2023 Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund

No 2023/020, IMF Policy Papers from International Monetary Fund

Abstract: This Handbook provides guidance to staff on the IMF’s concessional financial facilities and non-financial instruments for low-income countries (LICs), defined here as all countries eligible to obtain concessional financing from the Fund. It updates the previous version of the Handbook that was published in December 2017 (IMF, 2017e) by incorporating modifications resulting from the 2018–19 Review of Facilities for Low-Income Countries and Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries (IMF, 2019a, b), approved by the Board in May 2019; the reforms introduced in 2021 on the basis of the Board paper Fund Concessional Financial Support for Low-Income Countries—Responding to the Pandemic (IMF, 2021a), approved in July 2021; and a number of other recent Board papers. Designed as a comprehensive reference tool for program work on LICs, the Handbook also refers, in summary form, to a range of relevant policies that apply more generally to IMF members. As with all guidance notes, the relevant IMF Executive Board decisions including the terms of the various LIC Trust Instruments that have been adopted by the Board, remain the primary legal authority on the matters covered in the Handbook.

Keywords: Low income countries; IMF Concessional Lending Facilities; Extended Credit Facility; Policy Support Instrument; Rapid Credit Facility; Standby Credit Facility; Poverty Reduction and Growth Trust; SCF arrangement; ECF arrangement; financing request; IMF facility; financial support; Balance of payments need; Debt sustainability; Poverty reduction strategy; Arrears; Debt sustainability analysis; Global (search for similar items in EconPapers)
Pages: 190
Date: 2023-04-21
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