Standby Credit

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Standby Credit

Funds that the IMF sets aside to lend to needy countries as the need arises with little notice. It should not be confused with a standby letter of credit.
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This sharp acceleration is due, in particular, to the repayment of US $ 500 million for the Qatari bond loan contracted in 2012 (April 2017); 271 MD under the deadline of SAMURAI 6 (August 2017); and three tranches related to the STAND-BY credit granted by the IMF in 2013 for respective amounts of 135 MD (April 2017), 200 MD (July 2017) and 206 MD (October 2017).
Recently, talks were held between IMF officials and government to replace a similar stand-by credit arrangement whose tenure ended early this year.
Summary: AMMAN - The International Monetary Fund has approved to provide Jordan with $385 million, which is the second installment of a stand-by credit line to the country, to help finance national projects.
Hungary, not part of the eurozone, has been in long-running talks with the International Monetary Fund and the EU about a stand-by credit line of around 15 billion euros ($19 billion).
The Tunisian government could be forced to ask the International Monetary Fund (IMF) to give it a stand-by credit line of $ 2.
NASDAQ: ZANE) today announced that it had reached an agreement, subject to Board approval, with accredited investors on a $5MM stand-by credit facility.
Commenting on the funding, Claudio Guazzoni, Chairman and CEO explained, "The stand-by credit offer strengthens our position in current negotiations with commercial banks and other capital partners.
The stand-by credit line, which will be in place for three years, will allow the government of Ecuador to temporarily sustain its levels of spending in programs to reduce poverty should exogenous events limit its revenues.
In connection with the financing, Interpublic has terminated its existing three-year revolving stand-by credit facility.
The European Bank for Reconstruction and Development (EBRD) is helping to boost confidence in Albania s financial sector with a 100 million stand-by credit line to the Albanian Deposit Insurance Agency (ADIA).
At closing, Interpublic will enter into a revolving stand-by credit agreement with ELF under which ELF will be obligated to make cash advances to Interpublic and to issue letters of credit for the account of Interpublic.
The latter funding, if required, will probably be in the form of a stand-by credit facility or a gold loan.