IMF to temporarily raise borrowing limits to aid vulnerable countries

[yota691]

1 minute read March 7, 202310:11 AM EST Last Updated a day ago

IMF to temporarily raise borrowing limits to aid vulnerable countries

Reuters

International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas

WASHINGTON, March 7 (Reuters) - The International Monetary Fund says its executive board has agreed to temporarily increase the limits on member countries' annual and cumulative access to IMF loan resources to help them cope with a particularly challenging and uncertain environment.

In an announcement late on Monday, the Fund said its cumulative lending limits were increased to 600% of a country's quota, or shareholding in the fund, from a previous limit of 435%. The 12-month borrowing limit was raised to 200% of quota from 145%.

 

These changes will provide member countries - "particularly emerging markets and developing economies — that face increased financing pressures and vulnerabilities" access to more Fund financial support, the IMF said in a statement.

The Fund, which has about $1 trillion in total lending resources, said the executive board also discussed possible changes in access limits under the Poverty Reduction and Growth Trust, its concessional lending arm for low-income countries.

 

The IMF added it would review PRGT access limits once sufficient additional resources had been pledged to the fund by wealthier member countries. Those limits were last raised by 45% in 2021.

[Officiallytook]

Just like Iraq lol.... I'm on my mobile so dunno if that's the case, but that has got to be the longest image I've ever seen 🤣

[cutter73]

2 hours ago, Officiallytook said:

Just like Iraq lol.... I'm on my mobile so dunno if that's the case, but that has got to be the longest image I've ever seen 🤣

 @Officiallytook   I'm currently using my works computers and it is as long image 🤣

[3n1]

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