MAS renews IMF loan commitment until 2030

It has a maximum limit of $2.23b.

The Monetary Authority of Singapore (MAS) has announced that Singapore will renew its loan commitment to the International Monetary Fund (IMF) under the new arrangements to borrow (NAB).

The renewed commitment will last until 31 December 2030, with a maximum limit of $2.23b (SDR1,297.1m/US$1.76b).

Singapore has been part of the NAB since it began in 1998.

The loan is a standby arrangement and will only be used if the IMF’s main resources are low. It is not a direct loan to other countries.

MAS said the commitment does not affect the government’s budget or reduce Singapore’s Official Foreign Reserves. If drawn, the funds remain part of the reserves.

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