IMF Country Reports: Ex-Post Assessments

Ex Post Evaluations of Exceptional Access Arrangements Guidance Note
August 8, 2005

Report on Access to Fund Resources During 2003
February 5, 2004

Public Information Notice: IMF Concludes Discussion on Access Policy in the Context of Capital Account Crises; and Review of Access Policies in the Credit Tranches and the Extended Fund Facility
March 21, 2003

Access Policy in Capital Account Crises—Modifications to the Supplemental Reserve Facility (SRF) and Follow-up Issues Related to Exceptional Access Policy
January 14, 2003

Review of Access Policy Under the Credit Tranches and the Extended Fund Facility
January 14, 2003

Public Information Notice: Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility
September 28, 2001

Review of Access Policy in the Credit Tranches and under the Extended Fund Facility
August 8, 2001

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



Access Policy in Capital Account Crises

Prepared by the Policy Development and Review and Treasurer's Departments (In Consultation with other Departments)

July 29, 2002

Use the free Adobe Acrobat Reader to view the full text (369kb PDF file).

Contents


I. Introduction

II. Summary of Experience in Past Exceptional Access Cases

III. Objectives

IV. Circumstances For Access Above the Limits
      A. The Current Limits
      B. Criteria for Exceptional Access

V. The Appropriate Scale of Access
        Quotas and alternative metrics

VI. Elements to Constrain Exceptional Access
      A. Procedures for Exceptional Access Decisions
               Supermajority approval of exceptional access
      B. An Exceptional Access Limit or Norm
      C. Prudential Considerations
               Strengthened analysis of Fund exposure and risks
               A maximum exposure limit

VII. The Terms and Conditions of Exceptional Access

VIII. The Next Steps and Issues for Discussion

Boxes
1. Brief Summary of Policies on Access to Fund Resources
2. Sustainability Analysis
3. Alternative Metrics of Fund Access
4. Burden Sharing and Exposure Limits

Table
1. Exceptional Access in Fund Arrangements, 1995-2002

Annex I
The Prague Framework for Private Sector Involvement

Annex II
An Overview of Past Exceptional Access Programs
      A. The Amount of Fund Support in the Exceptional Access Cases
      B. Some Outcomes of Exceptional Access Programs
               The attainment of external viability
               Securing capital market financing
               Has exceptional access under Fund arrangements added to moral hazard?

Annex III
Sustainability Analysis of Past Exceptional Access Programs

Annex Figures
1. Fund Arrangements
2. Fund Commitments
3. Composition of Financing Packages in High Access Cases
4. Distribution of Adjustment
5. High Access Cases: Selected Indicators
6. High Access Cases: Selected Indicators
7. Market Access Indicator for Selected High Access Cases
8. Market Spread Before and After IMF Arrangement for Selected High Access Cases
9. Sensivity Analysis for External Debt-to-GDP Ratio