## Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options

_Policy Papers, February 6, 2009_

## Source details

**Canonical URL:** [Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options](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)

## Other formats

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## Bibliographic details
- Published: February 6, 2009
- Series: Policy Papers

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### Summary and purpose
- 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.

### Key analytical findings about the Fund’s lending role
- The Fund’s important lending role in crisis prevention and resolution is buttressed by three unique characteristics:
  - (i) its ability as a nonatomistic lender to provide large-scale financing and reduce the likelihood of a run by private creditors;
  - (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;
  - (iii) its de facto preferred creditor status, which allows it to provide crisis financing when private creditors may be reluctant to lend.

### Subjects and thematic coverage
- Contingent credit lines
- Crisis prevention
- Economic models
- Emerging markets
- Fund facilities
- General Resources Account
- Lending commitments by Fund
- Use of Fund resources

### Publication and access details
- 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, (USA: International Monetary Fund, 0) accessed 9/18/2026*

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## Content in this bundle

- **Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options; February 6, 2009**
  - [Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options; February 6, 2009 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2009/_020609a.pdf.md){rel="alternate" type="text/markdown"}
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_Source: 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_