Standby Credit

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.
References in periodicals archive ?
5 billion) standby credit facility that was due to expire Wednesday.
9 million) 24-month Standby Credit Facility (SCF) for Kenya, for a combined SDR 1.
This was evident from the increase in inter-company loans from the parent group during the period of high financial leverage in 2014, in addition to the THB54 billion in standby credit facilities and the THB12 billion revolving loan facility from the parent group.
The Executive Board of the International Monetary Fund (IMF) today approved the extension of the Policy Support Instrument (PSI) for Rwanda to one December 2018 and completed the eighth review of Rwanda's performance under the PSI and the third and final review of the arrangement under the Standby Credit Facility (SCF).
A statement by the Ministry of Finance said that the government delegation headed by Finance Minister Hoshyar Zebari and the participation of the Central Bank Governor and Economic Adviser of the Prime Minister and leading experts in the Financial, Oil, Planning and Electricity Ministries concluded negotiations with the International Monetary Fund experts to reach a standby credit agreement [SBA] at the expert level.
The IMF cannot be blamed as they are confronted with weak economic indicators and lowered credit ratings when they assess the economic outlook of the country when considering a standby credit facility.
Continued implementation of prudent policies under the standby credit facility will be essential to ensure debt sustainability, safeguard against external shocks, as well as promote strong and inclusive growth.
They also agreed to explore possibility of having a standby credit line to deal with such situations.
Ensour stressed that the meeting came at a critical time as Jordan has almost overcome, successfully, the standby credit program to the International Monetary Fund (IMF), and after launching Jordan's 10-year blueprint, in addition to the WEF's fruitful outlets.
Looking forward, the standby credit line arrangement with the IMF, which entails harsh austerity measures, will further exacerbate the outlook for domestic demand in 2015 and 2016.
Last month Ukraine won a $14bn-$18bn standby credit from the IMF.
The Washington-based fund said last week it had signed a binding accord with Ukraine, under which Kiev was to receive $14 to $18 billion in standby credit in exchange for painful economic reforms.