Frequently Asked Questions on the Extended Fund Facility.

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The IMF Executive Board approved a new 40-month arrangement under the Extended Fund Facility (EFF) for about US$1.4 billion (equivalent SDR 1033.92 million or 360 percent of quota) to support the government’s economic reforms.
The approval allows an immediate disbursement of around US$113 million to support the government's economic reforms.
Further disbursements are subject to subsequent reviews and the observance of quantitative performance criteria and program objectives assessed holistically including via benchmarks.
A disbursement can be made immediately following the approval of the Executive Board; the total amount of the loan is not disbursed upfront.

The program is anchored on improving the underlying primary balance by around 3½ percent of GDP over 3 years, to put the ratio of public debt to GDP on a firm downward path after peaking at 85 percent of GDP in 2024.
High quality measures worth 1½ percent of GDP in 2025, already included in the approved budget, will reduce the wage bill, spending on goods and services, and transfers to municipalities.
Reform efforts will center on:
- Strengthening the efficiency of the civil service.
- Strengthening the viability of the pension system.
- Strengthening revenue mobilization.
Fiscal consolidation will be conducted in a manner that strengthens support for the most vulnerable and protects priority public investment.

Fiscal transparency will be substantially strengthened, starting with early efforts to:
- Enhance the fiscal responsibility framework.
- Improve the reporting of debt, pension costs, state-owned enterprises ownership, procurement contracts, and beneficiary ownership.
Early reforms will focus on establishing a strong anti-corruption framework and improving Anti-Money Laundering and Counter-Financial Terrorism (AML/CFT) arrangements in line with international best practices.
To boost the business climate and overall resilience, efforts will continue to cut red tape, modernize infrastructure, and implement a climate adaptation strategy with support from development partners.
When warranted, measures to strengthen governance may become part of an IMF lending program and might call for:
- Strengthening controls on public spending.
- Reducing discretion in revenue administration.
- Issuing audited accounts of government agencies, central banks, and state-owned enterprises.
Other possible governance measures may focus on increasing transparency of natural resource management, enhancing bank supervision, or stepping up efforts to combat corruption and money laundering.

Fiscal and financial sector buffers will be enhanced, including through an early strengthening of the banks’ liquidity framework supportive of continued private sector credit growth.
Banks’ required liquidity buffers, currently at 11.5 percent of deposits, will gradually reach 15 percent by end-June 2026.
Fund financing will support the central bank’s gross reserves, thereby strengthening its capacity to address shocks.
Reforms will continue to align bank regulations with Basel III standards on risk-based supervision.

The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies and evolving international best practices.
Legal reforms will make acceptance of Bitcoin by the private sector voluntary.
For the public sector:
- Engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined.
- Taxes will only be paid in U.S. dollars.
- The government’s participation in the crypto e-wallet (Chivo) will be gradually unwound.
Transparency, regulation, and supervision of digital assets will be enhanced to safeguard financial stability, consumer and investor protection, and financial integrity.

The Extended Fund Facility (EFF) provides financial assistance to countries facing serious medium-term balance of payments problems because of structural impediments or slow growth.
The EFF helps countries implement medium-term structural reforms and offers longer program engagement and a longer repayment period.
As a means of safeguarding its resources, the IMF assesses the governance and transparency frameworks of central banks of countries to which it lends money.
In its capacity development efforts, the IMF works with countries to strengthen economic institutions by providing technical assistance and training on critical macroeconomic issues.