Definition: Multiyear rescheduling agreement
External debt - IMF
An agreement granted by official creditors that covers consolidation periods of two or more years in accordance with multiyear IMF arrangements, such as the Extended Fund Facility (EFF) and the Poverty Reduction and Growth Facility (PRGF). The modalities of the agreement are that a succession of shorter consolidations (tranches) are implemented after certain conditions specified in the Agreed Minute are satisfied, such as full implementation to date of the rescheduling agreement and continued implementation of the IMF arrangements.
International Monetary Fund (IMF), "External Debt Statistics: Guide for Compilers and Users; Appendix III. Glossary of External Debt Terms", Washington D.C., 2003