IMF extends higher loan caps for low-income countries
PRGT will be able to hand out bigger credits through end of 2024
The International Monetary Fund has extended a measure to allow larger loans to lower-income countries because of worsening financial conditions, it announced on December 15.
The IMF adopted rules in 2016 that capped loans to those countries from the two major fund accounts at 135% of their IMF quota annually. The measure applied to loans from the General Resources Account (GRA) and the Poverty Reduction and Growth Trust (PRGT). Cumulatively, member states’ loans could not normally exceed 435% of
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