## IMF Concludes Steps to Maintain its Lending Capacity _IMF News, January 8, 2021_ ## Source details **Canonical URL:** [IMF Concludes Steps to Maintain its Lending Capacity](https://www.imf.org/en/news/articles/2021/01/08/pr214-imf-concludes-steps-to-maintain-its-lending-capacity) ## Other formats - [Markdown version](/en/news/articles/2021/01/08/pr214-imf-concludes-steps-to-maintain-its-lending-capacity/index.md) - [Structured JSON version](/en/news/articles/2021/01/08/pr214-imf-concludes-steps-to-maintain-its-lending-capacity/index.json) - [Bundle manifest](/en/news/articles/2021/01/08/pr214-imf-concludes-steps-to-maintain-its-lending-capacity/bundle-manifest.json) ## Bibliographic details - Published: January 8, 2021 --- ### Summary of outcome - The IMF has maintained its lending capacity at around US$1 trillion for the coming years. - This maintenance of capacity follows creditor support for a doubling of the IMF’s New Arrangements to Borrow (NAB) and a new round of new bilateral borrowing agreements (BBAs). - Context: increased demand for IMF resources due to the COVID-19 pandemic and ongoing heightened risks. ### New Arrangements to Borrow (NAB) — reforms and amounts - Executive Board approved a NAB reform in January 2020 that included: - a doubling of the size of the NAB, and - setting a new NAB period through 2025. - Reform took effect as targeted on January 1, 2021, after creditors provided the necessary consents. - Post-reform status: - 38 NAB participants contribute an aggregate amount of SDR 361 billion (USD 521 billion). - Table 1 reports "Current Participants 360.80" (SDR billion) with detailed amounts by participant (examples shown in source: Australia 4.44; Austria 3.64; China 31.72; Japan 67.02; United States 56.40; Prospective Participants 3.60; Greece 1.68; Ireland 1.92). ### 2020 Bilateral Borrowing Agreements (BBAs) — framework and amounts - Executive Board approved on March 30, 2020, a framework for a new round of bilateral borrowing to succeed agreements in place through end-2020. - A new set of agreements (2020 BBAs) replaced the 2016 BBAs, which expired at end-2020. - New bilateral borrowing agreements with 42 creditors have become effective for a total of SDR 138 billion (USD 195 billion). - The 2020 BBAs have an initial term of three years through end-2023 and may be extended for one further year. - Table 2 lists amounts by creditor and currency (examples shown in source: Algeria USD 2.15 / SDR 1.99; China 21.22; Germany 17.88; Italy 10.12 / 25.85; Mexico 4.31; Switzerland CHF 3.66; Turkey 3.95). ### Key statistics and figures (preserved exactly as in source) - Lending capacity: around US$1 trillion - NAB aggregate (text): SDR 361 billion (USD 521 billion) - NAB aggregate (table): 360.80 (SDR billion) - Number of NAB participants contributing post-reform: 38 - 2020 BBAs total: SDR 138 billion (USD 195 billion) - Number of creditors in 2020 BBAs: 42 - NAB new period through: 2025 - NAB reform effective date: January 1, 2021 - Executive Board approval of 2020 BBAs framework: March 30, 2020 - 2020 BBAs initial term: three years through end-2023 (may be extended for one further year) - Note: [1] Updated as of September 24, 2021. ### Operational notes and data access - Information on NAB credit amounts and bilateral borrowing agreements is available at respective country pages and through the IMF Financial Data Query Tool at the IMF website. - The latest amounts will be reflected in the next reporting period. *Press Release No. 21/4 — IMF Communications Department; January 8, 2021.* --- ## Content in this bundle - **A4_IMF_BorrowingAgreement_Japan.pdf** - [A4_IMF_BorrowingAgreement_Japan.pdf (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-com-version-japan-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [A4_IMF_BorrowingAgreement_Japan.pdf (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-com-version-japan-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **A4_IMF_BorrowingAgreement_Lithuania.pdf** - [A4_IMF_BorrowingAgreement_Lithuania.pdf (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-com-version-lithuania-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [A4_IMF_BorrowingAgreement_Lithuania.pdf (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-com-version-lithuania-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-algeria-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-algeria-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-australia-2020-borrowing-agreements** - [pr214-signed-australia-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-australia-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-australia-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-australia-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Pr214 Signed Austria 2020 Borrowing Agreements** - [Pr214 Signed Austria 2020 Borrowing Agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-austria-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Pr214 Signed Austria 2020 Borrowing Agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-austria-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Document2** - [Microsoft Word - Document2 (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-belgium-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Document2 (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-belgium-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Scanned Document** - [Scanned Document (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-brazil-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Scanned Document (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-brazil-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-canada-2020-borrowing-agreements** - [pr214-signed-canada-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-canada-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-canada-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-canada-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-chile-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-chile-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-china-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-china-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-czech-republic-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-czech-republic-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word** - [Microsoft Word (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-denmark-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-denmark-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-estonia-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-estonia-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-finland-2020-borrowing-agreements** - [pr214-signed-finland-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-finland-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-finland-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-finland-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-france-2020-borrowing-agreements-eng.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-france-2020-borrowing-agreements-eng.pdf){rel="external" type="application/pdf"} - **Loan Agreement between the Deutsche Bundesbank and the International Monetary Fund** - [Loan Agreement between the Deutsche Bundesbank and the International Monetary Fund (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-germany-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Loan Agreement between the Deutsche Bundesbank and the International Monetary Fund (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-germany-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Pr214 Signed India 2020 Borrowing Agreements** - [Pr214 Signed India 2020 Borrowing Agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-india-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Pr214 Signed India 2020 Borrowing Agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-india-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-italy-2020-borrowing-agreements** - [pr214-signed-italy-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-italy-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-italy-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-italy-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word** - [Microsoft Word (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-korea-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-korea-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Memo to MGT** - [Microsoft Word - Memo to MGT (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-luxembourg-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Memo to MGT (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-luxembourg-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-mexico-2020-borrowing-agreements** - [pr214-signed-mexico-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-mexico-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-mexico-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-mexico-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **A4_IMF_BorrowingAgreement_Template.pdf** - [A4_IMF_BorrowingAgreement_Template.pdf (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-netherlands-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [A4_IMF_BorrowingAgreement_Template.pdf (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-netherlands-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Document2** - [Microsoft Word - Document2 (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-new-zealand-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Document2 (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-new-zealand-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-norway-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-norway-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Document2** - [Microsoft Word - Document2 (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-poland-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Document2 (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-poland-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR** - [Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-russia-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-russia-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-saudi-arabia-2020-borrowing-agreements** - [pr214-signed-saudi-arabia-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-saudi-arabia-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-saudi-arabia-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-saudi-arabia-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **pr214-signed-slovak-republic-2020-borrowing-agreements** - [pr214-signed-slovak-republic-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-slovak-republic-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-slovak-republic-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-slovak-republic-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR** - [Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-slovenia-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-slovenia-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Note Purchase Agreement between the South African Reserve Bank and the International Monetary Fund** - [Note Purchase Agreement between the South African Reserve Bank and the International Monetary Fund (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-south-africa-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Note Purchase Agreement between the South African Reserve Bank and the International Monetary Fund (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-south-africa-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Memo** - [Memo (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-spain-2020-borrowing-agreements-eng.pdf.md){rel="alternate" type="text/markdown"} - [Memo (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-spain-2020-borrowing-agreements-eng.pdf){rel="external" type="application/pdf"} - **pr214-signed-sweden-2020-borrowing-agreements** - [pr214-signed-sweden-2020-borrowing-agreements (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-sweden-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [pr214-signed-sweden-2020-borrowing-agreements (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-sweden-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Loan Agreement between the Swiss National Bank and the International Monetary Fund** - [Loan Agreement between the Swiss National Bank and the International Monetary Fund (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-switzerland-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Loan Agreement between the Swiss National Bank and the International Monetary Fund (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-switzerland-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR** - [Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-turkey-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word - Memo to MGT - MD Signature for BBAs - LT-PE-RU-SI-TR (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-turkey-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} - **Microsoft Word** - [Microsoft Word (Markdown version)](/-/media/files/news/press-release/2021/pr214/pr214-signed-united-kingdom-2020-borrowing-agreements.pdf.md){rel="alternate" type="text/markdown"} - [Microsoft Word (PDF)](/-/media/files/news/press-release/2021/pr214/pr214-signed-united-kingdom-2020-borrowing-agreements.pdf){rel="external" type="application/pdf"} --- ## References - [People's Republic of China and the IMF](http://www.imf.org/external/country/CHN/index.htm) - [IMF-World Bank Debt Sustainability Framework for Low-Income Countries -- A Factsheet](https://www.imf.org/en/about/factsheets/sheets/2023/imf-world-bank-debt-sustainability-framework-for-low-income-countries) - [Special Drawing Rights (SDRs) -- A Factsheet](https://www.imf.org/en/about/factsheets/sheets/2023/special-drawing-rights-sdr) - [Press Releases](https://www.imf.org/en/news/searchnews) - [PRESS CENTER](http://presscenter.imf.org/) - [resources and governance reform](https://www.imf.org/en/News/Articles/2019/10/18/pr19379-imf-membership-endorses-package-on-imf-resources-and-governance-reform) - [NAB reform](https://www.imf.org/en/Publications/Policy-Papers/Issues/2020/02/13/Proposed-Decisions-to-Modify-the-New-Arrangements-to-Borrow-and-to-Extend-the-Deadline-for-a-49048) - [a framework for a new round of bilateral borrowing](https://www.imf.org/en/News/Articles/2020/03/31/pr20123-imf-executive-board-approves-framework-for-new-bilateral-borrowing-agreements) - [Financial Data Query Tool](https://www.imf.org/external/np/fin/tad/query.aspx) - [https://www.imf.org/en/home](https://www.imf.org/en/home) _Source: https://www.imf.org/en/news/articles/2021/01/08/pr214-imf-concludes-steps-to-maintain-its-lending-capacity_