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Record Nr. |
UNINA9910813823703321 |
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Autore |
Zettelmeyer Jeromin |
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Titolo |
Implicit transfers in IMF lending, 1973-2003 / / prepared by Jeromin Zettelmeyer and Priyadarshani Joshi |
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Pubbl/distr/stampa |
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Washington, D.C., : International Monetary Fund, Research Dept., 2005 |
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ISBN |
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1-4623-3571-3 |
1-4527-3403-8 |
1-282-10724-0 |
1-4519-0563-7 |
9786613800596 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (42 p.) |
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Collana |
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IMF working paper ; ; WP/05/8 |
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Altri autori (Persone) |
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Soggetti |
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Loans - Developing countries |
Subsidies - Developing countries |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references (p. 40-41). |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. POTENTIAL SOURCES OF IMF TRANSFERS""; ""III. METHODOLOGY AND DATA""; ""IV. RESULTS""; ""V. CONCLUSION""; ""APPENDIX I""; ""APPENDIX II""; ""APPENDIX III""; ""REFERENCES"" |
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Sommario/riassunto |
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We compute realized transfers implicit in IMF lending from 1973-2003, based on 2003 IMF repayment projections and promised debt relief. IMF lending rates to high-and middleincome countries fell short of industrial country borrowing rates by 30-150 basis points over the period as a whole, but exhibited a small premium after 1987. The subsidy received by low-income and HIPC countries was much higher (400-600 basis points, respectively). In 2002 NPV terms, cumulative transfers were 12-15 percent of 2002 GDP for the HIPCs, 2-3 percent for low income countries, and less than ¾ percent for the emerging market countries. |
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