IMF expands lending rules around countries in arrears
Fund announces new approach to lending to countries in arrears with official creditors
The International Monetary Fund has adopted a new approach to lending to countries in arrears with official creditors, moving it away from Paris Club conventions.
Previously the IMF would not provide financing to any countries in arrears with official creditors, unless they were covered by a Paris Club agreement or if the creditor(s) consented to it.
A staff report suggests this approach was in danger of losing relevance given the rise of creditors outside the Paris Club – an informal group of
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