{
  "title": "Temporary Modifications to The Fund’s Annual and Cumulative Access Limits",
  "publication": "Policy Papers, March 10, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2023/03/10/temporary-modifications-to-the-funds-annual-and-cumulative-access-limits-530788",
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  "summary": "In light of current elevated uncertainty and challenges in the global economy, the IMF has temporarily increased the limits on access in the Fund’s General Resources Account (GRA) to 200 percent of a member’s quota annually and 600 percent of quota cumulatively (from 145 and 435 percent of quota pre",
  "sections": [
    {
      "heading": "Summary",
      "content": "- In light of current elevated uncertainty and challenges in the global economy, the IMF has temporarily increased the limits on access in the Fund’s General Resources Account (GRA).\n- New GRA access limits: 200 percent of a member’s quota annually and 600 percent of quota cumulatively (from 145 and 435 percent of quota previously, respectively, last set in 2016).\n- Duration: These changes will be in place for 12 months and, if circumstances warrant, the Executive Board may consider extending them further before their expiration.\n- PRGT: The paper proposes that the Executive Board reviews Poverty Reduction and Growth Trust (PRGT) access limits once sufficient subsidy resources have been pledged to the PRGT.\n- Assessment: The impact on GRA resources and risks to the Fund from the proposed changes are expected to be manageable."
    },
    {
      "heading": "GRA access limit modifications",
      "content": "- Annual access limit: increased to 200 percent of a member’s quota.\n- Cumulative access limit: increased to 600 percent of a member’s quota.\n- Previous limits (last set in 2016): annual limit 145 percent of quota; cumulative limit 435 percent of quota.\n- Effective period: 12 months, with potential Executive Board consideration for extension before expiration."
    },
    {
      "heading": "PRGT access limits",
      "content": "- Proposal: Executive Board to review PRGT access limits once sufficient subsidy resources have been pledged to the PRGT.\n- No specific numeric PRGT access limit changes are specified in the summary; action contingent on subsidy pledges."
    },
    {
      "heading": "Expected impact and risks",
      "content": "- The impact on GRA resources is expected to be manageable.\n- Risks to the Fund from the proposed changes are expected to be manageable.\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2023/03/10/temporary-modifications-to-the-funds-annual-and-cumulative-access-limits-530788"
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    "Published: March 10, 2023",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9798400236174.007",
    "In light of current elevated uncertainty and challenges in the global economy, the IMF has temporarily increased the limits on access in the Fund’s General Resources Account (GRA).",
    "New GRA access limits: 200 percent of a member’s quota annually and 600 percent of quota cumulatively (from 145 and 435 percent of quota previously, respectively, last set in 2016).",
    "Duration: These changes will be in place for 12 months and, if circumstances warrant, the Executive Board may consider extending them further before their expiration.",
    "PRGT: The paper proposes that the Executive Board reviews Poverty Reduction and Growth Trust (PRGT) access limits once sufficient subsidy resources have been pledged to the PRGT.",
    "Assessment: The impact on GRA resources and risks to the Fund from the proposed changes are expected to be manageable.",
    "Annual access limit: increased to 200 percent of a member’s quota.",
    "Cumulative access limit: increased to 600 percent of a member’s quota.",
    "Previous limits (last set in 2016): annual limit 145 percent of quota; cumulative limit 435 percent of quota.",
    "Effective period: 12 months, with potential Executive Board consideration for extension before expiration.",
    "Proposal: Executive Board to review PRGT access limits once sufficient subsidy resources have been pledged to the PRGT.",
    "No specific numeric PRGT access limit changes are specified in the summary; action contingent on subsidy pledges.",
    "The impact on GRA resources is expected to be manageable.",
    "Risks to the Fund from the proposed changes are expected to be manageable.",
    "**Policy Paper**"
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