IMF reviews countries’ eligibility for concessional financing

The Executive Board of the International Monetary Fund (IMF) has reviewed the framework that determines which member countries are eligible to use its concessional financial resources under the Poverty Reduction and Growth Trust (PRGT).

The review was done February 17, 2012, an IMF statement March 5, 2012 said.

The framework, which was established in 2010 and will be reviewed every two years, according to the Fund, is intended to preserve access to the IMF’s concessional financing for members with a low level of income and related economic and financial vulnerabilities.

The PRGT-eligibility framework provides transparent criteria for IMF Executive Board decisions regarding entry onto and graduation from the list of countries that are eligible to use the IMF’s concessional resources.

The Board also reviewed the list of PRGT-eligible countries, the IMF said.

By Ekow Quandzie