Macro-Financial Assistance (MFA)

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Publication Date June 2017
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Macro-financial assistance (MFA) is an instrument designed to provide loans and grants from the EU to candidate, potential candidate and neighbourhood countries in acute balance of payments crises. An MFA operation is exceptional and temporary, based on economic and political conditions, and linked to an International Monetary Fund (IMF) adjustment programme.

In addition to solving short term balance of payments problems, MFA is designed to stabilise public finances and to encourage structural reforms. Since 1990, there have been more than 60 MFA operations and the evaluation of the instrument is largely positive.

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European Commission: Macro-Financial Assistance (MFA) to non-EU partner countries

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