Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument
January 28, 2014
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This review of the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Rapid Financing Instrument (RFI) focuses on four key issues: (i) the demand for the FCL and PLL in the context of the broader role of the Fund’s lending (including precautionary) instruments in the global financial safety net (GFSN); (ii) the qualification/conditionality framework for the FCL and the PLL; (iii) concerns about repeated usage of FCL arrangements by the same members and consideration of ways to further improve the transparency in the discussion of access/exit in the underlying staff documents; and (iv) the lack of demand for the RFI.
Subject: Article IV consultations, Conditionality, Financial safety nets, Flexible Credit Line, Forward commitment capacity, Fund role, Precautionary and Liquidity Line, Press releases, Rapid Financing Instrument
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Policy Papers
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