Review of Facilities for Low-Income Countries - Proposals for Implementation

Volume/Issue: Volume 2013 Issue 021

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Business and Economics , Political Science , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Policy - Social Services and Welfare , PP , ECF arrangement , SCF arrangement , PRGT instrument , subsidy resource , member country , PSI request , PRGT resource , PRGT graduation framework , PRGT arrangement , PRGT trust , PSI review , Balance of payments need , Debt sustainability , Credit , Poverty reduction strategy , Structural reforms , Global

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Summary

Based on the Executive Board’s guidance during the first stage of the Review of Low Income Countries (LIC) Facilities, this paper suggests a number of refinements to the facilities and instruments that are consistent with the self-sustainability of the Poverty Reduction and Growth Trust (PRGT). The proposals seek to improve the tailoring and flexibility of Fund support. Taken together with those advanced in the parallel paper on PRGT eligibility, they are projected to keep the average annual demand for PRGT resources within a range consistent with the Board’s approved strategy to make the PRGT self-sustaining over the period 2013–35. The proposals are as follows.