reserve tranche

reserve tranche
The 25% of its quota to which a member of the International Monetary Fund has unconditional access, for which it pays no charges, and for which there is no obligation to repay the funds. The reserve tranche corresponds to the 25% of quota that was paid not in the member's domestic currency but in Special Drawing Rights (SDRs) or currencies of other IMF members. It counts as part of the member's foreign reserves. As before 1978 it was paid in gold, it was known as the gold tranche. Like all IMF facilities it is available only to avert balance of payments problems, although for the reserve tranche the IMF has no power either to challenge the member's assessment of need or to impose a corrective policy. Further funds are available through credit tranches but these are subject to certain conditions (see conditionality).

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