Eligibility to Use the Fund's Facilities for Concessional Financing, 2015
Policy Papers, June 24, 2015
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- Eligibility to Use the Fund's Facilities for Concessional Financing, 2015
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Bibliographic details
- Published: June 24, 2015
- Series: Policy Papers
Principles guiding the review
- Maintain a transparent, rules-based, and parsimonious framework—ensuring uniformity of treatment across members in similar situations while taking appropriate account of country-specific circumstances.
- Graduation policy seeks to maintain broad alignment with the World Bank’s IDA graduation practices.
- Ensure consistency with the principle of ensuring the self-sustainability of the PRGT’s lending capacity over time.
Summary conclusions
- The paper concludes that the existing framework remains broadly appropriate.
- Identified enhancements focus on data sources and sharper specification of vulnerability criteria.
Recommended enhancements and analytical refinements
- Make use of additional data sources, namely the IMF BEL database, in assessing that a country has durable and substantial market access, supplementing reliance on the World Bank’s IDS database that is produced with a significant lag.
- Sharpen the specification of circumstances under which the presence of serious short-term vulnerabilities would justify non-graduation of a country that meets the income graduation criterion.
- This sharpening would entail limiting the application of the serious short-term vulnerabilities criterion for countries that exceed the applicable income graduation threshold by 50 percent or more.
Publication metadata and subjects (as presented)
- Date: June 24, 2015
- Subjects: Access to capital markets; Concessional aid; Executive Board decisions; Fund facilities; Poverty Reduction and Growth Trust; Use of Fund resources
Eligibility to Use the Fund's Facilities for Concessional Financing, 2015