Background Paper: Review of Access Policy in the Credit Tranches and under the Extended Fund Faclity
August 9, 2001

Public Information Notice: IMF Concludes Discussions on Review of Access Policy
September 28, 2001

Review of Access Policy in the Credit Tranches and under the Extended Fund Facility
Prepared by the Policy Development and Review Department and the Treasurer's Department
August 8, 2001

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Contents

I. Introduction

II. The Criteria for Access in Individual Cases

    A. The Criteria
    B. The Record in Applying the Criteria
    C. The Fund's Catalytic Role and the Adequacy of Total Financing

III. The System of Access Limits

    A. The Purposes of the Access Limits
    B. The Case for an Explicit Access Norm
    C. Emergency Assistance and the CFF
    D. How Should Access Limits and Norms Develop in the Future?

IV. Proposed Access Limits and Norms

    A. Gross Financing Need and Liquidity
    B. Frequency of Access Reviews
    C. Proposed Access Limits
    D. Proposed Access Norm

V. Summary of Staff Proposals

VI. Proposed Decision

Tables

  1. Access under "Ordinary"Fund Arrangements by Year of Approval, 1994-2000
  2. Gross Financing Need of Past users, 1996-2003 (in SDR billions)
  3. Gross Financing Need of Past Users, 1996-2003 (in percent of 11th review quota)
  4. Access, Fund Credit and Liquidity under Alternative Access Scenarios

Boxes

1. The 1983 Guidelines on Access in Individual Cases
2. The Framework for Access Policy Under the Different Facilities

Figure

1. Annual Access under SBAs and EFFs