Front Matter Page
INTERNATIONAL MONETARY FUND
Update on the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries
Prepared by the Finance Department
(In consultation with the Legal and Policy Development and Review Departments)
Approved by Michael G. Kuhn
April 11, 2008
Contents
I. Introduction
II. Financing of PRGF-ESF Operations
A. Loan Resources
B. PRGF Subsidy Resources
C. ESF Subsidy Contributions
D. Medium-Term Financing Framework
III. Financing of HIPC and MDRI Debt Relief
A. Decision and Pre-Decision Point HIPCs
B. Remaining Protracted Arrears Cases
IV. Subsidization of Emergency Assistance
A. Current Status and Projected Subsidy Needs
B. Resource Mobilization Efforts
V. Proposed Decision
Text Tables
1. PRGF-ESF Trust—Loan Resources
2. PRGF Subsidy Requirements and Availability.
3. PRGF-HIPC Trust—Pending Contributions
4. ESF Subsidy Contributions
5. Implementation of the HIPC Initiative
6. Debt Relief Following Implementation of the MDRI
7. Financing of Debt Relief to the Remaining HIPCs
8. Subsidy Contributions for Emergency Assistance
9. List of Countries that Have Benefited from Subsidization of Emergency Assistance
10. Subsidy Resources and Projected Needs for Existing Emergency Assistance
11. Summary of Bilateral Contributions to the PRGF-ESF and PRGF-HIPC Trusts
12. PRGF-ESF Trust—Subsidy Agreements
13. PRGF-ESF Trust—Loans Agreements
14. Commitments to Finance the Cost of IMF’s Debt Relief to Liberia
15. Information on Pending Bilateral Contributions to the PRGF-HIPC Trust
Figures
1. New PRGF Commitments
2. Financial Structure of the Fund’s Concessional Operations
Box
1. The PRGF-ESF Trust Reserve Account—Purpose and Funding