The IMF's preferred creditor status : International Monetary Fund's preferred creditor status

Throughout the history of IMF lending, the institution has had PCS; that is, distressed countries borrowing from the IMF are expected to give priority to meeting their obligations to the IMF over those to other (private or official) creditors. This status is a defining characteristic of the IMF's role in financial crises: it provides a high degree of confidence that IMF resources are safe even when other creditors of the distressed country face substantial uncertainty about whether they will be repaid in full.