Policy Coordination Instrument Updated Operational Guidance Note
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Policy Coordination Instrument — Updated Operational Guidance Note
Author: International Monetary Fund. Strategy, Policy, & Review Department
language: en
Publisher: International Monetary Fund
Release Date: 2024-04-25
This note provides updated general guidance on the use of the Policy Coordination Instrument (PCI). The PCI is a non-financing instrument designed for countries that, at the time of the PCI request, are seeking to unlock financing from sources other than the Fund and/or to demonstrate a commitment to a reform agenda. Since its establishment in 2017 as part of the Fund’s work on the Global Financial Safety Net, the PCI has been used by several members. These experiences helped establish and refine best practices, which are reflected in this updated operational guidance note together with changes to the PCI policy approved by the Executive Board on October 4, 2023. The note covers operational issues in a broad range of areas such as purpose, objectives, eligibility, modalities, applicability of UFR-related and other relevant policies, design of a PCI-supported program, conditionality framework, review schedule , and a comparison with other lending instruments. The note is an aid to the implementation of the PCI policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with the policy approved by the Board, the PCI policy shall prevail.
Policy Coordination Instrument—Operational Guidance Note
Author: International Monetary
language: en
Publisher: International Monetary Fund
Release Date: 2021-05-19
This note provides general guidance on the use of the Policy Coordination Instrument (PCI), a non-financing instrument designed for countries that are seeking to unlock financing from multiple sources and/or to demonstrate a commitment to a reform agenda. Since its establishment in 2017 as part of the Fund’s work on the Global Financial Safety Net, the PCI has been used by several members. These early experiences helped establish and refine best practices, which are reflected in the operational guidance note. The note covers operational issues in a broad range of areas such as purpose, objectives, and eligibility, modalities, applicability of UFR-related and other relevant policies, design of a PCI-supported program, conditionality framework, review cycle, and a comparison with other instruments. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails.
Policy Coordination Instrument-Operational Guidance Note
Author: International Monetary Fund Strategy, Policy, and Review Department
language: en
Publisher:
Release Date: 2021
This note provides general guidance on the use of the Policy Coordination Instrument (PCI), a non-financing instrument designed for countries that are seeking to unlock financing from multiple sources and/or to demonstrate a commitment to a reform agenda. Since its establishment in 2017 as part of the Fund's work on the Global Financial Safety Net, the PCI has been used by several members. These early experiences helped establish and refine best practices, which are reflected in the operational guidance note. The note covers operational issues in a broad range of areas such as purpose, objectives, and eligibility, modalities, applicability of UFR-related and other relevant policies, design of a PCI-supported program, conditionality framework, review cycle, and a comparison with other instruments. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails.