Report

22 | IMF ANNUAL REPORT 2011
Left Workers make prostheses at a local hospital in Lomé,
Togo. Right Laborers build a transitional shelter for flood
victims at a village in Charsadda, Pakistan.
Emergency assistance. The Fund’s Emergency Natural Disaster
Assistance (ENDA) is provided to allow members to meet their
immediate balance of payments financing needs arising from
natural disasters without a serious depletion of their external
reserves, such as in cases of shortfalls in export earnings and/or
increased imports. Emergency assistance financing (see Web
Tables 3.2 and 3.3) is disbursed in the form of outright purchases
and does not involve specific economic performance targets.
(Additionally, to support its poorest members affected by the
most catastrophic of natural disasters, Fund assistance in the
form of debt relief is now available through the Post-Catastrophe
Debt Relief Trust; see Box 3.1.)
In September 2010, the Executive Board approved a disbursement
of SDR 296.98 million (about US$451 million) for Pakistan
under ENDA to help the country manage the immediate aftermath
of the massive and devastating floods that ravaged the country in
July 2010. In January 2011, the Executive Board approved a
combined SDR 5.36 million (about US$8.19 million) in emergency
assistance for St. Lucia to help the country cope with the economic
consequences of Hurricane Tomas, which struck the Caribbean
island in late October 2010, causing loss of life and significant
damage to the nation’s road network, water supply, and agriculture
sector. The financial assistance consists of an SDR 3.83 million
(about US$5.85 million) disbursement under the IMF’s Rapid
Credit Facility (RCF) and SDR 1.53 million (about US$2.34 million)
under ENDA. A month later, the Executive Board approved a
disbursement of an amount equivalent to SDR 2.075 million
(about US$3.26 million) under the RCF for St. Vincent and the
Grenadines to help the country manage the economic impact of
Hurricane Tomas, which inflicted significant damage on agriculture,
housing, and infrastructure in that country as well.
Figure 3.1
Arrangements approved during financial years
ended April 30, 2002–11 (In billions of SDRs)
140
120
100
80
60
40
20
0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Stand-By Extended Fund Facility FCL PCL
Source: IMF Finance Department.
Figure 3.2
Regular loans outstanding, FY2002–11
(In billions of SDRs)
70
60
50
40
30
20
10
0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: IMF Finance Department.