Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Next Review

Prepared by the Legal Department of the IMF
As updated as of February 29, 2016

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ARTICLE V, SECTION 3(a), (b), AND (c)
Use of Fund Resources

REVIEW OF THE FLEXIBLE CREDIT LINE, THE PRECAUTIONARY AND LIQUIDITY LINE, AND THE RAPID FINANCING INSTRUMENT—NEXT REVIEW

  • 1. It is expected that the experience with the use of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument will be considered no later than three years after May 21, 2014 with a view to assessing the need for a comprehensive review of each of these instruments, including a review of commitment fees.

  • 2. Notwithstanding Paragraph 1 above, the decision on Flexible Credit Line Arrangements, Decision No. 14283- (09/29), adopted March 24, 2009, as amended, and the decision on Precautionary and Liquidity Line Arrangements, Decision No. 15017-(11/112), adopted November 21, 2011, will be reviewed jointly by the Fund whenever aggregate outstanding credit and commitments under these two Decisions reach SDR 150 billion. (SM/14/113, 05/01/14)

Decision No. 15596-(14/46),

May 21, 2014

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