Access to IMF Resources in Capital Account Crisis Programs
|Access||Phasing of Purchases|
(As percent of total access)
Length of original arrangement (in months) in parentheses.
Calculated using the average U.S. dollar/SDR rate for the month of approval of the arrangements.
Since a waiver for end-December 1994 was approved at the same time, an additional 18 percent of quota, corresponding to undrawn purchases under the third year of the 1992 EFF, were made available immediately (in addition to the 50 percent shown in the table).
At least part of the funds were made available through the SRF. In the case of Korea, the original arrangement preceded the creation of the SRF by two weeks; however, following the adoption of the SRF, the text of the SBA was amended to specify that the part of the financing during the period December 18, 1997-December 18, 1998 would be available through the SRF.
Under the arrangement, the Brazilian authorities could request, under certain circumstances and subject to completion of Board reviews, that purchases under the SRF be brought forward.