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International Monetary Fund
The temporary increase in access limits under IMF emergency financing instruments will expire on October 5, 2020, unless extended. Access limits under emergency instruments (the Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI)) were increased in April 2020 for a period of six months, from 50 to 100 percent of quota annually and from 100 to 150 percent of quota cumulatively. The increased limits are subject to review and can be extended before their expiration. It is proposed to extend the period of higher access limits for emergency financing for a period of six months, through April 6, 2021. Against a background of continued pandemic-related disruption, staff expects there could be significant demand for emergency lending in the October 2020–April 2021 period, including from countries with pending requests and from countries that received emergency support at levels less than the maximum amounts available. A six-month extension would give more time for countries to benefit from higher access limits under emergency financing.
International Monetary Fund
In direct response to the COVID-19 crisis the International Monetary Fund (IMF) Executive Board has adopted some immediate enhancements to its Catastrophe Containment and Relief Trust (CCRT) to enable the Fund to provide debt service relief for its poorest and most vulnerable members. The CCRT enables the IMF to deliver grants for debt relief benefiting eligible low-income countries in the wake of catastrophic natural disasters and major, fast-spreading public health emergencies.
International Monetary Fund. Strategy, Policy, &, Review Department, and International Monetary Fund. Finance Dept.
The Fund is facing strong demand for financing from low-income countries (LICs). Commodity price shocks and loose fiscal policies have contributed to rising debt levels and financing needs in many countries. Several developing states, especially smaller ones, are also increasingly vulnerable to large natural disasters. At the same time, many LICs less dependent on commodity exports have enjoyed robust growth in recent years, with more contained vulnerabilities.
International Monetary Fund

Abstract

The IMF's 2012 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2012, which covers the period from May 1, 2011, through April 30, 2012. The print version of the Report is available in eight languages (Arabic, Chinese, English, French, German, Japanese, Russian, and Spanish), along with a CD-ROM (available in English only) that includes the Report text and ancillary materials, including the Fund's Financial Statements for FY2012.

International Monetary Fund
The post-conflict economic stabilization in Liberia is now complete. Inflation pressure is easing owing to lower fuel and food prices, and there is a rebound in exports. Sound macroeconomic policies, strengthened institutions, and debt relief have stabilized the economy and have supported confidence-building. Fiscal policies have supported the stabilization. The scope for an active monetary policy remains limited owing to high levels of dollarization and the lack of monetary instruments. The government has coped with the adverse income and investment effects of the global financial crisis.
International Monetary Fund
The drop in demand and commodity prices in Liberia is adversely affecting investment and exports in some key sectors. The staff report examines Liberia’s second review under the Poverty Reduction and Growth Facility and request for Waiver and Modification of Performance Criteria. The global recession is slowing Liberia’s post-war economic recovery. There is limited room for countercyclical fiscal action owing to high debt levels while monetary policy is constrained by high dollarization. In the mining sector, investment continues, and iron ore exports are expected to resume with the global economic recovery.
International Monetary Fund
This paper assesses the adequacy of the Fund’s facilities and financing framework for low-income countries (LICs) and proposes reform options. It is part of a broader review of all Fund financial instruments and is timely given the pressure the current global financial crisis is putting on LICs. It builds on previous efforts to adapt the Fund’s toolkit to the evolving needs of its LIC members, including creation of the Policy Support Instrument (PSI) and the recent modification of the Exogenous Shocks Facility (ESF). This paper provides the basis for the first stage of the LIC-specific review, with a focus on: (i) gaps and overlaps in the facility architecture for LICs, (ii) design issues such as access, financing terms, and conditionality, and (iii) the concessional resource envelope and funding structure. Based on feedback from Executive Directors and further external consultation, more detailed reform proposals will be prepared in the second stage of the review. The Fund’s Facilities and Financing Framework for Low-Income Countries—Supplementary Information March 13, 2009
International Monetary Fund
This paper presents the staff report for the combined Liberia’s 2008 Article IV Consultation and the first review under the Three-Year Arrangement under the Poverty Reduction and Growth Facility. The international community is supporting the Liberian government’s efforts to reform the economy. Increases in international commodity prices have contributed to a significant acceleration in inflation in Liberia, where increases have largely been allowed to pass through to the domestic economy. Liberia has been particularly affected by increases in the price of rice, which accounts for 50 percent of the daily caloric intake of households.
International Monetary Fund
This paper provides the basis for the Executive Board’s midyear review of the Fund’s income position based on developments in the first half of FY 2008. Under Rule I-6(4) of the Fund’s Rules and Regulations, the Executive Board should consider whether the margin over the SDR interest rate used to calculate the rate of charge as determined at the beginning of the year should be changed in light of the actual income position for the first six months.
International Monetary Fund
The International Monetary and Finance Committee at its 2004 Annual Meetings called on the international community to provide assistance including “further debt relief” to low-income countries for achieving the Millennium Development Goals (MDGs). It reaffirmed the Fund’s “important role” in supporting lowincome countries and called on the Fund to consider “further debt relief and its financing.” More impetus for this request was provided by various recent proposals (summarized in Annex I). At their meeting in London in February, G7 Finance Ministers expressed their willingness to provide as much as 100 percent multilateral debt relief.