Streamlining Procedures for Board Consideration of The Fund’s Emergency Financing During Exceptional Circumstances Involving A Pandemic
Policy Papers, April 9, 2020
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- Streamlining Procedures for Board Consideration of The Fund’s Emergency Financing During Exceptional Circumstances Involving A Pandemic
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Bibliographic details
- Authors: International Monetary Fund
- Published: April 9, 2020
- Series: Policy Papers
Summary and context
- Purpose: Accelerate processing and approval of members’ requests for Fund resources during the COVID-19 pandemic by shortening the circulation period for Board documents.
- Scope of measures: Requests for purchases and/or disbursements under the Rapid Financing Instrument (RFI) and/or the Rapid Credit Facility (RCF); completion of reviews and requests for changes in access in existing arrangements; requests for assistance under the Catastrophe Containment and Relief Trust (CCRT); selected Article IV consultations necessary for use of Fund resources during a global pandemic.
- Administrative intent: Management will streamline internal procedures to accelerate program processing and reduce the burden on the Fund’s administrative capacity.
- External engagement: Management will seek the support of creditors to expedite the processing of financial transactions under COVID-19 emergency financing.
Proposed procedural changes (findings and measures)
- Shorten the circulation period for Board documents to expedite:
- Approval of requests for purchases and/or disbursements under the Rapid Financing Instrument and/or the Rapid Credit Facility.
- Completion of reviews and requests for changes in access in existing arrangements.
- Requests for assistance under the Catastrophe Containment and Relief Trust (CCRT).
- Extend the use of the shortened circulation period to selected Article IV consultations that are necessary for members’ use of Fund resources during a global pandemic.
Operational and administrative actions
- Management to streamline internal procedures to:
- Accelerate program processing.
- Reduce burden on the Fund’s administrative capacity during the pandemic.
- Management to engage creditors to:
- Expedite processing of financial transactions related to COVID-19 emergency financing.
Keywords and thematic focus
- Catastrophe Containment and Relief Trust
- CCRT
- COVID-19
- emergency financing
- pandemic
- Rapid Credit Facility
- Rapid Financing Instrument
- RCF
- RFI
Key statistics and publication identifiers
- Date: April 9, 2020
- Pages: 10
- Policy Paper No.: 20/019
- Stock No.: PPEA2020019
- ISBN: 9781513540177
- ISSN: 2663-3493
International Monetary Fund — Streamlining Procedures for Board Consideration of The Fund’s Emergency Financing During Exceptional Circumstances Involving A Pandemic
Content in this bundle
- Policy Paper