Cabinet paper

Cabinet Paper ECO-24-SUB-0221: Changes to New Zealand’s financial position with the International Monetary Fund (IMF)

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Accessible version#

Only the first paragraph of this Cabinet paper is extracted below in HTML. If you require a full accessible version please contact [email protected] and cite ECO-24-SUB-0221 as a reference.

Cabinet Paper ECO-24-SUB-0221: Changes to New Zealand’s financial position with the International Monetary Fund (IMF) #

Changes to New Zealand’s financial position with the International Monetary Fund (IMF)#

1 This paper seeks approvals required to implement requested changes to New Zealand’s financial position with the International Monetary Fund (IMF) in line with the IMF’s intention to reduce reliance on borrowed resources. The changes would result in an increase to New Zealand’s IMF capital subscription (or “quota”); a concurrent reduction in the value of our lending made available to the IMF under the New Arrangements to Borrow (NAB); and termination of our Bilateral Borrowing Arrangement (BBA). This is an operational and largely routine adjustment to New Zealand’s financial position with the IMF, which requires Cabinet approval. These proposed changes are fiscally neutral and would have no impact on net core Crown debt.

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