Policy Safeguards For Countries Seeking Access To Fund Financial Support That Would Lead To High Levels Of Combined GRA-PRGT Exposure

Proposal for safeguards aligned with GRA exceptional access policy that will apply in cases where combined GRA and PRGT credit exposure exceeds GRA thresholds.

Volume/Issue: Volume 2020 Issue 039

Publication date: September 2020

ISBN: 9781513557274

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , PP , financing , PRGT resource , HCC Thresholds , financing request , policy safeguard , HCC threshold , Combined GRA-PRGT Exposure , PRGT-eligible country , Debt sustainability , Credit , Debt sustainability analysis , Poverty reduction strategy

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Summary

This paper proposes safeguards broadly aligned with the GRA exceptional access policy that will apply in cases where combined GRA and PRGT credit exposure exceeds the GRA thresholds. The new safeguards would help to mitigate financial risks to the PRGT and the GRA, respectively, that arise from a member having high levels of combined credit from these two sources of funding. The proposed policy builds on the current policies on safeguards to Fund resources (both the Fund’s resources in the GRA and under the PRGT as Trustee, respectively).