Proposal for a Post-Catastrophe Debt Relief Trust Fund
- The PCDR Trust aims to provide debt relief to eligible low-income countries affected by catastrophic disasters.
- Eligibility requires being PRGT-eligible and meeting specific income criteria.
- Debt flow relief covers payments falling due from the date of the relief decision to the second anniversary of the disaster.
- Debt stock relief enables early repayment of eligible debt on the second anniversary of the catastrophe, subject to certain conditions.
- The Trust will be administered by the Fund as Trustee, with separate accounts and investment guidelines.
This paper sets forth the proposed decisions and related legal instruments needed to implement the arrangements for a Post-Catastrophe Debt Relief Trust Fund, endorsed by most Directors. Adjustments made to the proposal following the May 19, 2010 Executive Board meeting are discussed, along with a summary of key aspects of the proposed decisions and related instruments. The related documents include the Instrument to Establish the Post-Catastrophe Debt Relief Trust and the Terms and Conditions for Administration of the PCDR Trust Umbrella Account. The PCDR Trust would have key substantive features, with specific aspects adjusted to reflect views expressed by Directors during the Board discussion.
How to cite
International Monetary Fund (IMF), 2010, Proposal for a Post-Catastrophe Debt Relief Trust Fund, https://www.imf.org/external/np/pp/eng/2010/042210.pdf