Definition: Structural adjustment facility

Category: IMF terminology

A financial facility of the International Monetary Fund (IMF) established in 1986 to provide concessional loans to low-income Fund member countries. It recycled resources lent under the IMF's Trust Fund. It was superseded by the Enhanced Structural Adjustment Facility (ESAF) which was established in 1987 to promote stronger adjustment and reform measures than those under the SAF. The ESAF was replaced by the Poverty Reduction and Growth Facility in 1999. http://www.imf.org/external/np/exr/glossary/showTerm.asp