How is the IMF providing financial assistance?
. • For low-income countries with a PRGF arrangement in place, IMF assistance is being made available by augmenting the resources available under the PRGF. A number of countries that experienced qualifying shocks since late 2005 had PRGFs in place and availed themselves of PRGF augmentations (Niger in 2005, Burkina Faso in 2006, Moldova in 2006, and Burkina Faso again in 2008; Kenya reduced access under a previously augmented PRGF arrangement in 2007). • The Exogenous Shocks Facility (ESF) can provide policy support and financial assistance to low-income countries facing exogenous shocks. • So far, no member has drawn on the ESF. This reflects (i) that many potential users had PRGFs in place and opted for augmentations; (ii) strengthened economic policies in potential users, with many LICs able to accumulate foreign exchange reserves as a first line of defense; and (iii) favorable global market conditions up to recently. Despite the increase in world oil and food prices, many LICs expe
