弹性和可持续性安排的催化作用.pdfVIP

TheCatalyticImpactof

Resilienceand

SustainabilityFacility

Arrangements

Y.Diallo,P.Escalante,L.Kaltani,T.Kapan,F.Langowski,and

D.Nyberg

IMFWorkingPapersdescriberesearchin

progressbytheauthor(s)andarepublishedto

elicitcommentsandtoencouragedebate.

TheviewsexpressedinIMFWorkingPapersare

thoseoftheauthor(s)anddonotnecessarily

representtheviewsoftheIMF,itsExecutiveBoard,

orIMFmanagement.

2026

MAR

©2026InternationalMonetaryFundWP/26/38

IMFWorkingPaper

FinanceDepartment

TheCatalyticImpactofResilienceandSustainabilityFacilityArrangements

PreparedbyY.Diallo,P.Escalante,L.Kaltani,T.Kapan,F.LangowskiandD.Nyberg*

AuthorizedfordistributionbyDaliaHakura

March2026

IMFWorkingPapersdescriberesearchinprogressbytheauthor(s)andarepublishedtoelicit

commentsandtoencouragedebate.TheviewsexpressedinIMFWorkingPapersarethoseofthe

author(s)anddonotnecessarilyrepresenttheviewsoftheIMF,itsExecutiveBoard,orIMFmanagement.

ABSTRACT:TheResilienceandSustainabilityFacility(RSF),whichwasaddedtotheIMF’slendingtoolkitin

2022,providesaffordablelonger-termfinancingtosupportcountriesundertakingmacrocriticalreformsto

reduceriskstoprospectiveBoPstabilityemanatingfromextremeweathereventsandpandemics.Thispaper

drawsearlylessonsfromRSFarrangementsbyexploringwhethertheyhavebeenabletomeetoneoftheir

coreobjectives,namelycatalyzingfinancingfromothersources.Amultiprongedapproachisusedconsistingof

asurveyofcountryteams,aneconometricstudy,andanalysisofnon-t