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 ?
The CBK has also been under pressure from the International Monetary Fund (IMF) to push the Treasury to have the law repealed.IMF'S DEMANDRemoving the caps on interest rates is one of the promises Kenya made to the IMF as it negotiated the renewal of the Sh150 billion standby credit facility when it expired last year.
At the same time, the Board approved two-year arrangements under the Stand-By Arrangement (SBA) and Standby Credit Facility (SCF) for Honduras; a press release on this was issued separately.
In addition, the company offers leasing, securities, and credit card services; and international business support services that includes foreign currency exchange, international remittances, loans, and standby credit in local currencies, as well as information obtained from local partner banks and government agencies.
Saudi Aramco signs new standby credit facilities with 27 financial institutions
Other considerations include cash generated abroad by exports, cash held abroad and undrawn standby credit lines (USD1 billion due 2023).
The DOF also noted that NFA revised its buying mix to heavily favor imports over rice from local farmers in July to December last year despite ample funds at its disposal and a standby credit facility that it could have readily tapped to maintain its mandated buffer stock.
DAVAO CITY-The Department of Finance (DOF) has asked the National Food Authority (NFA) to immediately explain why it understocked in the second half of 2017 and why it favored importation over buying from local farmers despite what the DOF insisted was the presence of 'ample funds at its disposal and a standby credit facility that it could have readily tapped to maintain its mandated buffer stock.'
For instance, Kenya sought and secured a two-year $1.5bn standby credit facility from the International Monetary Fund (IMF) in March 2016.
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).
He wants the next creditors' review completed as early as December and to achieve "a clean bailout exit", without a standby credit line that would come in return for more reforms.
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.
On 18 December, the International Monetary Fund (IMF) approved Mozambique's request for an SDR 204.5 million ($147.8 million) Standby Credit Facility.