In particular: (a) conditionality has been simplified and tailored to the varying strengths of countries’ policies and fundamentals; the IMF will rely more on pre-set qualification criteria (ex-ante conditionality) and less on traditional (ex post) conditionality as the basis for access to its resources; (b) a new Flexible Credit Line (FCL) has been introduced, for countries with very strong fundamentals, policies, and track records of policy implementation.
Countries eligible to the FCL are granted large and upfront access to Fund resources, within limits to be assessed on a case-by-case basis and with no ongoing (ex post) conditions; (c) the traditional stand-by lending arrangements have been made more flexible, to enable high access on a precautionary basis for members that do not qualify for the FCL; (d) non-concessional loan access limits for countries have been doubled (to 200 and 600 per cent of quota on an annual and cumulative basis, respectively), in order to bolster countries’ confidence that adequate resources would be available to meet their financing needs.