Precautionary and Liquidity Line - Operational Guidance Note

This note provides operational guidance on the use of the Precautionary and Liquidity Line (PLL). It provides an overview of the instrument and outlines the processes and operational steps for implementing the relevant policies.
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Volume/Issue: Volume 2025 Issue 014
Publication date: April 2025
ISBN: 9798229009942
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Topics covered in this book

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Exports and Imports , Finance , Precautionary and Liquidity Line , PLL , Precautionary Toolkit , IMF , Guidance Notes , Balance of payments need , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Liquidity , Global

Summary

This note provides operational guidance on the use of the Precautionary and Liquidity Line (PLL). After an overview of the instrument explaining its specific nature, the operational issues are grouped into six areas: an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; guidance on determining qualification of a member; guidance on access, phasing, ex-post conditionality, review process; guidance on purchases; guidance on communication of expiration or cancellation; and guidance on interaction with other instruments. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails. It will be revised as needed, for example, following relevant policy reviews.