The IMF has acted with
unprecedented speed and scale to support low-income countries during the
pandemic. The Fund provided financial support to 53 of 69 eligible low-income
countries in 2020 and in the first half of 2021, with about US$14 billion
disbursed as zero percent interest rate loans from the Poverty
Reduction and Growth Trust.
Most of this support was through the Fund’s emergency financing instruments—the Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI)—which provide immediate, one-time disbursements to countries facing urgent balance of payments needs. The Fund was able to respond to a record number of requests for financial assistance through a series of temporary access limit increases to the RCF and RFI, and temporary increases in the Poverty Reduction and Growth Trust (PRGT) overall access limits.