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Old 08-02-2011, 07:43 PM   #97
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extended fund facility (F3)<br />A type of INTERNATIONAL MONETARY FUND loan introduced in 1974 which is granted to a country which agrees to an economic adjustment programme over a three-year period. Repayment begins fom and a half years after the loan is granted and is extended over a six-year period. The facility was used to the extent of about $100 million annually in the 1970s, and by the mid-1980s had risen to over $2 billion per year. It can be used in conjunction with a SUPPLEMENTARY FINANCING FACILITY.
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