{
  "title": "Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options",
  "publication": "Policy Papers, February 6, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/review-of-fund-facilities-analytical-basis-for-fund-lending-and-reform-options-pp4322",
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  "summary": "In the context of the ongoing review of Fund facilities, this paper examines the analytical basis for Fund lending in emerging market countries and provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit.",
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      "heading": "Summary and purpose",
      "content": "- Examines the analytical basis for Fund lending in emerging market countries.\n- Provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit.\n- Situates the paper within the ongoing review of Fund facilities."
    },
    {
      "heading": "Key analytical findings about the Fund’s lending role",
      "content": "- The Fund’s important lending role in crisis prevention and resolution is buttressed by three unique characteristics:\n  - (i) its ability as a nonatomistic lender to provide large-scale financing and reduce the likelihood of a run by private creditors;\n  - (ii) its ability as a cooperative institution with near-universal membership to agree conditionality with members, thus providing national authorities with a policy commitment tool to underpin confidence and catalyze private lending;\n  - (iii) its de facto preferred creditor status, which allows it to provide crisis financing when private creditors may be reluctant to lend."
    },
    {
      "heading": "Subjects and thematic coverage",
      "content": "- Contingent credit lines\n- Crisis prevention\n- Economic models\n- Emerging markets\n- Fund facilities\n- General Resources Account\n- Lending commitments by Fund\n- Use of Fund resources"
    },
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      "heading": "Publication and access details",
      "content": "- Publication date: February 6, 2009\n- Format reference shown: Chicago\n- eLibrary note: \"Our eLibrary offers over 25,000 IMF publications in multiple formats.\"\n\nReview of Fund Facilities-Analytical Basis for Fund Lending and Reform Options, (USA: International Monetary Fund, 0) accessed 9/18/2026\n\n---\n\n Content in this bundle\n\n- Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options; February 6, 2009\n  - Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options; February 6, 2009 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options; February 6, 2009 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/review-of-fund-facilities-analytical-basis-for-fund-lending-and-reform-options-pp4322"
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    "Published: February 6, 2009",
    "Series: Policy Papers",
    "Examines the analytical basis for Fund lending in emerging market countries.",
    "Provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit.",
    "Situates the paper within the ongoing review of Fund facilities.",
    "The Fund’s important lending role in crisis prevention and resolution is buttressed by three unique characteristics:",
    "Contingent credit lines",
    "Crisis prevention",
    "Economic models",
    "Emerging markets",
    "Fund facilities",
    "General Resources Account",
    "Lending commitments by Fund",
    "Use of Fund resources",
    "Publication date: February 6, 2009",
    "Format reference shown: Chicago",
    "eLibrary note: \"Our eLibrary offers over 25,000 IMF publications in multiple formats.\"",
    "**Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options; February 6, 2009**"
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