proposed for entry or graduation at this time.
Eight countries meet the income or the marketaccesscriterion for graduation from PRGT eligibility, but none is proposed for graduation at this time given their serious short-term vulnerabilities, which are exacerbated by the current elevated risks in the global economy:
Armenia and Georgia meet the graduation income criterion, but the two countries are not proposed for graduation given that they face serious short-term vulnerabilities (including large external imbalances in both and high debt in Armenia
1. This paper reviews the PRGT-eligibility entry and graduation criteria established in January 2010 and examines, based on the application of such criteria, whether changes to the PRGT-eligibility list are warranted at this time. 2 In January 2010, at the time of the approval and the first application of the PRGT-eligibility framework, Albania, Angola, and Azerbaijan graduated on the basis of the income criterion, while India, Sri Lanka, and Pakistan graduated on the basis of the marketaccesscriterion. The Executive Board expressed an
This paper proposes to maintain the Poverty Reduction and Growth Trust (PRGT)-eligibility criteria established in early 2010 and considers, based on the application of such criteria, whether updates to the eligibility list are warranted at this time. The premise remains that access to the Fund’s scarce concessional resources should be preserved for members with low income and related vulnerabilities, while keeping PRGT eligibility closely aligned with International Development Association (IDA) practices. Based on the application of the PRGT-eligibility framework, no countries are proposed for entry or graduation at this time.
International Monetary Fund. Middle East and Central Asia Dept.
criteria. However, they are of the view that Morocco continues to perform strongly under the external position and marketaccesscriterion.
The authorities will continue to treat the PLL as precautionary. They will assess the need for further recourse to Fund financial support under the PLL or other arrangement as well as the size of access prior to the expiration of this arrangement next July. This assessment will be conducted in close consultation with the Fund, in light of developments in the exogenous risks facing Morocco and progress in further strengthening the
This paper proposes a framework for updating the PRGT eligibility list, based on transparent criteria and a regular review process, including policies for phasing in changes in eligibility. The premise is that access to scarce resources for concessional Fund financing should be preserved for members with a low level of income and related economic and financial vulnerabilities. From this perspective, there are several potential anomalies in the current eligibility list, which has been established primarily on the basis of IDA eligibility, and was last reviewed in 2003.