The International Monetary Fund on Tuesday announced a new Precautionary and Liquidity Line to be available to “crisis bystanders” during times of “heightened economic or market stress.”
The IMF — which includes 187 member countries — said in its announcement that the new Precautionary and Liquidity Line, or PLL, would replace the organization’s Precautionary Credit Line, or PCL, and be used under a broader set of circumstances, including “as insurance against future shocks and as a short-term liquidity window to address the needs of crisis bystanders during times of heightened regional or global stress and break the chains of contagion.”
