## Collaboration Between Regional Financing Arrangements and the IMF

## Source details

**Canonical URL:** [Collaboration Between Regional Financing Arrangements and the IMF](https://www.imf.org/en/publications/policy-papers/issues/2017/07/31/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2017/07/31/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2017/07/31/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2017/07/31/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf/bundle-manifest.json)

## Bibliographic details
- Published: July 31, 2017

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### Background and context
- The Global Financial Safety Net (GFSN) has expanded considerably since 2008, including in the non-traditional elements of the safety net such as Regional Financing Arrangements (RFAs).
- The resulting multi-layered structure of the GFSN makes collaboration between its various elements more important than in the past.
- To date, the only operational guidance to facilitate collaboration has been limited to the high-level 2011 G20 Principles for Cooperation between the IMF and RFAs.

### Core findings
- Stronger collaboration between the Fund and RFAs would help increase the effective firepower of the GFSN and ensure a timely deployment of resources.
- The Fund’s experience in macroeconomic adjustment and its universal risk pooling would combine with the greater regional knowledge and country ownership brought by RFAs.
- Improved collaboration between the Fund and RFAs, including in co-financing, would significantly reduce the risk of contagion by encouraging countries to seek early assistance from the Fund.

### Proposals and modalities for collaboration
- The paper proposes modalities for collaboration across:
  - capacity development,
  - surveillance,
  - lending.
- It proposes some operational principles to help guide future co-lending between the Fund and various RFAs.
- The paper builds on several case studies and principles derived from them to propose an operational framework for future engagement.

### Purpose and intended next steps
- The paper is part of a broader set of proposals to fortify the GFSN (IMF, 2017b, c, d).
- It aims to start a more structured dialogue between the Fund and individual RFAs on the modalities of how best to work together.

### Publication metadata (as presented)
- Publication date: July 31, 2017
- Format note: Policy Papers
- The IMF eLibrary offers over 25,000 IMF publications in multiple formats.

*Collaboration Between Regional Financing Arrangements and the IMF (July 31, 2017).*

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## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2017/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2017/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2017/07/31/pp073117-collaboration-between-regional-financing-arrangements-and-the-imf_