The Resilience and Sustainability Trust (RST) provides affordable longer-term financing to help eligible IMF members address longer-term structural challenges, thereby progressing toward strengthening their prospective balance of payments stability. This paper takes stock of the initial experience with the RST—focusing on progress and challenges so far—and proposes fine-tuning RST design with a view to strengthening implementation of the Trust’s objectives. The paper also provides an assessment of the adequacy of the Trust’s resources and finds that increased near-term fundraising will be needed to meet strong demand. The Trust’s reserves remain adequate in the baseline and under a range of risk scenarios.
- Format
- Paper
- Frequency
- occasional
- ISBN
- 9798400281297
- ISSN
- 2663-3493
- Pages
- 72
- Published in
- United States of America
- Series
- Policy Paper No. 2024/031
- StockNumber
- PPEA2024031
Table of Contents
- PR24171 - IMF Executive Board Completed the Interim Review of the Resilience and Sustainability Trust and Review of Adequacy of Resources.pdf -1
- FOR IMMEDIATE RELEASE 2
- Executive Directors welcomed the Interim Review of the Resilience and Sustainability Trust (RST) and Review of Adequacy of Resources, which takes stock of the initial experience with RST implementation, proposes fine-tuning the RST design, and assesse... 2
- Directors positively noted the successful approval of 18 RSF arrangements so far, committing SDR 6.3 billion, and the 30-35 additional requests expected in the near term. They considered that the strong demand for RST financing demonstrated the useful... 2
- Directors underscored the importance of continued close collaboration—and progress in developing systematic approaches to collaboration—with development partners, including the World Bank and other MDBs, in formulating and evaluating Reform Measures (... 3
- Directors generally supported proposals to enhance the operational flexibility and clarity of the RSF. They concurred that the access norm would remain at 75 percent of quota, with higher access based on exceptionally high-quality reform packages. Whi... 3
- Directors agreed that the Trust's reserves are adequate to support its operational needs in the baseline and under a range of risk scenarios, while the interest rate cap for Group A countries remains appropriate. Directors emphasized the need for rein... 3
- Directors looked forward to the comprehensive review of the RST in FY2026. They called for a systematic and expansive evidence base, including through feedback from RSF-implementing authorities and mission chiefs, to support their deliberations. Areas... 3
