## Temporary Modifications to The Fund’s Annual and Cumulative Access Limits

_Policy Papers, March 10, 2023_

## Source details

**Canonical URL:** [Temporary Modifications to The Fund’s Annual and Cumulative Access Limits](https://www.imf.org/en/publications/policy-papers/issues/2023/03/10/temporary-modifications-to-the-funds-annual-and-cumulative-access-limits-530788)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2023/03/10/temporary-modifications-to-the-funds-annual-and-cumulative-access-limits-530788/index.md)
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## Bibliographic details
- Published: March 10, 2023
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400236174.007

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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).
- 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.

### GRA access limit modifications
- 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.

### PRGT access limits
- 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.

### Expected impact and risks
- The impact on GRA resources is expected to be manageable.
- Risks to the Fund from the proposed changes are expected to be manageable.

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## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2023/english/ppea2023005.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2023/english/ppea2023005.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2023/03/10/temporary-modifications-to-the-funds-annual-and-cumulative-access-limits-530788_