Definition: Extended fund facility

Category: IMF terminology

A financing facility (window) under which the International Monetary Fund (IMF) supports economic programs that generally run for three years and are aimed at overcoming balance of payments difficulties resulting from macroeconomic and structural problems. Typically, the member's economic program states the general objectives for the three-year period and the specific policies for the first year; policies for subsequent years are spelled out at the time of program reviews. http://www.imf.org/external/np/exr/glossary/showTerm.asp