policy also provides several safeguards aimed at reducing the risk that a member might draw on Fund resources when its Fund-supported program goes off track.

Subject: Access to Fund general resources, Executive Board decisions, Extended arrangement purchases, Fund policies, General Resources Account, Lapse of time approval

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