General Resources Account

The International Monetary Fund (IMF) will temporarily increase funding limits for member nations to help them overcome current economic challenges. The annual limit under the fund’s General Resources Account will be raised to 200% of quota for a period of 12 months from the current 145%, the IMF said in a statement. Access to cumulative limits was revised to 600% from 435% now. The changes will provide member countries — particularly emerging markets and developing economies facing vulnerabilities — access to funds without triggering the so-called exceptional access framework that entails tougher conditions. The measure follows its permission last month…