The new line will allow a country eligible to access this tool to have more resources to contend with and a repayment period of up to 20 years.
As much as he can say Domain, Argentina could receive about $1.3 billion from this new fund because it is among the eligible countries.
The Resilience and Sustainability Fund will start operating on May 1, and will provide, among other benefits, longer maturities and a grace period of 10 and a half years.
The board-approved initiative will also increase the positive impact of last year’s $650 billion SDR allocation by allowing the agency’s richest members to direct their emergency reserves to countries where the need is greatest.
As planned by the managing director of International Monetary Fund, Kristalina GeorgievaThe goal is to build credit of at least $45 billion.
This week, when it was known that the authority would meet to discuss the issue, sources said there was optimism that it would be approved.
Such is the case of Vimal Thakur, an economist with the organisation, who expressed that positivism prevailed over the new mechanism.
“The first cases will be considered by the end of the year.” The specialist who spoke on the topic with IMF authorities before maintaining contact with the press advanced.
“The fund is likely to start with around $30 billion in resources, and go up to about $50 billion, over the medium term,” Thakur explained.