time by the Fund.1 The current procedures are set out in Decision No. 6709-(80/189) S, as amended by Decision No. 12157 …

General Arrangements to Borrow (GAB) on a possible renewal of the GAB decision. By way of background, the GAB was established … Box 1). The GAB decision stipulates that the arrangements are subject to periodic renewal, and that decisions on renewal … need to adopt a decision on renewal not later than twelve months before the end of the current period, id est, not later …

Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool … risk diversification for investors, and enhance the resilience of the international financial system. Should SCDI issuance … conventional debt; pro-cyclical investor demand; migration of excessive risk to the private sector; and adverse political economy …