The reserve for external loans (article 23 of the IIA of 1999) is currently not only the line from which the Fund is provisioned but, in its own right, also a potential cushion between the budget and any loan defaults.
The reserve for external loans (article 23 of the IIA of 1999) is currently not only the line from which the Fund is provisioned but, in its own right, also a potential cushion between the budget and any loan defaults.