Extension of Temporary Increase in Normal Access Limits Under the General Resources Account

March 19, 2024

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Format: Chicago

Extension of Temporary Increase in Normal Access Limits Under the General Resources Account, (USA: International Monetary Fund, 2024) accessed September 27, 2024

Summary

The IMF extended the current temporarily higher General Resources Account (GRA) normal annual and cumulative access limits, 200 percent of quota and 600 percent of quota, respectively, until end-2024. Initially, access limits were temporarily increased for 12 months in March 2023. The extension reflects the still uncertain global economic environment. Importantly, it helps bridge the gap to the comprehensive review of access limits planned for the second half of 2024, which will review access limits in the context of the developments of the nominal value of access limits against relevant macroeconomic aggregates and the outcomes of the 16th General Review of Quotas (GRQ). The impact on GRA resources and risks to the Fund from the extension of higher access limits are expected to be manageable.

Subject: Monetary policy, Political economy

Keywords: External debt, Financial markets, Financial regulation and supervision, IMF policy, Lending, Monetary policy, Political economy, Use of Fund Resources

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2024/009
Stock No:

PPEA2024009
ISBN:

9798400270512
ISSN:

2663-3493

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