Enhanced Structural Adjustment Facility
(ESAF) a three-year programme (1997-2000) sanctioned for $935 million, Pakistan could draw under this facility only $310 million before it was suspended in October 1997.
The enhanced structural adjustment facility
(ESAF) was set up in December 1987 to provide financing on the same concessional terms as the SAF but allowing for a higher access in percent of quota and a fourth-year arrangement in some circumstances.
It changed the name of the Enhanced Structural Adjustment Facility
to the Poverty Reduction and Growth Facility.
The IMF program for helping poor countries that are deeply in debt was, until recently, called the Enhanced Structural Adjustment Facility
In June 1994 the IMF approved an additional loan under its Enhanced Structural Adjustment Facility
(ESAF) of SDR29.4m (about $42m) to support the reform programme into 1995, following an earlier credit in 1990.
The Structural Adjustment Facility
provides direct budget support which must be disbursed in two 'tranches' upon prior fulfilment of the above mentioned objectives.- Social Security Reform: The aim is to eliminate all contribution arrears and generate major fiscal savings, create a new regulatory framework to support the setting up of an unemployment insurance scheme and private pensions fund in line with EU standards.- Restructuring the Farming Industry: It seeks to promote agricultural growth and farm income generation by increasing the efficiency & equity of the support system and privatising state enterprises.
G-8 countries have reportedly okayed the release of third tranche of hold up soft credit line of $226 million out of the already approved Enhanced Structural Adjustment Facility
(ESAF) of 1.6 billion by the IMF.
In December 1987, the MF expanded its existing structural adjustment program to create an "Enhanced Structural Adjustment Facility
The structural adjustment facility
(SAF) was created by the IMF in 1986 with resources of SDRs 2.7 billion.
"The signing of the agreement for funding the structural adjustment facility
is a sign of confidence in the tax reform and economic management process put in place by the Finance Minister, Georges Corm", said Chris Patten.
Despite overall growth performance during the past few months remained less than the annual targets, it is said to be close to the performance criteria and implementation of the policy package agreed with IMF under Enhanced Structural Adjustment Facility
(ESAF) and Eternal Fund Facility (EEF) arrangements.
The Enhanced Structural Adjustment Facility
program, for example, is financed through member government loans and grants to the IMF.