Proposed Reforms to the Exogenous Shocks Facility

Leaked IMF paper on the Exogenous Shocks Facilty

Official IMF policy paper on changes made to the design of the Exogenous Shocks Facility (ESF) loan, intended to respond to the global food and fuel price crises in low-income countries through faster, easier and more flexible financial assistance. The paper details how the ESF is to be redesigned to better respond and adapt to the current commodity price spikes and the resulting balance-of-payments problems. The revamp of the ESF was approved by the Executive Board on 19th September.