The Stand by Arrangement (SBA)

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The Stand-by Arrangement (SBA) provides short-term financial assistance to countries facing balance of payments problems.
Historically, the SBA has been the IMF lending instrument most used by advanced and emerging market countries.
The SBA has been upgraded to be more flexible and responsive to countries’ needs, and can also serve as a precautionary arrangement.
The factsheet was last updated in April 2025.

Provide short-term balance of payments support.
Serve as a precautionary arrangement when countries wish to retain the option to draw on approved amounts without immediate use.

For countries facing balance of payments problems and for those seeking precautionary coverage.

Disbursements are conditional on the observance of quantitative performance criteria.
Progress in implementing structural measures that are critical to achieving the objectives of the program is assessed holistically, including via benchmarks.

Program progress and conditionality implementation are assessed through reviews (modalities not further specified in the factsheet).

Resources are subject to a commitment fee levied at the beginning of each 12-month period on amounts that could be drawn in the period.
Commitment fee schedule:
- 15 basis points for committed amounts up to 200 percent of quota,
- 30 basis points on committed amounts above 200 percent and up to 600 percent of quota,
- 60 basis points on amounts exceeding 600 percent of quota.
Fees are refunded pro rata if amounts are drawn during the course of the relevant period.
If a country borrows the entire amount, the fee is fully refunded.
No refund is made when countries do not draw.
A service charge of 50 basis points is applied on each amount drawn.

Repayment terms are part of the SBA terms (specific repayment schedule details are not included in the factsheet).

Precautionary access: arrangements are used when countries do not intend to draw on approved amounts but retain the option to do so should they need it.

The Stand-by Arrangement
- The Stand-by Arrangement (Markdown version)
- The Stand-by Arrangement (PDF)