“Exceptional times call for an exceptional response,” said IMF Managing Director Dominique Strauss-Kahn. “
The Short-Term Liquidity Facility (SLF) is designed to help emerging market countries with a track record of sound policies address the fallout from the crisis. The new facility, approved by the IMF’s Executive Board on October 28, comes with no conditions attached once a loan has been approved and offers large upfront financing to help countries restore confidence and combat financial contagion.
Size of loan. Disbursement of IMF resources can be up to 500 percent of quota, with a three month maturity. Eligible countries are allowed to draw up to three times during a 12-month period.
IMF to Launch New Facility for Emerging Markets Hit by Crisis
Related:
ESF: The Exogenous Shocks Facility
It sounds like a joke:
“What did the exogenous country say to his endogenous countryman?”
or a headline:
“IMF Struts its Shock Facility”