2023 Handbook of IMF Facilities for Low-Income Countries
Policy Papers, April 21, 2023
Source details
- Canonical URL
- 2023 Handbook of IMF Facilities for Low-Income Countries
Other formats
Bibliographic details
- Published: April 21, 2023
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400242427.007
Purpose and scope
- Provides guidance to staff on the IMF’s concessional financial facilities and non-financial instruments for low-income countries (LICs), defined here as all countries eligible to obtain concessional financing from the Fund.
- Designed as a comprehensive reference tool for program work on LICs.
- Also refers, in summary form, to a range of relevant policies that apply more generally to IMF members.
- Notes that relevant IMF Executive Board decisions, including the terms of the various LIC Trust Instruments adopted by the Board, remain the primary legal authority on the matters covered in the Handbook.
Updates and provenance
- Updates the December 2017 Handbook (IMF, 2017e) by incorporating modifications resulting from:
- the 2018–19 Review of Facilities for Low-Income Countries and Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries (IMF, 2019a, b), approved by the Board in May 2019;
- the reforms introduced in 2021 based on the Board paper Fund Concessional Financial Support for Low-Income Countries—Responding to the Pandemic (IMF, 2021a), approved in July 2021;
- a number of other recent Board papers.
Key components and instruments covered
- Concessional financial facilities for LICs.
- Non-financial instruments relevant to LIC program work.
- Summary references to broader IMF policies applicable to members.
- Keywords indicating scope and instruments:
- Arrears, Balance of payments need, Debt sustainability, Debt sustainability analysis, ECF arrangement, Extended Credit Facility, financial support, financing request, Global, IMF Concessional Lending Facilities, IMF facility, Low income countries, Policy Support Instrument, Poverty Reduction and Growth Trust, Poverty reduction strategy, Rapid Credit Facility, SCF arrangement, Standby Credit Facility.
Intended users and legal authority
- Primary audience: IMF staff engaged in program work on LICs.
- Emphasizes that guidance notes supplement but do not replace Executive Board decisions and the terms of LIC Trust Instruments, which remain the primary legal authority.
Subjects
- Balance of payments
- External debt
- Monetary policy
- Political economy
- Poverty
International Monetary Fund. 2023 Handbook of IMF Facilities for Low-Income Countries, Policy Paper No. 2023/020. DOI: https://doi.org/10.5089/9798400242427.007
Content in this bundle
- Policy Paper