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Modifying the Poverty Reduction and Growth Trust (PRGT) Cumulative Borrowing Limit
Author:
International Monetary Fund. Finance Dept.
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International Monetary Fund. Legal Dept.
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Series:
Policy Papers
Volume/Issue:
Volume 2018: Issue 008
Language:
English
Publication Date:
09 Feb 2018
DOI:
https://doi.org/10.5089/9781498307253.007
ISBN:
9781498307253
ISSN:
2663-3493
Pages:
5
Keywords:
PP; SDR; mobilization target; agreement; target of SDR; loan mobilization effort; PRGT loan agreement; loan mobilization outcome; Loans; Revenue mobilization
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An effort to mobilize SDR 11 billion in additional Poverty Reduction and Growth Trust (PRGT) loan resources is underway to sustain the Fund’s concessional lending operations over the medium term. SDR 9.4 billion in new loan resources have been secured to date and negotiations with remaining potential loan providers indicate that the target is likely to be exceeded by about SDR ½ to 1 billion. To accommodate the better-than-expected loan mobilization outcome, the PRGT’s cumulative borrowing limit of SDR 37 billion would need to be increased. PRGT creditors were consulted and supportive of a proposed increase in the borrowing limit, from SDR 37 billion to SDR 38 billion.
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Cover Policy Papers
Policy Papers
ISSN:
2663-3493
Publisher:
International Monetary Fund