Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters—Transformation of the Post-Catastrophe Debt Relief (PCDR) Trust into the Catastrophe Containment and Relief (CCR) Trust and Liquidation of the MDRI-I Trust

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

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ARTICLE V, SECTION 2(b)
Technical and Financial Services
Financial Services

PROPOSAL TO ENHANCE FUND SUPPORT FOR LOW-INCOME COUNTRIES HIT BY PUBLIC HEALTH DISASTERS— TRANSFORMATION OF THE POST-CATASTROPHE DEBT RELIEF (PCDR) TRUST INTO THE CATASTROPHE CONTAINMENT AND RELIEF (CCR) TRUST AND LIQUIDATION OF THE MDRI-I TRUST

Part I - Transformation of the PCDR Trust

  • 1. The name of the Trust established pursuant to Decision No. 14649-(10/64), adopted June 25, 2010, shall be changed to the Catastrophe Containment and Relief (CCR) Trust. Accordingly, Decision No. 14649-(10/64) and the title of the Attachment to that Decision shall be amended by replacing references to the “Post-Catastrophe Debt Relief Trust” (“PCDR Trust”) with “Catastrophe Containment and Relief Trust” (“CCR Trust”).

  • 2. The Instrument to Establish the CCR Trust (“CCR Trust Instrument”), annexed to Decision No. 14649-(10/64), shall be amended to read as set forth in Attachment A to this decision.1

  • 3. The terms and conditions for the administration of the PCDR Trust Umbrella Account set forth in Attachment A to Decision No. 14650-(10/64) PCDR Umbrella Account, adopted June 25, 2010 shall be amended to read as set forth in Attachment B to this decision.2

  • 4. Except as otherwise specifically provided or where the context otherwise requires, references in other Fund decisions, instruments, agreements or documents to the Post-Catastrophe Debt Relief Trust and Post-Catastrophe Debt Relief Trust Instrument shall be understood to be, respectively, references to the “Catastrophe Containment and Relief Trust” (“CCR Trust”) and “Catastrophe Containment and Relief Trust Instrument.”

  • 5. The review of the PCDR Trust set forth in paragraph 1 of Decision No. 14649-(10/64), adopted June 25, 2010 is no longer required. It is expected that the Fund will review the financing and operations of the CCR Trust every five years or earlier if needed.

Part II - Liquidation of the MDRI-I Trust and Transfer of the Remaining Balances to the CCR Trust

3

Decision No. 15708-(15/12),

February 4, 2015

1 Ed. Note: See p. 284.

2 Ed. Note: See p. 301.

3 Ed. Note: See p. 279.

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