Simplification of IMF lending. Why not just one flexible credit facility?
AbstractThis paper proposes updating and improving the IMF’s lending mechanism, by replacing all of its credit lines with a single financial facility. Under this single facility, costs would rise with the volume drawn down and the time elapsed. At the same time, arrangement and repayment periods would be more flexible. The result would be a less complicated financing mechanism, more readily adaptable to borrowers’ needs, stronger incentives to avoid excessive use of IMF resources and equitable treatment for all member countries.
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Bibliographic InfoPaper provided by Banco de Espa�a in its series Banco de Espa�a Occasional Papers with number 0806.
Length: 38 pages
Date of creation: Aug 2008
Date of revision:
credit lines; crisis resolution; financial facilities; IMF; official lending;
Find related papers by JEL classification:
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- F5 - International Economics - - International Relations and International Political Economy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-14 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Graham Bird, 2003. "Restructuring the IMF's Lending Facilities," The World Economy, Wiley Blackwell, vol. 26(2), pages 229-245, 02.
- Shirai, Sayuri, 2009.
[IMF Financing Systems-Based on the Cases of Iceland, Ukraine, Latvia, and H," MPRA Paper 14723, University Library of Munich, Germany.
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