IMF Glossary of Selected Financial Terms

Glossary of Selected Financial Terms, by the IMF – International Monetary Fund
Last Updated: October 31, 2006
Language: English
No. of terms: 170
Last visited by Your Dictionary Guide: October 29, 2011

Description: A glossary can tell you more than simply the definitions of terms. For example it is interesting to see the range that is covered in glossary by big international organizations. You might rightly understand that the terms that made it into the glossary, are those that are common ground in ongoing discussions with the specific organizations. Another reason why glossaries, like the IMF Glossary of Selected Financial Terms, are interesting is that they  show the specific understanding of a subject/terms by this organization. It can be rather interesting to locate the different understandings of the same term by different organizations. Certainly it is worth to know the definitions by such an influential organization as the International Monetary Fund:
“The IMF is an organization of 185 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”

Example Term: Poverty Reduction and Growth Facility (PRGF)
Established as the Enhanced Structural Adjustment Facility (ESAF) in 1987, enlarged and extended in 1994, and further strengthened in 1999 to make poverty reduction a key and more explicit element. The purpose of the facility is to support programs to strengthen substantially and in a sustainable manner balance of payments positions, and to foster durable growth, leading to higher living standards and a reduction in poverty. Eighty low-income countries are currently PRGF-eligible. Loans are disbursed under three-year arrangements, subject to observance of performance criteria and the completion of program reviews. Loans carry an annual interest rate of 0.5 percent, with a 5-1/2 year grace period and a 10-year maturity.

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