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International Monetary Fund

triggers; (ii) ease of access in terms of technical requirements; (iii) absence of conditionality; and (iv) the inclusion of a pass-through mechanism to producers and consumers. 1/ “The Report of the Panel,” WTO, WT/GC/62-G/AG/13, June 28, 2002. 2/ UNCTAD TD/B/50/11, September 30, 2003. A concessional CFF 24. For low-income members, even a purely temporary shock can inflict major and long-lasting damage, and force undue domestic adjustment . At the time of the inception of the CFF, exogenous shocks, especially to commodity prices, were viewed as having