Introduced as an improved version in 1987. International Monetary Fund (IMF) provides poorer countries concessional loans medium-term (5 to 10 years) for arranged payments balance adjustments . Some 65 countries are eligible for assistance under the ESAF. The improvement over 1986 is that now IMF has triple the resources and more closely monitors borrower performance . It follows the same policy framework paper as the original structural adjustment facility (SAF) introduced in 1986.
Black’s Law Online Dictionary
