Michel Camdessus, Managing Director of the International Monetary Fund (IMF), said today following a meeting of the IMF's Executive Board: "I am very pleased to announce that the Executive Board has reached understandings to ensure a permanent continuation of the enhanced structural adjustment facility (ESAF)--the IMF's concessional lending window for low-income members--and allows the IMF to participate in the joint IMF/World Bank initiative for the highly indebted poor countries (HIPCs). With these understandings, we can now indicate to the Interim and Development Committees that the IMF is fully ready to assist its low-income members well into the next millennium. I warmly welcome the cooperative spirit in the Executive Board that made these understandings possible."