Abstract

1. There is no official or generally agreed definition of prolonged use of Fund resources (UFR). In previous studies, undertaken both within and outside the IMF, prolonged UFR has been characterized in several different ways, focusing either on the number of years spent by a country under IMF-supported programs—in some cases approximated by the number of IMF-supported programs entered into—or on the length of time a country has outstanding obligations to the IMF. Annex 1 discusses the most commonly used definitions in more detail.