IMF raises borrowing limits amid ‘challenging’ environment
Managing director calls on members to contribute more resources
The International Monetary Fund is temporarily raising the limits on borrowing from its main lending facility, as countries face slowing growth and high debt vulnerabilities.
On March 6, the IMF executive board approved an increase in the maximum annual borrowing from the general resources account (GRA) to 200% of a country’s IMF quota. The board also raised the cumulative borrowing limit to 600%.
Previously, the annual limit on GRA borrowing had been 145% and the cumulative limit 435% of
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