## Eligibility to Use the Fund's Facilities for Concessional Financing, 2020

_Policy Papers, March 16, 2020_

## Source details

**Canonical URL:** [Eligibility to Use the Fund's Facilities for Concessional Financing, 2020](https://www.imf.org/en/publications/policy-papers/issues/2020/03/16/eligibility-to-use-the-fund-s-facilities-for-concessional-financing-2020-49267)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2020/03/16/eligibility-to-use-the-fund-s-facilities-for-concessional-financing-2020-49267/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2020/03/16/eligibility-to-use-the-fund-s-facilities-for-concessional-financing-2020-49267/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2020/03/16/eligibility-to-use-the-fund-s-facilities-for-concessional-financing-2020-49267/bundle-manifest.json)

## Bibliographic details
- Published: March 16, 2020
- Series: Policy Papers
- Volume: 2020
- Issue: 0
- Pages: 49
- DOI: https://doi.org/10.5089/9781513537047.007

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### Summary
- This paper concludes that the existing framework remains broadly appropriate.
- Proposes methodological refinements to improve the assessment of market access.
- Clarifies how serious short-term vulnerabilities are assessed.
- Proposes a modest extension of the transition period before graduation decisions become effective.
- Publication date: March 16, 2020.

### Key findings
- The existing PRGT eligibility framework is broadly appropriate.
- Identified need for methodological refinements to better assess market access.
- Clarification required on the assessment of serious short-term vulnerabilities.
- Recommendation to modestly extend the transition period before graduation decisions become effective.

### Methodological refinements (market access)
- Improve assessment of market access through refined methodology.
- Strengthen indicators and analytical approaches used to evaluate a country's ability to access international capital markets.

### Assessment of short-term vulnerabilities
- Clarify criteria and procedures for determining "serious short-term vulnerabilities."
- Ensure assessments capture risks relevant for eligibility to use concessional financing.

### Transition period before graduation
- Proposes a modest extension of the transition period before graduation decisions become effective.
- Aim: provide additional time for countries approaching graduation to adjust and mitigate risks.

### Subjects and keywords
- Subjects: Bonds, Debt sustainability, External debt, Financial institutions, Financial markets, International capital markets, Loans, National accounts, Personal income.
- Keywords: Bonds, Debt sustainability, director, eligibility criteria, Global, International capital markets, Loans, market, market access, Personal income, PP, PRGT eligibility, PRGT eligibility framework, PRGT lending, PRGT objective.

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## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2020/english/ppea2020016.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2020/english/ppea2020016.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2020/03/16/eligibility-to-use-the-fund-s-facilities-for-concessional-financing-2020-49267_