Temporary Modification to the Fund's Annual Access Limits

The Executive Board responded to members’ needs by increasing the access limits under the Fund’s emergency financing instruments by 50% of the quota.

Volume/Issue: Volume 2020 Issue 036

Publication date: July 2020

ISBN: 9781513550947

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , PP , emergency financing instrument , financial support , financing , RFI purchase , IMF's executive board , Gra credit , risk management framework , application of the NAAL , Emergency assistance , Credit , Balance of payments need , Global , COVID-19

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Summary

The COVID-19 pandemic has caused a uniquely severe synchronized shock across the global economy, in turn leading numerous member countries to request substantial financial assistance from the Fund. The Executive Board responded to members’ needs by increasing the access limits under the Fund’s emergency financing instruments by 50 percent of quota for a period of 6 months (until October 5, 2020), subject to a possible extension by the Executive Board.