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.
(Reporting by David Lawder
Editing by Mark Potter)
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.
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